Social networking is an important part of the success of a business, it serves as a way to connect individuals with other people and businesses to share information, ideas, and to form mutually beneficial relationships that provide assistance and support to each other over time. Companies use social networks, to create and increase brand recognition, promote products and services, and to answer customer queries and concerns.
Social networks are important because they allow people to develop relationships with others with whom they might not otherwise be able to connect. It also helps boost business productivity when used for public relations, marketing, and advertising purposes.
Social networks can be either with customer segments, business partners or your own employees.
Some of the results and advantages that may be reached in the process of business networking:
- network of partners built to keep an open eye and ear for new mutual opportunities
- targeted individuals reached for the own business in two ways: directly or indirectly (through network)
- own network expanded through colleagues/staff
- visibility built within the industry or profession where the company operates
- visibility built within the local community to assist the company to develop a reputation as an employer of choice, leading to high chances of recruiting and retaining great employees
- a strong network built with coworkers within the company to accomplish work more successfully by utilizing the network of mutually beneficial relationships networks created with diverse groups of people (other circular business people and professionals) with whom new ideas can be shared.