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Making Money With Social Networking Sites

Aug 17, 2007
In many instances, social networking software is taken for a medium to develop online friendships or relationships. While, such activities are common, social networking websites are also used to promote business. That was the original thought, based on which social networking was started. If you have an online business, there are ways to utilize social networking sites to your advantage. Although social networking sites are traditionally for development of friendships and online relationships, there are several of these websites catering for business owners.

These traditional websites would not only allow you to develop business relationships with other organizations, and exchange relevant business information, it would also allow you to build close relationships with the ones who share common interest with you. This varied use of a social networking site, make the users stay longer on the site, establishing their social base, which develops into groups and communities. In course of time, you not only have the knowledge of considerable business information exchanges, which you can use to your benefit, but you can perhaps get new business directions, and partnering with a new friend who you met in the network.

While you create your profile in one of the social networking websites, you should mention about the kind of business that you are in. If you are considering joining an online community, it is advantageous if you create your own profile or profile page. In case the website is of the traditional type, you need to be careful in preparing your online profile or webpage, when you are considering joining one of them. You will meet several people, and the one thing that you should remember, that internet users do not like business solicitations. This of course does not mean that you cannot use the network to your advantage. You just need to be careful on how your profile is presented.

Social networking websites are a great place to promote your business. At the same time, with business in mind, you should not give up exploring those traditional websites, which provide you with the facility to form friendships and close relationships. Although you might not learn much about any valuable business information, it just might be, that while you join the groups and communities, and spend time on these social networking websites, you may be able to get many interested in your products, turning them into your new customers. Your business strategy needs you to develop newer customers all the time, and social networking websites are the places where you can find them in plenty.

Like any other internet business, your social networking software can generate revenue for you. Many of the existing social networks are in big business and thriving from the kind of services they offer and products that they sell. They have been able to build up their customer loyalty, and have been able to retain its members. The users of these social network websites are constantly inviting their friends to join, establishing their ever growing social base, with effect that your marketing messages are being repeatedly seen by many. This builds up your brand, and as it does, the other online business get interested in advertising in your social network websites. Revenue starts to flow in.

The first and foremost strategy in having a social networking website should be to attract users to use your social networking software to build up relationships with others. The software must be able to provide tools to the users, which would help them to establish their social base, adding on members to your site by inviting their friends to join the network. Before you can think of any revenue turn-over, you must have a solid customer base. Unless you have been able to achieve customer confidence, your social network would never be a financial success.

Any social networking website should have the capability to retain its customers. This is possible only when your website meets the interest of the users. One could be that would allow the users to put up their classified advertisement free of cost, and the other could be the availability of free music library. Your social networking website should essentially allow blogging, and the use of forums will be very much of interest to any user. You may allow the users to put up their personal video clips on your website, which they can share with their friends on the network. There could be a space reserved for the users to put up their picture albums, to be shared with their friends.

The initial stages of planning a social networkin website are very critical. The thought at first has to be around the idea of retaining the users. This would need planning. Based on the plan, you should choose the right social networking software in planning your social networking website, and you must look into all aspects of how you can attract the users to spend longer time on your network. That should be a start of success.
About the Author
Ron McNeil promotes social network software to start your own community software site powered by WebScribble software located at http://www.webscribble.com/products/webnetwork/
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