By Vandana Ahuja

Business and Social Networking are tools which are catching on like viral fever across marketing communities.

Networking on Business and Social Networks-groups of individuals and organisations has emerged as a key technique in modern marketing. This is a fact we all are aware of; only the size and volume of the entire userbase hit me hard as i read a post on ‘Virtual Reality Marketing’ posted by Eric Kintz, VP, Global Marketing, Hewlett-Packard. He has talked about Korea’s Cyworld where 17 out of the 48 million South Koreans are hooked in to this online community. At this rate, being a part of one such network is akin to a qualification/important part one’s personality.

These online networks help individuals and organisations achieve goals through relationshipping and friendshipping. One can develop relationships, build new contacts and establish friendships.The idea is to develop relationships first and then use them for business.

The focus is hence, on the VCP model(Visibility,Credibility, Profitability) of Marketing-

1. Visibility-The success of all networking is based on the ability of people to remember who you are, what products/services you are associated with and what services you provide.

2. Managing Relationships-Evolving simple aquaintances into credible relationships.

3. Collaborating-Joining together for achieving business goals,by making best use of opportunities.

This relationship capital has huge potential if we are able to mimic the dynamics of the real world through online sites and replicate them appropriately to achieve our end objectives. Patience, interactivity and sensitivity are three areas which one needs to work on.

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Technorati Tags: social networking, modern marketing, global marketing, cyworld, relationships, business goals, south koreans, visibility, http, online networks, social networks, relationship capital, ahuja, vandana, vcp, replicate

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