A recent study of 1,460 office workers conducted by Morse estimated that UK business could be wasting around £1.38 billion a year as staff are spending time of social networking sites instead of working.

Philip Wicks, consultant at Morse, the IT services and technology company who commissioned the survey reported that the costs to the UK economy may be even higher than this figure. Talking to the Telegraph Wicks said:

‘When someone is asked for their own use they say around 40 minutes a week, but when asked about their colleagues they say they say up to an hour a day. We have used the lower of those figures rather than the high point.’

‘It is the sort of thing people constantly use which means that its not quite the same as doing a crossword, where you spend half an hour on it and it is finished.

‘When it comes to an office environment the use of these sites is clearly becoming a productivity black hole.

‘Social networking can be a cause for good when it is used professionally but I think organisations need to wake up – that is not the way it is always being used.’

Not all the online activity reported was for social purposes however but the survey did reveal that over 50% of usage was for personal use.

The results of the survey do show just how important social networking is to people’s business and social lives.

Unfortunately one in three of the respondents said that they had seen sensitive company information on social networking sites. This is one aspect that companies have to monitor carefully. Social networking allows for great freedom of speech but if a staff member is represented under a company name (even if its an unofficial group) then their views are seen as a reflection of the company’s values.

Earlier this year British Airways took action against employees on a Facebook site who talked about their customers ’stupid American Accents.’ Various other companies including Tesco, Waitrose, Dixons and PC world have had high profile cases of employees openly critisising customers.

Business needs to build in guidelines for social networking within their staff information packs because although positive and constructive social media can enhance a company’s reputation, negative viral publicity can be very damaging. Social networking plays such a big part of people’s online lives that it cannot be ignored. Even if your company does not use it as part of your online marketing make sure that your staff are aware that any comments that they make about the company can have far reaching effects not only for the company but for them.

When we think of social networking sites we usually think of two things: fun or business communications with our online contacts or marketing opportunities that could help our business. But we don’t often think of them as a tool with which to measure changes in the health of the nation.

At the Health Protection Agency annual conference at Warwick University last month one idea that was put forward was that Twitter and other social networking sites could be used to track the health of the nation, with particular reference to swine flu.

In recent months Swine flu has been measured by GP, NHS Direct and the helpline statistics but the real extent of the spread of the virus remains unknown as thousand of people with only mild symptoms remain unknown.

Experiments with Twitter have been tracking online reports of Swine flu.

Twitter is a type of social networking site although it really works more as a micro blogging site that allows you to update your list of contacts with messages that they can read either online or as a text message.

Talking to The Telegraph, Ed de Quincey, a computer scientist at City University London said:

‘As UK public health agencies and the NHS are preparing for the approaching flu season amid the H1N1 pandemic, new forms of social interaction via web sites such as Twitter and Facebook can expand the sources used in monitoring such outbreaks.

The flu pandemic was the perfect opportunity to test this idea and we found that at least 4,000 people reported flu symptoms via Twitter since May 2009.

‘We are currently analysing over a million ‘tweets’ that we have collected and exploring the potential of incorporating data from other social networking websites. We hope in the future to expand this approach to investigate other health issues such as drug and substance abuse.’

This information shows the vast amounts of useful information that can be gathered from social networking sites. Information that has both commercial and social uses.

Social networking sites are becoming more and more popular across the world.  Using this to your advantage can help your business to achieve its marketing targets.There are many advantages to this medium but there are also areas of caution which need to be addressed before you introduce your business to the world of online social networking.

ADVANTAGES

Easy to use
Social networking sites are designed to be easy to use, so they are. Using them as part of your marketing strategy does not need you or your staff to master complicated programmes or ideas.

Good Value
Social networking sites are free which is one of the main reasons they are so popular amongst marketers during the current economic climate. Your only costs are staffing ones.

Quickly Adaptive
Social networking sites allow you to respond to the moods and needs of your audience. Because they are instant they can help  you to develop a responsive relationship between you and your clients and potential clients.

Full of Viral Potential
The viral possibilities of the internet mean that something related on a social network site can be news across the world within minutes.

DISADVANTAGES

Full of Viral Potential
This can be negative too. If you make a mistake, or are perceived to have done, then the news can spread far and wide within minutes. This will be very difficult to remedy and will be wholly counterproductive to any positive global marketing goals you may have achieved.

Labour Intensive
Depending on how you set up a social networking campaign, it can be labour intensive particularly if your intention is to respond personally to messages from the public. Its important to plan what you want to achieve and how you want to do it.  Starting small and working out from there depending on your response means that you will never dissappoint.

The Law of Reciprocity
This law indicates that to develop a successful and satisfying relationship you need give and take. Social networking rests on this premise so it is important that you set up with your audience exactly what you are planning to ‘give.’ For example, if you send a Tweet on Twitter you may get an instant message back. The respondent may expect one back quickly and may feel disappointed if they do not get one. If your plan is to only send promotional updates then make this clear. Then you will be living up to expectations rather than creating disappointments.

Being Adaptive
With social networking you have to be adaptive. This is essential because its still a very new media and there are new sites and changes developing all the time. You need to keep abreast of the latest information and trends. Standing still and just repeating more of the same will waste your valuable time if your audience has moved on.