In the past ten years, social networking has not only revolutionized the way we communicate and receive information, it has completely reshaped the face of commercial advertisement. Big name social network sites such as Facebook, Youtube and Twitter are worth billions of dollars and have become the pinnacle of online advertisement. Almost anywhere you look you can find that little Facebook symbol along with an advertisement or a link to Youtube to see a promotional video.
Social networking must be harnessed carefully though. Businesses need to be cautious of how they use social sites in advertisement, and in some cases need to weigh whether this option is worth it at all. At face value, the idea seems fault-proof, but it must be kept in mind that once your business is put in the hands of the public, that anyone from a loyal fan to a begrudged customer from years back can get their say on the web for everyone to see.
For a small business looking to get their idea out for anyone to see, Social networking is one of the least expensive options while still providing a massive viewer base. It makes great sense. But for an established business seeking to extend to larger audiences, caution should be used. For many businesses, the idea of using social networking sites is not even so much advertisement, but the idea of actively engaging the client base with the company. This is a great tool that can be used to gain trust from the customers and build up loyal ties with the public.
Social sites like Facebook can also be great for linking up with non-profit organizations and charity events which can do a lot of good for any organization. For many businesses, the idea of monetary gain from social network advertisement comes in second to getting a solid reputation and building strong bonds with local communities and real people. No matter where a company is looking to go with their advertisement, social networking sites will usually do them good if it is used properly.
Sources
http://www.inc.com/articles/2010/01/30-tips-for-using-social-media.html
http://mashable.com/2010/03/22/small-business-social-media-results/
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