Business made easy by Social Networking

A paradigm shift
In the famous words of Thomas L Friedman – the world is flat. Business and commerce globally have seen a paradigm shift with the advent of global networking metaphorically represented by the internet. The use of Social Networking is characteristic of this shift which has taken the world by storm with sites like Facebook and Twitter becoming the modern day lexicon.

Managing perceptions
Business today depends far more on modern methods like social networking to reach and serve its customers. From firms to film stars – it is now a common practice to interact with your target audience for getting a feel of what they think about you and propagate your thoughts and views on them. But a mere conversation is not enough. It is imperative that you selectively leverage your interaction with the target audience to make a perceptible yet subtle change in the way you are perceived. Take the case of what Comcast has done on Twitter. Without making any significant change in the way they service their customers, they have been able to make a change in the way their clients perceive them.

Selecting what works
Social networking is more predominant among young ITES organizations, yet conventional manufacturing organizations have also tried to delve into its business benefits. These firms sometimes experiment internally with their business associates through tested options like SharePoint or Web 2.0. This has seen the genesis of a collaborative approach towards innovation on the web. The most revolutionary use of this approach has been the development and use of Linux as a freeware. The choice is yours – see what benefits you most.

Core business benefits
You can create and improve your brand image online through social networking. For e.g. in Facebook, you can create a pointer to your website which provides promotional data and introduces clients to your client or website. Similarly, in LinkedIn, you could put up a showcase event or roadshow which your company is sponsoring. Even in audiovisual networking sites like YouTube, you could upload a video showing an award your company has won or a prominent speaker delivering an address at a marquee event supported by your organization. The options are seemingly boundless.

In a time and age where b2b and b2c opportunities are endless, social networking is a vital cog in the wheel of a corporate brand building, managing stakeholder perceptions and attracting & retaining clients. But given the intellectual property drove business realities, it would be wise to take the time to decide the path you would be most comfortable with. So choose wisely and enjoy the plethora of benefits which social networking can bestow on your business.