Social networking part II: gain a competitive edge.

• Author: Loerzel, Tamera

The following article is the second in a series of two articles on social networking. The first article in the April 2009 issue of The Practicing CPA explains how social networking technology has moved beyond social and entertainment purposes to providing business benefits. This second article in the series describes the uses and applications of particular technologies.

When some people hear the term social networking, they think of tweens and college students wasting time on the Internet by chatting and sharing photos. However, social networking has evolved into a professional networking strategy with many business applications, including recruiting, brand building, and business networking. Social networking sites and other "groundswell technologies" are rapidly gaining popularity. It is critical that firm management become informed and involved in using these tools to gain a competitive advantage.

In our article in the April 2009 issue of The Practicing CPA, we defined social technologies and the benefits they offer. In this article, we'll go deeper into some specific social technologies, including social networking Web sites, blogs, wikis, Twitter, and social bookmarking and how you can start using them today.

Social networking sites

Networking has usually meant getting dressed in business attire and heading out to a networking event with business cards in hand. Social networking has changed the landscape of business networking. Now with your laptop you can connect with people 24 hours a day, seven days a week while in your pajamas or from Starbucks! This convenience and accessibility makes social networking a very attractive strategy for those interested in making and maximizing business connections while minimizing time invested for recruiting and establishing a firm image that is attractive to younger generations.

Although MySpace is probably the site that immediately comes to mind when the topic of social networking is raised, it isn't where "real" professional social networking is occurring. Instead, we suggest you focus on LinkedIn and Facebook, which are designed more for professional use.

Both LinkedIn and Facebook allow you to create a personal or company profile and then start connecting with others who already use the platform. You also can invite people not currently using the platform to join the community and become part of your network. The first step is to create your profile by entering your basic information into the...