(* Source: Fvrit.com *) 

Businesses are beginning to wake-up to the fact that social networking sites such as facebook are no longer employee time wasters, but rather a new medium for extending their brand and communicating directly with consumers.

The social web has transformed marketing so that it is no longer a one-way transmission. Social media provides two-way communication between companies and consumers. It only takes a moment to realize why traditional media such as newspapers are losing readers and their appeal.

Most notably on facebook, this transformation has begun to take place. The reason being I believe is that facebook has become one of the most popular social networking destinations for web-savvy users and professionals alike. In addition, many corporations use facebook (and other networking sites) for employee recruitment. Since both are businesses and consumers are already there, why not take advantage of it.

Consumers are not stupid. With the popularity of the Internet, consumers are becoming even more knowledgeable. The interactivity of social media draws consumers and allows them to have discussions with each other. Businesses are getting to realize that they need to be where the consumers are.

I have been saying for quite a while that business should embrace social media as a means to communicate with consumers, and as a sounding board for understanding what customers want. Social media is currently one of the most underutilized methods of receiving customer feedback. Who needs a focus group or group study when there are millions of consumers willing to carry on a conversation with your business?

In order to embrace social networking companies must give up some control they previously wielded with an iron first via traditional media. Social networking and media is about giving the user a voice, opening dialogue and communicating with them. Media sites such as facebook, LinkedIn, Bebo and the like are perfect places to do so. Businesses are warming up to the idea that a conversation between them and consumers is ultimately a good thing.

Social networking for businesses can be a double-edged sword though. If a company produces crappy products, then they are going to hear about it from users of same social networks. Companies that produce excellent products can expect a far-reaching positive response that will extend their brand across the Internet.

I am still curious about one thing: How many corporations (of any size) still believe the traditional mantra that press releases, case studies, television ads and snazzy imagery reach farther than communicating directly with those that are buying their products through social media.

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