Social networking ‘good for business’

Taking advantage of social networking can help SMEs to grow because 'successful businesses are built on relationships', experts claim.

According to the Social Media Portal (SMP), a service which maps social media and user generated content, social networking can help to promote and improve relationships with clients, suppliers and peers.

Co-founder and editor for the SMP Tim Gibbon says that the role of social networking in society is already ‘huge’.

He adds: ‘You can meet online to thrash out ideas and so on, then extend the relationship with a face-to-face meeting.’

But the ‘challenge’ of social networking lies in making a business’s use of the medium ‘relevant, useful and vibrant’, he advises.

Gibbon explains that it is also important to understand the ‘culture’ of social networking, ensuring that they exploit the form of communication and share their expertise with others.

According to Elemental, businesses should ensure that they are making the most out of social networking by recognising the best way of using it, making sure their profile is kept up-to-date and having guidelines for employees considering using the medium.

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