Abstract
Entrepreneurship plays a critical role in economic development as it is usually dominated by individuals who identify economic and business ideas or opportunities that address specific market needs and meet societal demands. Thus, these ideas are turned into thriving business ecosystems that not only contribute financially to the economy but also create job opportunities for youths. In packaging these economic opportunities and business ideas, entrepreneurs employ different strategies to target the right population that the business aligns with. Social media as an element of technology is positively shaping how organisations, businesses, both private and government, communicate, create awareness, and build brands. For entrepreneurs, social media presents golden opportunities for online brand strategic communication and establishing brand relationships with stakeholders. However, the effectiveness and successful use of social media for brand building depend on the strategies employed. Consequently, this study investigated how entrepreneurs in the fashion and beauty sector use social media to build brand resonance with their stakeholders.
This study adopted a qualitative research approach and a three phase method for data collection namely, semi-structured interviews with participants, observations of the Linden and Ikeja markets, and the analysis of the participant’s social media pages for an in-depth understanding of the subjective experiences of entrepreneurs on how they utilise social media for brand building. The current study adopted a phenomenological research design, which guided the study. A non-probability purposive sampling was applied to select eighteen participants from the Linden and the Ikeja markets who were interviewed using a semi-structured interview method. Using thematic data analysis on participant responses, the findings revealed that the strategic use of storytelling, humorous, and authentic content plays crucial roles in building brand resonance with stakeholders on social media. The findings also revealed that culture, within the environment that a business operates, influences its online communication by ensuring that the brand’s online communication aligns with stakeholder values and respects their collective culture. Findings established that storytelling, humour, and authentic content, if strategically used, create memorable experiences among stakeholders, build loyalty, and positive brand associations, which are important elements in brand building.