THE USE OF SOCIAL NETWORKING IN BUSINESS

The Pros and Cons

OCTOBER 14, 2013

KENNETH DANEIL Cass Technical High School

2 Kenneth Daniel It wasn't until 1997 that the Internet reached 50 million users in the United States. Facebook gained over 100 million users in the U.S. from January 2009 to January 2010. If you're a business owner that hasn't embraced social media networking as a major component of your success strategy, it's due time to hop onboard.

While Facebook has become the most popular social media site, there are plenty of others for your company to explore. LinkedIn, for example, houses 55 million professionals seeking jobs, employees, or basic business or networking opportunities. The user profile is generally what distinguishes social networking sites from other social media platforms. It helps set the stage for building relationships with people who share the same interests, activities, or personal contacts, as opposed to primarily disseminating or digesting information feeds. This also means social networks enable companies to invite audiences to get to know its brand in a way that traditional forms of marketing or advertising can't. Online social networking sites have taken business networking to a new level. Many business people put the popular, general social networking sites such as Facebook and Twitter to good use. Other sites, such as LinkedIn, offer social networking targeted more to business connections. Ryze, Ning, Meetup and other Web sites provide business-oriented social networking and help professionals develop their own networks online. Some people also make good use of blogs -- their own, or someone else's -- for networking. Social networking sites can be valuable. They help you reach out to people at your convenience, without having to attend events or meetings. Communicating on Facebook or LinkedIn is a lot less stressful than trying to strike up a conversation with someone you barely know. These sites make it easy to connect with people no matter where they are. They can be a good way to get the word out about developments in your business.But good business networking shouldn't begin and end with online social networking. Those who study such things say that social networking sites enhance but don't replace face-to-face networking. Follow-up is important. Relationships must be nurtured. The type of Website you use can also affect the outcome of your Social Networking career. Facebook for example is one of the most used Social Networking site for business and social use. Facebook is one of the most social of all Social Networking sites. Many people go

3 Kenneth Daniel to Facebook to connect to family and friends and people they have not seen in a long time. There are games to play, silly gifts to give and all kinds of other Fun things to do. However, there are many ways that Facebook can be used to promote your business as well. First, although Facebook has the option of creating a business account, it is better for you to set up a Personal Profile for yourself that will be solely used for the purpose of promoting your business. It is very important that you familiarize yourself with Facebooks Terms of Rights and Responsibilities in order to make sure you are following their rules. For example, Facebook has a policy that does not allow people to maintain multiple accounts. Therefore, if you already have a personal account, you will either need to set up the company profile under the name of someone else in your company that does not already have an account with Facebook or forgo using your personal account for anything other than to promote your business. Twitter on the other hand was originally inspired by the concept of the Away Message and began as an experiment in 2006. It is because of Twitters ability to instantly communicate during such emergency situations as earthquakes and civil unrest (i.e., as in Iran), and shared events such as conferences and festivals, that gave way to Twitter as we know it today. Twitter allows your business to partake in realtime communication, connecting you with your followers and other potential customers which in todays competitive driven business. Dont think of Twitter as just an advertising medium. Use the search box on your homepage to search for other professionals in your field. Use key terms, specific to your industry such as Patents and Intellectual Property to search for mentions of these key terms by other professionals, customers and potential customers. When you find interesting tweets you can choose to follow those individuals who posted the tweets. Dont assume that people will know you are following them on Twitter, because although when you first set up your account you get emails to let you know when you have new followers, some folks will choose to turn their notifications off. So say hello to be personable. Evaluate customer feedback, interaction with your followers and pay attention to engagement levels. You can ask questions, brainstorm, float ideas and solicit feedback on Twitter in real-time. Dont be afraid to ask users what they think about your products, especially if the product offering is new. Keep a tally of questions youve answered, problems that have been resolved and positive exchanges youve had through your Twitter account. Use unique coupon codes if you offer deals via your Twitter account to track customers that are coming to you as a result of your twitter account. Lastly LinkedIn has more professional users than any other site. In fact, it has the greatest

