In pursuit of growth, businesses have relied on networking for decades.
In the past, social networking for business meant trade shows and displays at local fairs and exhibitions. Today’s technology takes that networking to a 24/7 activity.Jodie Gilmore’s Page 6 story in the Innovation & Technology section explores the online social networking explosion and how businesses are taking advantage of it.
In the late 1980s, the idea of desktop computers at every work station minimizing social interaction by moving to an all-electronic experience led to the sociological concept of hi-tech/hi-touch.
Social scientists of the time reasoned that because we are by nature social beings, we would simultaneously have a need to advance our use of technology and need to maintain a level of in-person contact with others – hi-touch.
Today’s social networking technology seems to provide a level of sophistication, replacing the hi-touch component with hi-contact.
What does this new use of technology mean for businesses?
The sheer volume of users of social networking (Web 2.0) seems to mandate its use by businesses. Knowing that nearly half of small businesses don’t have a website, it calls into question whether they will embrace Linked-In, Facebook, MySpace or Twitter.
These might just be small business’ solution to a website. With little effort and no up-front cost except the time to follow through, a business can be in touch with its clients and customers like never before.
For years, businesses have wrestled with how to create customer loyalty. Preferred customer opportunities, newsletters, private sales and discounts – all dependent on gleaning precious information customers were somewhat reluctant to provide. Now these same customers can become online fans and friends and offer a level of information far more personal and detailed than we could have hoped for.
It sounds too good to be true, but true it is. Now, having gotten what we wished for, how are we going to manage this new form of relationship? Customers will certainly expect a level of responsiveness and added value from the business.
Having access to their online profiles, we can only assume their expectation will be to respect that access, use it to deliver targeted information from the business, rather than a message for the masses. They will expect a level of familiarity, and will likely have little patience for lazy interaction on our part.
This all requires focus and time on the part of businesses.
But what about ROI? What about attracting new customers to the business?
New technology is always exciting when the possibilities it opens are imagined. Will these possibilities result in growth and profit for the business?
In the end it must be a sustainable practice and ring the cash register profitably.
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