Social media empowers small and medium enterprises (SMEs) in engaging with their stakeholders economically and effectively. Social media use affects SMEs operation and knowledge sharing which creates innovation opportunities, speeds time to market, satisfies firm's customers, and improves business performance. Current research aims to explore the impact of social media use on the market entry agility, product innovativeness, reducing the market entry time for the SME and improving the firm performance. Cross-sectional survey-based data was collected from the jewelry crafting SMEs in Bali, Indonesia. The data was analyzed with the covariance-based statistical analysis technique with the SPSS based AMOS 23. The study results identify that social media use and market entry agility significantly impact firm performance. However, product innovativeness insignificantly influences firm performance. Furthermore, the market entry agility mediates for the firm performance so, SMEs need to leverage social media use, and market entry agility enables the dynamic capacity to enhance firm performance. Firms’ level innovativeness capability should be considered as a mediating role but should support another variable to leverage firm performance. The study limitation and future research options are reported at the end.