Social Networking; How to use it in your business

Social networking, a relatively new term in the online world, has spanned across the ages. Not only do the youth of today swear by social networking, but now more mature business leaders are using it too. 

Social networking is making communication quicker simpler and easier. It has a huge business potential and if used wisely can ultimately contribute in reaching out to your targeted audience in a cheap and effective manner and hence increase sales.

Social networking sites like Linkedin, Facebook and MySpace allow people to form communities.  It also provides a platform to communicate with each other, and the opportunity to extend your social circle. Although MySpace is still thought of as a way for teenagers and young adults to interact with each other, but is also starting to have business applications.  Facebook started out as a tool for universities, but is quickly giving way to business applications.  According to www.californiabusinessresource.com, Linkedin is used primarily for professional relationships. Social networking can help your business in the following manner:

Finding potential buyers

If you have access to potential buyers social networking provides you a special opportunity. Just look for people who have similar interests and when you are able to turn one of them into your customer, you are bound to be recommended to a widespread circle of friends and hence a definitive increase in your sales.

Linkedin is a great way to do this.  Let’s say that you sell to accountants.  You can do a search on linkedin to see who your contacts know that are accountants.  You can then call your contact and ask for an introduction.  Offer to pay for lunch or coffee for the three of you if you meet in a restaurant.  Combining technology with a personal touch is always a good idea.

Communication

Social networking is a common platform for people to communicate and so it can be the fastest and cost effective way of advertising. You can join networks or communities that are closely associated with the kind of products and services you offer, and can you use them as a medium for promotion. If someone uses your product, he or she may recommend it to other people. It is your responsibility now how you engage them and turn them into your customer.

Of course this can be a double edged sword.  If someone uses your service or product and doesn’t get what he or she expected, you can be sure that there will be ramifications because of that. Make sure that if you are using social networks to promote your business, that your customer service agents are up to the task.

Keep in Contact       

You remember only those who stay in touch with you, and the same goes for business. People tend to do business with a trusted few, and to win that trust you have to constantly show your presence. Be an active member of whatever group you join and interact effectively.

For example, if you use the service Linkedin, be sure and join the groups that pertain to you.  Linkedin has the capability of linking your blog to your contacts and group members.  Make sure that you keep your blog up to date.   In addition, Linkedin allows you to post news articles, ask questions, and answer questions.  If you are going to market your service via Linkedin, you should post a new article at least monthly, ask a relevant question, or answer a question on a regular basis.  This will keep your name in front of your Linkedin contacts, and when they need your product or service they are more likely to think of you.

Understanding consumers

Social networking is a great medium to understand what the customers needs are, and what can be done to fulfill them. This helps in coming face to face with the underlying sentiment of the market and you can then steer your efforts in the right direction. The improved product that meets the client requirements is sure to find many takers.

Customer relations

You can use social networking to talk to your customers and improve customer relations. With limited budget to spend on the marketing strategies, social networking comes handy to prove your credibility and reliability to the customer. Your efforts should be directed to retain your existing customer base and to find new prospects.

The challenge here is to find out the site that is best suited to your market needs and the commitment to be active on all the mediums you choose. There are social bookmarking sites like http://del.icio.us and social news sharing sites like http://digg.com, http://newsvine.com, or http://squidoo.com that you can use to your advantage. Social networking can serve as a great, cost effective tool for marketing and to increase your sales. But keep in mind that all your buyers won’t be online so use social networking for complimenting other mediums of propagating your business.

For more information on lead generation, visit http://www.californiabusinessresource.com/Lead_Generation.html