This study examines the use of social media tools; Facebook and Whatsapp - and how they support economic development. Hinged on the Diffusion of Innovations and Technological Acceptance Models, it uses descriptive survey research design, the questionnaire instrument will be used. The preponderance of Whatsapp usage, leading to greater market accessibility and enhanced customer relations. These outcomes have significant effects on the development of the economy. In spite of the potentials for increased visibility of the different interactive social platforms, many business owners are oblivious of their existence! They would need to be enlightened about the usage of social media as a component of their economic growth strategy.
1.1 Background to the Study
The influence of social media is
becoming visible by the day but in Nigeria, many businesses use Facebook and Whatsapp for social interactions and interpersonal communication
unmindful or oblivious of their potentials as tools for economic development.
Obviously, it was the advent of the internet that “brought with it the reality
of social media”. (Jagongo et al.
2013) affirm that social media enable business ventures to communicate with
their customers mutually. The authors argue that social media networks can
assist small business to manage relationships with customers through robust
marketing, innovative communication and supply channels, improved selling of
custom-made products, technical support and online interactive community. The