Expand Your Business

A student essay reproduced without changes. The concept of a web page has been difficult for them so you'll notice the reference list at the bottom.

Social Networking: How to Expand Business Opportunities

By Mohamad-Taha El-Wali

A social network is, by definition, according to Deb Shinder “Social networking is a broad term that refers to the building of online communities based on common interests and activities” This is beyond important because based on the differences of opinions on these website provided by various people of many differing demographics, businesses and companies can make up conclusions concerning their own products and services and focus on how they can be improved, or on finding out which types of customers to target.

Social networks are not limited to just people sharing various opinions about anything and everything. Instead social networking sites divide themselves into subjects. For example anobi is a site specific for books, Athlinks is for athletic people, Buzznet is for music and there remain other networking sites that are just general such as facebook or twitter , which are the most famous.

This makes things easier for businesses because this way they would know whom to target and which websites they should invest in to promote their product. More now than ever, marketing teams have been focusing highly on social networking for promotional support because of the growing number of online users. There are many benefits that come out of this. According to David Wallas, An example is how to “help brand names reach the targeted customers in order to raise their interest. This helps in setting a clear distinctive position of the company brand as compared to those of their competitors”.

Another advantage according to David Wallas, is “attracting people towards the new product or service”. It is becoming harder and harder everyday to get people’s attention to specific products due to increased promotions and advertising that only bother most people. But there exists a new way to reach more customers in ways that they cannot phase out called viral marketing. This is the done thanks to the introduction of social networking.

As stated by Jayant Row “Once it is established that there are certain areas where you have an in depth knowledge that can be of use to many people, you would have made a reputation for yourself online, and probably lead to people recognizing you and your business as a reliable brand” . Companies don’t want to, but need to know and follow up on what the public wants and thinks in order to build a better corporate image. The main reason social networking is given its name, is because it is the place for people to talk and criticize based on what they know about the organization. This offers businesses direct insight into how they should act in order to improve their reputation

Another advantage offered to us by Sean R. Mize is “It is significantly cheaper to employ online social networking strategies than to pay for advertising.” We can reach clients through all communication channels for essentially no costs.

So a company in this developing trend needs to be ready and dive into the innovative applications being offered so that it can further elongate diversify its reach within the customer’s mind.

Sources

David Wallas, “5 Ways Small Business can Benefit From SocialMedia/Networking Sites”, November 15 2007 http://www.searchengineguide.com/david-wallace/5-ways-small-business-can-benefit-from-s.php

Jayant Row, “Benifits of Social Networking For Business”, Marketing and Advertising, April 12 2009. http://www.edubook.com/benefits-of-social-networking-for-business/4098/

Ryan Reese, “Social Networking Websites and Your Online Business” November 2 2010 http://www.buzzle.com/articles/social-networking-websites-and-your-online-business.html

Lisa Robin, “Using Social Media Effectively in a Small Business”, October 4 2010 http://www.buzzle.com/articles/using-social-media-effectively-in-a-small-business.html

Yiyi, “Social Branding - Social Networking Effectively Brands Your Business” 23 November 2010 http://www.mybuzzle.com/blogs/entry/Social-Branding-Social-Networking-Effectively-Brands-Your-Business

Micheal J Kohn, “The Perfect Business And Social Networking Community”, http://www.buzzle.com/articles/the-perfect-business-and-social-networking-community.html

Gordon Kincaid, “The Pro’s and Con’s of Social Networking”, March 13 2010, http://www.buzzle.com/articles/the-pros-and-cons-of-social-networking.html

Adriana Noton, “Business Solutions: Social Networking and Location Intelligence”, October 23 2010, http://www.buzzle.com/articles/business-solutions-social-networking-and-location-intelligence.html

Gaynor Borade, “Advantages and Disadvantages of Viral Marketing”, http://www.buzzle.com/articles/advantages-and-disadvantages-of-viral-marketing.html

Ridley Matthews, “The Don’ts in Business Social Networking”, August 23 2010, http://www.buzzle.com/articles/the-donts-in-business-social-networking.html

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Rahul Thadani, “How to Use Facebook for Business”, December 11 2010, http://www.buzzle.com/articles/how-to-use-facebook-for-business.html

Sean R. Mize, “Social Network Benefits”, http://ezinearticles.com/?Social-Network-Benefits&id=464645

Dachary Carey, “What Are the Advantages of Social Networking?”, http://www.life123.com/parenting/tweens-teens/social-networking/advantages-of-social-networking.shtml

Genevia Sawyer, “The risks and benefits of social networking as a business tool”, March 17 2008, http://www.temple.edu/newsroom/2007_2008/03/stories/socialnetworking.htm

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Deb Shinder, “Social Networking: Latest, Greatest Business Tool or Security Nightmare?” Mar 04 2009, http://www.windowsecurity.com/articles/Social-Networking-Latest-Greatest-Business-Tool-Security-Nightmare.html

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