Digital transformation in emerging markets: the role of technology adoption and innovative marketing strategies among SMEs in the post – pandemic era

Abstract

Purpose This study aims to evaluate the impact of the COVID-19 pandemic on technology adoption, innovation and business relationships among small and mid-sized enterprises (SMEs) in Ghana. Specifically, it examines how technical know-how and innovative sustainable marketing strategies mediate and moderate these relationships, offering insights into the broader dynamics of digital transformation and sustainability in emerging markets. Design/methodology/approach The study surveyed management and employees from SMEs in Ghana’s financial sector. A Partial Least Squares Structural Equation Modeling approach was used to test the constructs’ reliability and validity and evaluate the hypothesized relationships with 357 completed questionnaires out of 452 total responses gathered. Findings The results indicate that post-pandemic, challenges in maintaining business relationships and the lack of technical know-how have driven the increased adoption of technology and innovative sustainable marketing strategies. These factors have also contributed to improved hygienic practices among SMEs. The study concludes that these changes are crucial for accelerating digitalization and ensuring long-term sustainability for SMEs in developing countries, especially in the wake of pandemic disruptions. Originality/value This study provides a novel contribution by exploring the intersection of emerging technologies such as mobile applications and blockchain within the context of pandemic-induced digital transformation. The findings emphasize the importance of these technologies in shaping the future growth and sustainability of businesses. Additionally, the paper highlights both the limitations of the current study and proposes future research directions to further advance the understanding of digital transformation in emerging markets.