Think online social networking sites are just for singles and students? Well, think again, say small-business experts. With millions of registered users frequenting such sites as MySpace, Facebook and LinkedIn, it’s time your small business started to look at ways to leverage these and other social networks to boost business.

“It’s virtually low or no cost for entry,” explains Adam Schwam of Long Island-based Sandwire, an information technology consultancy. “It allows individuals to post information about themselves, others and their business to a wider audience than they would normally meet in person.”

You can use these sites to connect with potential new customers, post jobs, find strategic partners and investors and build brand awareness, say experts.

“It increases word-of-mouth marketing and buzz,” notes Ross Johnston, vice- president of business development at Vancouver, Washington-based Dotster Inc., an Internet business services provider that can create customised social networking platforms for individual companies.

In essence, these sites allow you to build an online network of friends and associates. Most enable you to post your profile, work history, interests, education and other information that might help people find you. They also allow you to participate in groups and forums, as well as post and answer questions. You can either sign up directly or be invited by a friend or colleague. Most sites are free, but some may charge nominal fees for enhanced services.

You build your network by sending out virtual invites to friends and associates. Once you’re connected with an individual, you’re able to see a list of contacts within their network and they’d be able to do the same with yours. “You really only want to connect with people you know and trust,” advises Kay Luo of Mountain View, California-based LinkedIn, a business social networking site. “The strength of your network really comes from relationships you have with the people you’re connected to.”

Otherwise, you risk drawing unwanted solicitations. “You don’t want salesmen hitting up every person in your network,” says Rich Kruse, a consultant for the New York Islanders and president of ExecuLeaders, a business networking association, who belongs to LinkedIn and Facebook. Kruse gets invited to new social networking sites regularly but chose the two he found most of his friends and colleagues participating in. He has used them to generate interest for ExecuLeaders as well as new business opportunities.

When picking sites, select those that best match your goals and audience, suggests Johnston. “If you want mass market, you probably want to be in portals like MySpace and Facebook,” he notes.

MySpace had 114.5 million unique visitors in May alone, while Facebook had 123.8 million for the same month, according to comScore Inc. in Reston, Virginia. Start with one popular site and get your feet wet, suggests Schwam.

That’s what Steve Schwimmer, Long Island regional sales and relationship manager for Renaissance Merchant Services in Bohemia, has done. He joined LinkedIn about six months ago and says he has been slowly building his network and exploring the site.

Like Schwimmer, you need to take the time to familiarise yourself with a network, says Schwam. “Get involved in community and focus groups and participate in discussions,” he advises, noting that an online networking environment isn’t much different from a physical one.

The bottom line is you get what you put into it.

Sources: The Telegraph (Kolkata, India)

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