Social Networking Sites: Guidelines For Creating New Business Opportunities Through Facebook, Twitter And LinkedIn

The characteristics of social media and their impact on business are explored and several guidelines for companies that decide to employ SNSs in their activity are proposed.

Abstract

The world is swiftly evolving. We now face the challenge of adapting the business sector to the increasingly dynamic transformation brought about by Web 2.0 technologies and social networks in particular. The extensive use of social networking sites (SNSs) such as Facebook, Twitter and LinkedIn has spawned questions regarding the possibility of using such new platforms in order to generate more business revenue. While it is demonstrated that social networking can be profitable for companies and their brands in terms of exposure, brand awareness and actual sales, it can also prove detrimental if not managed correctly. At the same time, SNSs can affect every aspects of the business environment, like product development, marketing communication or the process of recruiting. This article explores the characteristics of social media and their impact on business and proposes several guidelines for companies that decide to employ SNSs in their activity.