The use of social media for business purposes is an increasing trend in today's global corporate economy. Social media offers a low-cost approach to reaching target markets throughout the world.

However, if used incorrectly many businesses may be investing time in social networking mediums to no avail. Social media users expect different relationships with the company online; such as communications, problem-solving, brand interaction and customer feedback.

Recent studies have shown that different networking mediums are influential to different aspects of business operations.

Facebook is best for increasing levels of brand and product awareness. However, it is essential that companies invest time in the 'fans' it has instead of investing time trying to increasing number of fans. By investing time in maintaining fans companies can leverage their most loyal followers who are shown to take it upon themselves to further promote your message to their friends.

Twitter is the best social networking site to increase sales figures. The quick nature of sharing messages through Twitter is very effective in encouraging people to purchase products.

Here's a slideshow on using the social world as a business tactic:

Partnering in a Social World

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For information on the risks of failing to adopt social media technologies, click here.