Social networking now a mainstream business tool, says survey

MUMBAI: Social networking has become a mainstream business tool in India with 52 per cent of businesses having successfully used social networks to win new business, a new global survey commissioned by global workspace solutions provider, Regus, said.

Businesses are now putting faith in the social networking medium and the fact is evident with the revelation that well over a quarter of businesses world-wide (27 per cent) have set aside a proportion of marketing budget-- hard cash -- specifically devoted to social networking activities, it said.

So far, little analysis is available regarding the use businesses are making of social networking and whether hard business can be generated through this channel.

To understand whether businesses globally believe that social networking is ready to take its place among an array of marketing tools, the survey asked business leaders whether they had made any customer wins using social networking, and if they believed the channel was effective enough to be awarded its own portion of marketing budget.

Globally, social networks are still used for their original range of functions. The most popular use of social networks is staying in touch with business contacts, with 58 per cent of respondents globally declaring they use networks in this way.

Joining special interest groups is also popular (54 per cent). Although a number of sceptics (34 pc) believe social networking will never become a significant method to connect with customers and prospects, 51 pc of firms organise, connect to or manage customer groups via social networks. 54 pc of firms use it to find out useful business information.