Relationship between Social Media Usage and the Performance of Selected Microfinance Institutions in Meru County
Abstract
In the world today social media platforms have snowballed and sparked both opportunity and concern on how its use affects the financial performance of microfinance institutions. The study aimed to determine the relationship between social media usage and the performance of selected microfinance institutions in Meru County. The study used descriptive design. The study established that social media is practically applicable because of how easy it is in usage and how many customers prefer it to the traditional way banks and financial institutions have been operating. This study thus recommends that there should be a paradigm shift that will enable microfinance institutions operate competitively and perform better financially. This cannot be realized if the leadership is stack in the old ways of doing things.
Keywords: Social Media Usage, Performance, Microfinance Institutions, Meru County
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