Social networking is not only for the dewy-eyed teens in high school waiting one day to become CEOs in the world of Web 3.0. Yes, social networking is fairly new, but we need not wait for it to grow to its full maturity before we integrate it into our businesses.

Unfortunately, many company owners dismiss social platforms as puerile and not germane to their own business model. More of us are coming to see this line of thought as an elementary mistake. The fact is social participation boosts recognition, strengthens credibility, and can ultimately make your business more money.

Are you not entirely convinced? Notice the following points to partake in social networking:

- You will become more transparent to your customers
- Your company will have a stronger informal voice
- It is another way to market and advertise products and services
- You will be able to increase the allure of your brand

What is a social site?

How popular is it… really?

Not only has Internet usage increased dramatically in the last few years, but a Nielsen study revealed social networking sites’ traffic increased at a rate of 47%. The Web is becoming more diverse. Social sites include video, audio, still images, animation, etc. These elements are highly present on social sites. If your company is not growing with the times, its success will be stunted.

Obviously, you will not be alone in providing presence. It is predicted over the next four years U.S. ad spending on social networks will grow 180% (WSJ) from $900 billion to $2.5 billion.

An American ‘fad’?

Language becomes a barrier at times, but most social sites have their hosted content translated into native tongues so all users are ‘on the same page.’ According to an eMarketer analysis, South Korea, China, Mexico, Brazil, and the United States use social sites most often.

With whom are you trying to connect?

- Many companies target teens and young adults. This population is known for spending generously, and it makes sense to consider them since they have the opportunity of being with your company throughout their lives. An 07’ Pew Internet and American Life Project study asserts over 90% of teens visit social sites of some form and about 60% create a profile which they regularly utilize.

- Women account for a large percentage of consumers. An 07’ American Marketing Association survey outlined that women are often influenced by information on social sites and use their findings to make a purchasing decision.

- Reuters found that affluent customers frequent sites such as YouTube, MySpace, and Facebook. From 8/07 to 10/07, over 1,000 online consumers with an average salary of over $150k were surveyed and more than 40% admitted using these sites.

What it all means

- Wouldn’t you love to know what your consumers are thinking? Now you can interact with them directly through social sites. Receive suggestions and critique that will be priceless for your company.

- You can let your customers know more about your company. You can include philosophies and mission statements that other marketing techniques do not entail. Customers enjoy buying from a company they know more about.

- Yes, it is another form of advertising and marketing, but it is less formal. Consumers will feel like they have a more ‘inside’ scoop of product and service information.

- Participation ‘gets your name out there.’ The more times people are confronted with your brand name, the more likely it will be they will become one of your customers.

In conclusion, it is highly advised to participate in social sites. Perhaps you don’t have the time to make it a high priority, but it would be smart to have someone in your marketing department devote time to the task.