Social Networking and its impact on the business world

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A few years ago, social networking was unheard of. Today, the world?s largest technology company relies on Twitter and other such forums of social interaction to communicate and transact business deals worth millions. Of late, commercial relations of various types have been starting online. And the reason? Networking.

Twitter, Facebook, YouTube, and MySpace – these are the primary pillars of the social networking revolution, apart from an assortment of several other such sites. Today, these sites serve as a sort of company news-letter, job application centre, and a common forum where virtual meetings are held and decisions made. Says Adam Christensen, manager of social media communications for IBM, ?It?s the best way to engage with your customers. And there is no top-down mandate on employees to adopt this form of interaction. One employee started using it one day and influenced another, and so on.?

The convenience and efficiency of instant communication is driving more and more international businesses to go ?the twitter way? as they like to call it. Today, social media has an effect on the outcome of elections, government policies, business deals, celebrity gossip?.the list is endless. Social media is slowly emerging as a stand-alone industry of its own. Especially at a time when the economy is still recovering from a slump, where television advertising budgets are on a rise, there is mounting interest being shown in online advertising and publicity through such networking channels, with the response being quite instantaneous.

And when it comes to a comparative evaluation between these sites, twitter emerges the clear winner, closely tailed by facebook, in terms of cost-effective communication and quick responses. ?Little bits and pieces of spontaneous thoughts and speech. Anywhere, anytime.? – That?s twitter for you, and that?s why it is so popular.

Our society is one that is driven by an insatiable hunger for speed and thus, the revolution of such mediums of effective communication has further emphasized the importance of constant connectivity. So, ambitious entrepreneurs and other aspiring members of the business fraternity, this is your ideal haven!

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