These are only few of social networking benefits - Authority status, forming new business relationships, profiling and getting known.
These benefits apply not only for the owner of a social network, but for the members as well.The social networking benefits both parties as long as you don't take more than you give.
What are the social networking benefits for the owner?
1. When owning a social network you can attract members by publishing fresh and interesting content. The more members you attract the more influence, credibility and trust you build in this specific area and you get worldwide exposure.
2. When you publish material about a specific subject, the chance grows that your members start to see you as a leading figure or so called “authority” in this subject. This is likely to get you more members through improved search rankings and recommendations from members. Also there is a good chance you will be approached by advertisers who will ask you to advertise their products or services on your site as it has an authoritive role in the specific market.
3. Owning a succesfull social network is a big advantage for your business. Not only will it raise the value of your virtual real estate or your business asset, it will also provide you with a group of people who you can contact to promote your products and services.
4. When you have a solid social network you can start to diversify your revenue streams. The most obvious one is to make your site available for companies to advertise their products and services. However, this is not the only way to make money from your social network. Think about ways like paid membership, merchandising, Newsletter & Email Sponsorship & Promotions etc.
5.When you own a traditional web site, you to create, publish or syndicate fresh new content.
A social networking or an online community site can provide you with great leverage in this area, because every members of your online community is a potential contributor to the growth of your site.
What are social netwroking benefits for members:
1. By being a member of a social network you get the chance to share knowledge and experience with fellow members, which can turn out to be incredibly useful.
2. You can form new business relationships by posting and responding to discussions on the active forum, participating in blogs, inviting other members to become friends.
3. You can get known and promote yourself by having your own blogs, adding a full description in your profile, logo and link to your web site and participate in discussion.
4. You get the chance to form a formidable partnership with other members. The trick is to find someone who best complements your business; that is the easiest way to success. Approach people / businesses, which complement yours and ask them if they are interested in working with you towards a common goal.
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