Social Networking: What’s in it for the local business?

Have you been to a Chamber of Commerce event lately? Attended BNI* or another business networking function?

If so, you’ll quickly see the value of social networking. Why do you attend physical business networking events? Is it to meet other business owners and/or potential customers, learn about issues affecting your local business community, build relationships, offer value? Think of social networking as the online equivalent of a local business networking function.

A December 2007 Pew Research Center study asked the question, “Do you ever use social networking sites like MySpace and Facebook?” As you’d expect, results varied dramatically by age group. The highest concentration of social networkers in the US is within the 15-29 year old group. At least 67% of 18-29 year olds use social networking sites. (You can learn more about how many American’s use social networking sites on Frank Stutzman’s Unit Structures blog.)

And here’s the thing, it doesn’t stop at age 30. That’s just the largest group. There are still 21% using social networking sites in the 30-39 year old group. And I think the stats skew low because the question only specifically mentions MySpace and Facebook. Many of the over 30 crowd are on LinkedIn.

If marketing is the art and science of connecting companies with people, it begins by meeting those people where they are. Your target market may be hanging out on Facebook, LinkedIn, or MySpace. Maybe you should be too?

If you haven’t already done so, I encourage you to take some time to begin exploring how social networking sites work. Start by signing up with LinkedIn or Facebook. Build your profile, explore the site and observe how community members interact.

Keep it in context. Social networking is about meeting people, building relationships and offering value, just like in-person, local business networking. Make sure you don’t confuse it with an advertising campaign.

So what’s in it for you, the local business owner?

• Exposure to your online audience

• Meeting your future customers where they are

• The opportunity to start or participate in relevant conversations

• And eventually … targeted traffic to your web site and physical business location

Related Articles:

*BNI - Business Networking International

A Definition of Marketing in Nine Words

The Benefits of Social Media Marketing for Small Businesses

Pew Research Center – Numbers, Facts and Trends Shaping Your World

Event Marketing with Social Media

Photo Credit: nationalrural

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