Integrating Financial and Digital Marketing Strategies for MSME Growth

Abstract

Purpose: This study aims to systematically examine how the integration of financial management and digital marketing strategies influences the revenue growth and competitiveness of Micro, Small, and Medium Enterprises (MSMEs). It seeks to identify the interlinkages between these two domains and their combined impact on MSME performance in the digital economy.

Methodology/approach: A Systematic Literature Review (SLR) approach was employed, following the PRISMA 2020 and Kitchenham protocols to ensure methodological rigor. Data were retrieved from Scopus, ScienceDirect, Emerald Insight, ProQuest, and Google Scholar databases using Boolean search combinations of “financial management,” “digital marketing,” and “MSMEs performance.” Ten empirical studies published between 2018 and 2025 were analyzed through thematic synthesis and bibliometric mapping using VOSviewer software.

Results/findings: The findings reveal that robust financial management practices and effective digital marketing strategies independently enhance MSME performance, but their integration generates synergistic effects on sales growth and profitability. Financial discipline enables efficient digital investment, while digital initiatives strengthen revenue and liquidity.

Conclusions: Integrated financial–digital strategies serve as dual levers for MSME competitiveness and sustainable performance in volatile markets.

Limitations: The study is limited to ten selected empirical studies, which may restrict generalization across regions.

Contribution: This review enriches MSME literature by offering an integrative framework linking finance and marketing, providing actionable insights for researchers, policymakers, and entrepreneurs seeking to drive digital-era growth.