Social Networking in Business

Using social networking sites can be a valuable asset to a growing, or even already established, business. As an article on social networking sites refers to Metcalfe’s law: the more users a social networking site (SNS) has, the more valuable the site.  Businesses can put this to great use.  With the greater the number of potential contacts, customers, clients and partners to connect with, there is increased potential for creating new sales relationships.  This can be especially helpful for smaller businesses, where each individual contact is a large step to spreading the word of their products and services.  Also, since most SNSs are free of charge, there are little-to-no financial constraints involved.

There are many similarities between using a social networking site for business, and using one for personal reasons.  In each situation, you are typically attempting to reach out to as many people – clients or friends – as you can, with as little effort as possible.  When looking to hire or looking for a job, word of mouth – via SNSs – are going to offer the most potential opportunities in this current tech-focused atmosphere.  And, as I have found to frequently be the case, if you aren’t “plugged-in” to the SNSs, you really do tend to miss out on what’s going on with people, in your town, or even that meme of the week.  If you don’t know what events are happening, you may miss the opportunities to connect with people and expand your relationship – or your business – with them.

http://www.nbcnews.com/id/5488683/#.UUksaFf3DQE