Social networking has boomed in popularity in the past few years as mega sites like Facebook and MySpace have taken the online world by storm. Even though both sites started out as places where teens could meet up online, they are really for people of all ages and interests. Now, businesses are discovering how such networking sites can help them keep in touch with existing and potential clients or customers, possible employers, and even suppliers.

After starting out as mere tools for social interaction, giant social networking sites have become legitimate advertising platforms. Facebook advertises many services and products through the many applications it offers to its users. Facebook users can interact with other Facebook users either publicly or privately, and users can even post videos. These sites can keep you connected to as many people as possible, no matter where you or they are located in the world. This helps your business reach far more people than traditional advertising.

Sites like Facebook and MySpace can offer an alternative to some types of large budget marketing. While you won’t spend thousands of dollars promoting your product, letting networks of people know about it for just your investment of time can build long term, loyal customers. All you have to do is sign up, “friend” people you already know who are on these sites, and then spend at least 15 minutes per day interacting and using your new platform for promoting your expertise, products, or services.

Besides giant social networking sites, there are forums and discussion boards on the web for any topic you can imagine. You can talk about your products or services on forums as long as you follow the forum’s rules. Some of them don’t allow you to post links to your site, and some do.The quickest social networking site to get up and running for you is probably Twitter. On Twitter you post short, 140 character or less updates whenever you want. You should update at least once a day to develop an interested following.

Social networking sites allow you to create personal relationships with people you may never have met otherwise. Keeping in contact with them and genuinely socializing with them online will make you a valued part of the online community. When the opportunity arises for you to offer your expertise on a product, service, or subject, you’re already seen as a trustworthy source of information.

Networking as it pertains to making money could be defined as the interaction between a group of people who share a common interest. Today it is most commonly thought of in terms of networking websites such as Facebook, Twitter, and My Space.

Create a profile in a social networking website and include your website address. Take the time to describe exactly what you do on the Internet and what products and programs you are involved with. What you are doing is making it easy for people to find out more about you in a passive way. As you interact with people on a daily basis in the social networking site a certain percentage of those will click on your website URL. This gives you additional traffic that can convert into customers.

Are you in a network marketing business? It is much easier to recruit someone into your business if they know who you are. This is where social networking can be so effective because you are never actually prospecting anyone. You are simply getting to know people and through this interaction some will join your business.

Discussion forums are another form of networking that you can use to your advantage. These give you the opportunity to build credibility by posting useful comments in various threads. It also helps you brand yourself as an expert which can lead to future sales.

Twitter is an extremely popular social networking site right now. By building up a large number of followers you can quickly sell products at a moments notice whenever you post a useful Tweet. These micro blog posts of no more than 140 characters, give you instant contact with your subscribers and the more people you have following you the more potential sales you can make.

Many joint ventures are coming out of networking conversations. Whether you are doing social networking online or meeting with people off line, the Internet makes it possible to work together in ways that were never possible before. Joint ventures give you opportunities to make money by pooling your talents with other people. Millions of dollars are transacted online through joint ventures every year and you can get yourself involved in these types of opportunities through social networking.