Using social networks could pay

Q: What exactly is Social Media and can it help bring in business?

A: Like any emerging idea, the definition of social media is still a little blurry around the edges. Social media is an umbrella term that includes interactive broadcasts such as blogs and podcasts, as well as social networking Web sites. These Web sites often allow visitors to become users or members, create profiles, and upload and share content through the Web site.

There are hundreds of social media Web sites out there. One of the most popular is MySpace which was originally a place for bands to promote themselves. Anyone can create a profile and there are no identity checks. Companies targeting consumers often set up shop there.

Another is LinkedIn. This networking Web site allows you to create a profile and connect with colleagues, give and get recommendations, and find people outside your immediate network for new opportunities. One of the fastest growing social media sites is Facebook.

Why should you care about social networking sites? If you had a retail outlet you wouldn't set up shop where there's no foot traffic, would you? Well, many of your customers and clients may already be at social media Web sites. You need to go to where your customers are.

To get started with social networking, you may want to do some investigative work to find out where your best customers are. Since these sites offer free memberships, it only costs you in time to join multiple sites. Once you've joined, listen to the conversations around you. Each site may have its own mores, but generally people don't want you storming into a conversation to tell them how great your products or services are.

Once you feel comfortable with your surroundings, feel free to join in. Just don't make it a sales pitch. Find a group that you can participate in. If you sell dog products, find and join dog lovers' groups. If you're feeling really daring, start your own group, and invite current clients and colleagues to join in. A real estate agent might start a group focused on the local area (restaurants, schools, taxes, etc.), getting local business owners and residents to join together.

Using social media as a marketing or networking tool is in its infancy. Like a lot of marketing endeavors, the results may be difficult to track. But if you're on the sidelines, your competitors may be making connections and building relationships with your prospects. Are you willing to take that chance?