Digital marketing strategies and enterprise performance in manufacturing smes : evidence from a meta-analysis and theoretical synthesis

Abstract

Purpose. This study aims to examine the nature and boundary conditions of the relationship between digital marketing strategies and enterprise performance in manufacturing small and medium-sized enterprises (SMEs), as well as to develop an integrated theoretical framework explaining this relationship. Materials and Methods. The study employs a systematic literature review and meta-analysis of 56 empirical studies published between 2010 and 2024. Data were collected from Web of Science, Scopus, Google Scholar, and CNKI databases. The theoretical interpretation is grounded in the resource-based view (RBV) and dynamic capabilities theory. Results. The findings indicate that digital marketing has a moderate positive impact on SME performance (r = 0.3715). However, significant industry-level heterogeneity is observed: the strongest effects are found in the service sector (r = 0.425), while the manufacturing sector demonstrates a weaker but still positive relationship (r = 0.298). Key moderating factors include firm size, regional development level, and ownership structure. An integrated input–process–output framework is proposed to explain how digital marketing resources are transformed into performance outcomes through digital transformation mechanisms. Conclusion. The study concludes that the effectiveness of digital marketing is context-dependent and varies across industries. Manufacturing SMEs require tailored digital strategies that account for sector-specific constraints, resource limitations, and institutional environments. The results contribute to theory by integrating multiple perspectives and provide practical implications for enhancing enterprise performance through digital marketing.