Social networking has become a very important aspect of Internet marketing today. We are living in the world of Web 2.0. This is the age when people are using the Internet not just for information but also for interaction. They are trying to connect with other people to understand concepts, to get information, to read reviews on products and such.

Social networking simply means communicating and interacting with people over the Internet. Many websites allow people to socially network with each other. The following are some names:-
Facebook (http://www.facebook.com/)
MySpace (http://www.myspace.com/)
Hi5 (http://www.hi5.com/)
Twitter (http://www.twitter.com/)

There are many aspects to this:

Viral Marketing

This happens when someone likes a product and recommends it to others. Remember when a friend ate at a restaurant, liked it and recommended it to you? This is viral marketing. This is the best form of marketing if you have a product, because you are making sure that people are speaking about your product and recommending it to their friends and family. This increases their chances of buying the product. Viral marketing is done on social networking sites, especially in groups built around special topics. The top websites for viral marketing today are Facebook, Twitter and MySpace, but there is actually no limit to the number of such websites today.

Building Networks

Social networking websites are where you can build networks. These could be networks of your customers, your clients or simply of people who are interested in what you are talking about. These are places where you consolidate your position as a market expert. These are places where you inform interested people about what you have to sell and how people can go about getting it. Simply put, it is a place to build your reputation.

Keeping Current

Social networking is the trend of the new decade. Every marketer worth their salt is using its potential. As such, if you don’t even know which the best social networking websites are and what they specialize in, you come across as a poorly informed person. You need all these social networking tools to keep you current and evolved.

Basically, social networking is a way to reach out to the people who are waiting to be reached out to. On these sites, you can find out about the likes and dislikes of people and you can directly market to people who are interested in the business. For example, if you have an eBook about a moneymaking opportunity, you can easily find out on most social networking websites who are interested in knowing about how to make money and then you can invite these people into your group.