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Global Markets in Social Networking

by ggallucci Expert(November 2007) (rank 11th)
 
 
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Social networking has seen a dramatic increase in users over the past year. To add to that, the number of social networking sites increase monthly as newer and improved versions of old sites emerge. The reality is that social networking is a global phenomenon that will be here to stay – it’s not just another fad. Social networks just keep growing and growing. As a result, internet marketers and online businesses are adapting to incorporate these sites into their marketing plans as many more people are headed to the internet in the near future.

On the internet, current business practices and marketing techniques have primarily remained localized within a geographic region. With the onset of social networking, the number of people reached will expand to encompass global audiences that previously, were not reached. We’ve always thought of the internet being global, but it wasn’t really organized that way. Social networks essentially have the power to break the walls between continents and may actually be paving a road for an international marketplace.

We’re still seeing a geographic separation within the social networks. MySpace, LinkedIn, Plaxo Pulse, and Facebook are popular in North America, Orkut in Latin America, Bebo in Europe and Friendster in Asia. What’s interesting is that while there is separation, all of the sites mentioned have users in the other geographic locations as well. As businesses bring their products and services into the social market place, you’ll see an international market emerge. Yahoo’s real estate groups are already on this bandwagon. International property listings and new developments are already posted in one place. Now, if only the realtors had an organized way to formalize internet sales, they might just see some profit come out of this.

Can this be a bridge to create a global marketing base? You bet it can! Companies like Sonific are already tapping into the global market through social networking. They expect that the number of social network users will triple in the next two years and are preparing to capitalize on that surge of customers of the music industry.

How can you prepare to take advantage of the mainstream international marketplace being created?

Start building a loyal audience now.

Be willing to be creative and reach out to a growing consumer base.

Be flexible to the changes that are occurring right in social networks.

 
 

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