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Social networking is a popular way for existing businesses to reach out to their customers or for new businesses to build a fan base. Utilizing these tools can be challenging for the novice. However, this should not discourage one from taking advantage of these well known, and mostly free, services. Many businesses have found that they can make money online simply by using social networking as an advertising and community building tool.
Establish a Presence
The first step in using social networks for financial gain is to create a dedicated profile. This profile should have enough information to allow potential customers to know what type of product or service is being offered. Also, a way to contact for more information should be well displayed and easy to find.
Provide Useful Information
All too often, companies only supply their followers with business updates and advertisements. This can become mundane. Friends and followers will frequently become annoyed and alienated. New businesses must find a way to relate to potential customers. This can be through motivational quotes, helpful tips, funny comments, or links to current news items.
Advertise Specials and Contests
An excellent way to spread word-of-mouth through social networking sites is by setting up contests. Many online networkers find success by offering prizes to individuals who encourage their friends to become followers. It is also wise to have specials that are advertised only to those who utilize the business?s social networking page.
Follow Others
One way to increase visibility is to find and follow other businesses that are laterally related to those products and services being offered. Getting in touch with already established online businesses can give new home-based ventures access to an otherwise unreachable customer base. It is also sometimes possible to work with other businesses for advertising purposes. When two online businesses choose to share each other?s wares, it is possible to greatly increase awareness for both parties.
Purchase Advertising Space
Online social networking services, like Facebook, can offer inexpensive alternatives to typical advertising costs. Choose a specific demographic, and focus any ads directly to them. In most cases, these ads are pay-per-click, meaning that each time an individual clicks on the ad, money is removed from the advertising fund. However, the simple appearance of an ad, clicked on or not, can be very effective without costing money at all.
Provide Regular Updates
Failing to update a social networking page on a regular basis is a big mistake for online businesses. Customers can quickly forget about product and service offerings if they are not regularly reminded of their existence. It is wise to plan several updates well in advance, releasing them each day or even several times per day. Remember to keep updates relevant and interesting.
What Not to Do
When building a following through a social network, it is very important to safeguard personal information. Because these types of sites are created largely for people to interact on a familiar basis, it is easy for some who are attempting to make money online to make mistakes, such as sharing a home address. Contact information must be provided, but safety should never be sacrificed.
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