Social Networking and its Benefits for Business

18th February 2009

Social networking has opened up a whole new vista to small-business.  In the existing scenario of a depressed economy, small businesses have been forced to evolve a new strategy for survival.  Social networking has come as a godsend.  If you are owner of small business, you will appreciate the importance of social networking. Social networks, give you a competitive edge over their larger counterparts.  Social networking has proved to be a practical and relatively inexpensive means of interacting, reaching out and keeping in touch with customers.

Through social networking web sites your small business can build trust and goodwill with your business partners, potential clients and employees.  The business can broadcast its expertise.  For example, if your small business deals in women’s clothing, you could answer specific questions about fashion trends in a women’s forum like a fashion website.  Social networking is not only about advertising your business it is more about helping people achieve their goals, in this specific case it should be about helping people find a valuable information. By doing so you will enhance your companyïs  prestige and image.

It has proved to be a comparatively inexpensive method of reaching out and interacting with customers. It allows you a very efficient two-way communication and opens up a wide market that would otherwise have been outside the reach of the average small business.

Social networking allows you to target a specific audience.  If you feel for instance that your best market would be a certain strata of society, a web site could be tailored with explicit promotion that appeals to this select section.  Traditional methods would not have permitted such a localized focus.

The small business gets a level playing field through a platform of social networking.  Invariably small businesses are quicker off the starting block when comparing their larger brothers. Big businesses have to rely on advertising campaigns which take time to prepare and to get the necessary results.  A small business need not be shackled with this impediment.  Speed is an advantage that the can be exploited through the medium of social networking.

Networking allows you to interact with other small business owners. You can publish your profile on  social networking websites like Facebook or LinkedIn, executive your resume and in this manner introduce yourself to like-minded professionals.  In effect social networking is an online bazaar that brings professionals together and is here to stay.