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Using social media to generate new customers and incremental business.

Because of the open nature of the social media web sites, you can easily find your customers and see what they do online, learn about their interests and discover characteristics about the people that they connect with. Friends of your customers have always been a great target market. In fact, research suggests that people are five times more likely to buy a product if their friends recommend it. While you may not be able to get full details of an existing customer's contacts from websites like Facebook and MySpace, you can get a lot of valuable information. If you set up a Facebook profile and ask to become a friend with an existing customer, you will most likely be accepted, if they liked your product. Through this one connection, you have the opportunity to identify their friends and make additional contacts. In addition, transparency is very important when it comes to building trust. Never try to disguise who you work for or make comments about your company or a competitor under a false identity. Too many times companies have tried this and have been humiliated and received bad press.

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