4 Kenneth Daniel number of searchable, reachable and approachable executives and corporate decision makers than any other social media venue. But with all of the social networking sites available today, what is it that makes LinkedIn stand out above the crowd? Perhaps it is the fact that LinkedIn has created its social media platform with the professional in mind. Following is a three part series highlighting 20 steps you can take to promote your business using LinkedIn. Complete your profile 100%. Linked in is one of the top results that pop up in a Google search when people search for your name. Having a complete LinkedIn Page will helps you stand out above those with less complete pages. Your Linked In account is the equivalent to an online resume or perhaps an executive bio as it has most of the same components. A complete profile increases your credibility and tells those finding you This is exactly who I am. When setting up your profile, include all current and past employment, in the Experience Section of your profile. Also add all of your education and degrees earned in the Education section and be sure to showcase all of your pertinent work experience in the Professional Experience section. By adding URLs to your LinkedIn profile, you can increase your search engine results by adding additional ways for others to locate and learn about you. Use call to action catchy phrases such as Ideas for new inventors or Follow me on twitter with a hyperlink to where you want them to go, rather than an unsightly long URL String. This not only looks more professional but also lets people know where you are sending them. LinkedIn offers its users the ability to create niche groups that are of interest to them. Create more than one group, perhaps one pertinent to your industry as whole and other targeting specific areas within the industry. Creating a niche group allows you to showcase your professional expertise and knowledge while allowing others within your industry to join your group and to share their expertise and exchange specific knowledge with one another. You can use the group to interact with like minded individuals. Some ways you can use the group would be to post articles from your website, links to your website or blog, post job descriptions and job openings, and send messages regarding your business or your industry to all of the members in your group. Once you have created an account for your business, fill out your profile as completely as you can. This is your best advertisement and will help you start to establish your brand. Be sure and include your contact information along with your personal web site or blog URL. You can upload a professional or business casual head shot of yourself as your main profile photo in order to add to your professional image and put a personal touch on your page. If you wear a uniform

5 Kenneth Daniel all of the time, you may want to wear your uniform for your profile photograph. Remember you are your brand so you want to pay attention to all of the details that will help build your brand. So how are Social Networking Sites like Facebook, Twitter, LinkedIn, and Meetup (Just to name a few) help small and large business succeed in the 21st Century. First you need a stagey. Before opening an account and becoming active, it's important to consider what each site offers and how you can benefit from their resources. Without a fully developed plan for your social networking activity, you could end up meandering throughout the sites and wasting a lot of time. First consider the primary goal of your social networking strategy. Do you want to recruit employees for a certain department? Do you want to market a new line of products? Next ask yourself (Who's going to manage my page?, Who has access to my page?, and What am I using the site for?). Figure out what your needs are. Are you short-staffed? Is your advertising budget running thin? Would your social networking activity fall under a current employee's responsibilities, or do you need to bring on new talent? What type of trust level do you have established at your company? Will all of your employees have access to the social network account, or a select few? These are all questions you have to ask yourself before you begin to create your On-line profile. Professionals tend to belong to multiple social networks for different purposes, even multiple social networks for strictly business purposes . Of these social networks, the major three people use for business is Facebook, Twitter, and LinkedIn. These three have emerged as the leading business social networks. Now Social Networking sites can be used to also promote your business. Social networking sites provide opportunities to get the word out about yourself and your business. Unfortunately, many people dont have a clue how to use these tools effectively. Before you can use your social networking sites to promote yourself and your business, you need to promote those social networking sites themselves. The more open you are on your social networking site the better. To get maximum exposure, configure your privacy setting to allow everyone you see what you post. With these profiles it cant be about you and your business. Social networking is designed to be interactive. Its most effective when you dont just use it as a broadcast medium for way too many messages, but also truly interact with your contacts. That means letting them

6 Kenneth Daniel know that youre reading their posts, whether by posting comments, hitting the Like link, retweeting their relevant posts, or sending direct messages. This is the way you really connect The worse type of profile is a dull profile. Sometimes, words just arent enough; often they dont even stick in a persons mind nearly as long, nor as positively, as visual images do. Todays social networking services make it easy to dress up your post with pictures and videos. Social networks connect people at low cost; this can be beneficial for entrepreneurs and small businesses looking to expand their contact bases. These networks often act as a customer relationship management tool for companies selling products and services. Companies can also use social networks for advertising in the form of banners and text ads. Since businesses operate globally, social networks can make it easier to keep in touch with contacts around the world. LinkedIn.com and Youngblackprofessionals.org. LinkedIn aims to interconnect professionals. LinkedIn has over 100 million users in over 200 countries. Youngblackprofessionals.org or YBP aims to do the same thing, but is targeted toward professional minorities. Another is the use of physical spaces available to members of a social network such as Hub Culture, an invitation-only social network for entrepreneurs, and other business influential, with Pavilions in major cities such as London, UK. Having a physical presence allows members to network in the real world, as well as the virtual, adding extra business value. Social networking is a great marketing strategy for businesses. But it is important to analyze each networking site before a business opens an account to promote a service and/or product. Businesses should create these accounts based on the answers of the following questions. What are the businesses needs? It is important to use this account to satisfy a business need, instead of just socializing Why is the business using this site? After the needs are discovered, one primary objective must be established. Who is the target? Businesses have to know who their marketing is directed to. For example, a car wash place will target car owners only. Social Networking is the new way to put your business, organization or life online. Social Networking Sites like Facebook, Twitter, MySpace and Flixster are all getting billions of views each day all over the world. It is important to realize that Social Networking will not simply generate a revenue stream for you. Like any tool, you need to work at it. If you make your

7 Kenneth Daniel products available through incentives, showcase your expertise, and be sure to follow up with each and every person who inquires about your products and services. So to sum up my Research. Social Networking does help your business but at the same time you have to put in some Time, Work, and Effort.

