As more and more firms want to connect with different stakeholders through social media, plans to build a presence on these platforms are becoming part of top-level strategy. This research verifies a conceptual framework that extends the Technology Acceptance Model (TAM) in order to determine the factors that influence acceptance and use of social media marketing tool within SMEs industries in emerging economies. Using a simple random approach, data was obtained from 50 small and medium-sized enterprises (SMEs) in Ghana, with 314 IT-and management-related employees submitting valid response. In addition, partial least square structural equation modelling (PLS-SEM) was utilized to evaluate and assess the hypotheses given in this research. The findings indicate that perceived usefulness, perceived ease of use, and behavioral intentions to use social media marketing have a positive effect on the actual usage of social media marketing by SMEs, whereas perceived cost has a negative effect on the actual usage of social media marketing. The findings also suggested that transformational leadership moderates the relationship between behavioral intention to use social media marketing and actual usage of social media marketing. Additionally, the research contributes to the existing literature on social media adoption factors and reinforces factors such as perceived usefulness and perceived ease of use to the relatively small number of empirical studies undertaken on social media marketing adoption factors in developing countries. Finally, this paper has significant implications for practitioners and scholars interested in examining the adoption of social media marketing by SMEs.