Social network involves an array of activities including job search, hiring of workers, advertising and marketing, promotions, branding and sales and related activities. It serves as the link between the business and its various stake holders ranging from customers, suppliers and the government.
Social networks offer the business an all round advertising and marketing opportunity. Some commonly used forms of online marketing strategies may be or seem like an ‘on and off’ activity where by companies only advertise and market themselves in response to a similar campaign by their rival companies or when they notice their revenues, profits or sales are decreasing. According to business experts, this is wrong because businesses should not only aim at attracting but also retaining permanently their customers. To do this, a business should build a social net working relationship withy its stake holders.
Social network for business can be created upon the frequently visited and already existing social net works like Facebook, MySpace and YouTube. As customers visit these other social sites, which is likely to be done often and frequently, they can access the required and necessary information about the company which may be a sale offer, job opening, event sponsorship or an opportunity for procurement among others.
A company which places its job, procurement, events adverts and other related activities on these social sites is likely to reach more audience and realize more sales, profits and revenues when it has a promotional offer than another company doing so for the first time.
For business social net working to be fruitful, it should be properly planned. A business should ensure that it does not violate any of the federal laws on privacy and upholds its corporate social responsibility commitments. All contacts, communications and responses to and from the company transmitted in these social net work sites should be honest, ethical and professional.