8 Kenneth Daniel

How Social Network is used in Business

Developing a Social Networking Strategy

Reasons why Social Network is used in Business Before opening an account and becoming active, it's important to consider what each site offers and how you can benefit from their resources. Without a fully developed plan for your social networking activity, you could end up meandering throughout the sites and wasting a lot of time Figure out what your needs are. Are you short-staffed? Is your advertising budget running thin? Consider the primary goal of your social networking strategy. Do you want to recruit employees for a certain department? Do you want to market a new line of products? Would your social networking activity fall under a current employee's responsibilities, or do you need to bring on new talent? What type of trust level do you have established at your company? Will all of your employees have access to the social network account, or a select few?

What are the needs of my business http://www.inc.com/guides/using-social-networkingsites.html What am I using the site for

http://www.inc.com/guides/using-social-networkingsites.html

Who's going to manage my page

http://www.inc.com/guides/using-social-networkingsites.html

Who has access to my page

http://www.inc.com/guides/using-social-networkingsites.html To promote your business

Just because you built it doesnt mean theyll come

http://www.techrepublic.com/blog/10things/10-waysto-use-social-networking-tools-to-promote-yourbusiness/1760

Social networking sites provide unprecedented opportunities to get the word out about yourself and your business. Unfortunately, many people dont have a clue how to use these tools effectively. Before you can use your social networking sites to promote yourself and your business, you need to

9 Kenneth Daniel promote those social networking sites themselves. The more open you are on your social networking site the better. To get maximum exposure, configure your privacy setting to allow everyone you see what you post. Posting regularly is important, but its just as important not to over-post. Social networking is designed to be interactive. Its most effective when you dont just use it as a broadcast medium for way too many messages, but also truly interact with your contacts. That means letting them know that youre reading their posts, whether by posting comments, hitting the Like link, retweeting their relevant posts, or sending direct messages. This is the way you really connect Sometimes, words just arent enough; often they dont even stick in a persons mind nearly as long, nor as positively, as visual images do. Todays social networking services make it easy to dress up your post with pictures and videos.

Dont Flood the market http://www.techrepublic.com/blog/10things/10-waysto-use-social-networking-tools-to-promote-yourbusiness/1760 Not all about you

http://www.techrepublic.com/blog/10things/10-waysto-use-social-networking-tools-to-promote-yourbusiness/1760

Dress it up with Multimedia

http://www.techrepublic.com/blog/10things/10-waysto-use-social-networking-tools-to-promote-yourbusiness/1760

Business applications

http://en.wikipedia.org/wiki/Social_networking_service

Social networks connect people at low cost; this can be beneficial for entrepreneurs and small businesses looking to expand their contact bases. These networks often act as a customer relationship management tool for companies selling products and services. Companies can also use social networks for advertising in the

10 Kenneth Daniel form of banners and text ads. Since businesses operate globally, social networks can make it easier to keep in touch with contacts around the world.

Examples of social networking being used for business

http://en.wikipedia.org/wiki/Social_networking_service LinkedIn.com and Youngblackprofessionals.org. LinkedIn aims to interconnect professionals. LinkedIn has over 100 million users in over 200 countries.[78] Youngblackprofessionals.org or YBP aims to do the same thing, but is targeted toward professional minorities. Another is the use of physical spaces available to members of a social network such as Hub Culture, an invitation-only social network for entrepreneurs, and other business influential, with Pavilions in major cities such as London, UK. Having a physical presence allows members to network in the real world, as well as the virtual, adding extra business value.

Businesses are Benefiting.

Businesses, both large and small, are undoubtedly benefiting significantly from consumers shift to new media outlets such as social networking sites as a way to obtain information. Initially, businesses emerged on the internet with traditional individual company websites. However, as new media has evolved, so has the way companies market via new media. Today, many companies, both large and small, have begun focusing their efforts on collaborative websites including but not limited to social

11 Kenneth Daniel networking sites such as Facebook or MySpace, blogs, forums, and even YouTube.

Social networking is a great marketing strategy for businesses. But it is important to analyze each networking site before a business opens an account to promote a service and/or product.

Businesses should create these accounts based on the answers of the following questions.

What are the businesses needs? It is important to use this account to satisfy a business need, instead of just socializing Why is the business using this site? After the needs are discovered, one primary objective must be established. Who is the target? Businesses have to know who their marketing is directed to. For example, a car wash place will target car owners only.