The Role Of Risk Management In Enhancing The Success Of SMEs' International Digital Marketing Strategies
DOI:
https://doi.org/10.59971/jumawa.v3i4.491Keywords:
Digital Marketing, Internationalization, Risk Management, SMEs, Strategic SuccessAbstract
Digital channels allow small and medium-sized enterprises (SMEs) to reach foreign customers at low cost, yet they also expose resource-constrained firms to market, financial, operational, legal, cyber, and reputational risks. This study examines the role of risk management in improving the success of SMEs' international digital marketing strategies. A qualitative narrative literature review was conducted using recent studies (2022–2025) on SME internationalization, digital marketing, and cyber risk, complemented by foundational works and the ISO 31000:2018 standard. The review shows that risk management contributes in four ways: it informs market-selection decisions, protects limited marketing budgets through staged experimentation, safeguards reputation and customer data, and strengthens adaptation to platform and regulatory change. Evidence suggests that internationalization risks do not prevent SMEs from going abroad; rather, the way firms manage them shapes performance. The study proposes a five-stage risk management framework tailored to SME constraints: identification, assessment and prioritization, treatment, staged implementation, and monitoring. The framework offers a conceptual basis for future empirical testing and a practical guide for SME owners and support agencies.
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