Executive Summary Social Networking

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Executive Summary

To: Anne Teehan

From: Leigh Clayton

Date: November 4, 2008

Subject: The Benefits of Social Networking

Introduction
We are at a time when customer satisfaction is at an all time low, yet it is becoming a more and more difficult to talk to a human for customer service. Many businesses have lost the personal and trust-filled relationship that is so desired by their clients. In order to maintain and grow a loyal customer base, a company can now achieve those real human connections by means of social networking. Individuals from all areas of the company are readily available to meet the diverse needs of its customers, future employees and each other. Social Networking is at the top of today’s technology and is being utilized by many companies. Our business purpose is to share business ideas and opportunities. This has become an effective tool to meet prospective leads, clients, efficient employees and business partners. [i] Social networking is an easy and cost effective way to make profitable business connections with people that you never knew existed.

Recommendation
▪ An advantage of Social Networking is to create new ways to communicate and share information about our company. Communication is a key to success in any business, and social networking is the best way to facilitate these successful interactions.

▪ Social Networking ensures that our company is making new and successful connections. We are able to promote our company’s services on a more personal level.[ii] Both our customers and own employees can build a more trusting relationship through the ease of communication of a social network.

Analysis
Social Networking has always been an effective source of communication. It has become necessary to change they way we pursue our clients and employees. We want to manage more efficiently, hire the most qualified employees and locate potential clients. Our business has to be aware of not only what we communicate, but how we communicate. Society has changed they way we interact with one another. It use to be highly encouraged, by employers, to meet a potential client or future employee while playing golf, having lunch or maybe even dinner. You would provide your sales pitch, hand them a business card and follow back within the next few days to see if they were interested in your business or if you were interested in theirs. This was an approach to maintain a personal relationship and show your future client or future employee how available and interested you are.

Social Networking has grown and we need to be aware of the way we connect and communicate. Communication is no longer just reaching a client or future employee. It is reaching millions of business connections that you never knew existed, through technology. Technology has allowed us to create social sites that can be used for networking your business, via the internet. I use to think social sites such as Myspace.com, Facebook.com, and LinkedIn.com were sites for younger people to socialize with their friends. After researching these sites, I found that these sites support much more than socializing amongst friends. It has become one of the most effective ways for businesses to communicate and build relationships with other business people and potential employees. Social networking has provided businesses with the following: business development or sales, raising business capital, professional development, getting job assistance with others in your company, recruiting board members, management of employees and social or personal reasons.[iii] Social Networking can add value to a company externally as well as internally. It can be a very powerful tool and when utilized properly we can learn from others as well as ourselves.

There are many companies that have taken the idea of these social sites and utilized them internally. They are using social networking as marketing tool...
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