Seven Social Networking Strategies for Smaller Businesses

5. Building a Custom Social Network for Customers

Goldmine: This is a classic build or buy decision. The good news is that available tools for discussion forums and social networks, such as Ning.com, are fairly strong. In Constant Contact's case, the ConnectUp site taps into an existing need of their small and midsize business customers. Says Forrester's Owyang: "Brands should develop their own social network if they are trying to support their customers, embrace them to build better products, or to glean insight from them. On the flip side, they should join existing Web sites to improve marketing, word of mouth or also to learn from communities in their native environment."

Landmine: Building a custom social network is a risky proposition. "Sadly, many marketers make the wrong choice," says Owyang, "resulting in an empty community or, worse yet, brand backlash." Gravitational Media's Rumford adds, "The question to ask yourself is -- is it worth the time, effort and money to create [a custom social network] yourself or can you leverage what already exists in Facebook for a much lower cost and quicker time to market? If there's unique functionality that Facebook doesn't offer then building my own might be the option."

Seven Social Networking Strategies for Smaller Businesses:

1. Prospecting on a Social Network
2. Sourcing Talent On A Social Network
3. Building Widgets For Social Networking Sites
4. Encouraging Employee Use, Not Abuse, Of Social Networking
5. Building A Custom Social Network For Customers
6. Building A Custom Social Network For Employees Or Suppliers
7. Building Brand Awareness On A Social Network

Next Page: Building a Custom Social Network for Employees or Suppliers

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