It is becoming increasingly evident that more business users are jumping online during the work day to frequent social networking sites, using it as an online hub to conduct business and connect with other users for work purposes. For example, Twitter is becoming not only a hang out place to connect with friends but from a professional standpoint I am seeing that PR practitioners and journalists are using it as a portal to tap into useful networks, scoop out stories, identify spokespeople and generate outcomes.
Interestingly enough, as we see this trend escalate, eMarketer predicts that advertisers in the US will spend $40 million this year to reach the business audience on different social networking sites. And according to its forecasts, this spend is expected to reach $210 million in 2012.
The very nature of a social network is that it connects like-minded people and those with common hobbies and interests. It is therefore no surprise that we are seeing this behaviour among the business audience. And what’s more, the very nature of social network sites is providing advertisers and marketers with great opportunities to reach out to the exact audience they are wishing to tap into, as social networking sites become even more purpose-built and niche.
Another example is LinkedIn. LinkedIn describes itself as “A networking tool to find connections to recommend job candidates, industry experts and business partners…” This site is a recruiters dream! With its member subscription having doubled in the last year, this is the ideal environment to scope out and head hunt potential talent.
I recently viewed by profile on LinkedIn and I was able to track not only how many people viewed my profile in the last 27 days but it also told me who these people were. One was ‘someone in the Human Resources industry’ and the other was an ‘Account Director at Howorth Communications’. Nothing is sacred anymore.
These are just a few proof points that indicate the power of social networking sites in business and how sites such as LinkedIn and Twitter (and others) are increasingly becoming poweful tools that facilitate important business connections.
Do you think this trend will continue to escalate? Or are social networking sites merely fad? Would love your thoughts.