Social networks –
Virtual communities that allow people to build personal web pages and then connect with others to share content and communication. Some of these venues appeal to broad groups, (i.e. Facebook, MySpace), whereas others are built around particular niches and demographics (i.e. LinkedIn).

Forums –
Areas for online discussion, in which multiple users can create topics of interest and then comment on these topics. Forums came about before the term “social media” and are a powerful and popular element of online communities.

Blogs
Perhaps the best known form of social media, blogs (short for web logs) are websites that typically feature posts, by an individual or group, which readers can comment upon. Blogs may vary in nature but tend to be popular, as they often provide an unvarnished, insider perspective on a particular topic.

Microblogging
social networking combined with bite-sized blogging, where small amounts of content (‘updates’) are distributed online and through the mobile phone network. Twitter is the clear leader in this field.

Content communities
Sites that allow users to post and share particular kinds of content. Such communities exist around anything from videos and photos to stories and links. Some of these sites include voting functions that allow the community to determine the relevance of content. The most popular content communities tend to form around photos ( Flickr), bookmarked links
( del.icio.us) and videos ( YouTube).

Wikis
Wikis are community-generated documents and databases. Approved users can create content and augment the content of others in the interest of creating better resources. The best-known wiki is Wikipedia.com, the online encyclopedia which has over 2 million articles in the English edition alone.

Podcasts
Audio and video files that are available by subscription, through services like Apple iTunes.

Virtual Worlds
This represents one of the most novel areas on the web, in which users can engage in immersive worlds. Some of these spaces closely mimic real-world notions such as community and economics.

One of the most important rules in marketing your business is that you go where your target market is. With the growing popularity of online social networking websites, it’s a little wonder that more and more businesses are looking for ways to take advantage of the millions of members of these sites. With the use of several widely available tools and networking tactics, you will find that marketing your products or services through this medium is not that hard to do.

Make Friends before Making Money
One of the most common misconceptions of businessmen in marketing their products and services through this medium is considering social networks as just place to post their advertisements on. Contrary to popular belief, posting advertisements that look too much like advertisements are not very effective in this medium. As these social networking sites serve as friend-finder platforms, it is often better to maximize its intended function in order to successfully market your products.

Because of this, you have to start from scratch and collect friends as you go along. This may sound a bit hard to do at first but keep in mind that having a great number of friends in your network is the best way for your offers to be noticed. This doesn’t mean, however, that you are going to flood the bulletin boards with your products ads right after collecting your friends. Instead, it is advisable to develop real relationships and friendships with those who have become your friends by helping them with their concerns, posting your blogs, sending your testimonials, etc. This way, you can be sure that when you offer your product and services to them, they will be interested and you will have more chances of getting sales.

Thankfully, these social networking platforms offer a way to make your task easier by giving you search options in which to limit your potential friends to those who might be interested in your particular product or service. If you have a pet shop for example, you might want to limit your members search to those people who love pets. Similarly, if you are a car salesman, you might like to look for those people who are of working age rather than those still in college. In social networking sites, you can search by limiting your search criteria to members’ hobbies, interests, location, organizations and more. This will help you limit and focus your marketing efforts towards people who are in your target market.

Share Information
Blogging is a great way to reach out to people who might be interested in your service. Remember though that members of social networking websites are not actively looking for products and services so your advertisements would probably be not as effective as you might think.

Instead, try to post blogs that are informative and interesting. These blogs may not convince them outright to buy your products, but you will definitely stand out as someone who knows about this particular product. Thus, you will be one of the persons he or she will approach when considering a purchase in this product category.

Internet Surfers’ Choice
This factor may be more important than you think as more and more search engines are integrating the voice of the internet users in how it ranks the websites. Today, you can see this through social bookmarking wherein internet users can bookmark their favorite sites through an online bookmark website, social search engines and social driven content wherein the users’ preferences and outlooks are given importance in ranking the websites. Users of social networking sites are given the right to vote on how relevant websites or articles are in their search. All these sites are easily accessible and membership is usually free.

With these new set of tools, you can effectively market your products and services to the millions of social networking users.