Who's Harnessing Social Networks?
Companies are finding a host of ways to tap online communities for recruiting, sales, advertising and business development
By Rachael King
Social networks are changing how corporate America does business. For some companies, the millions of young people who flock to sites like MySpace and Facebook -- they now reach an estimated 45% of active Web users, according to Nielsen/NetRatings - are too tempting an audience to pass up. JP Morgan Chase is among companies targeting ads directly at the social networking set.
Other corporations use social networking sites and technology to recruit employees. Microsoft recruiters tap business networking sites such as LinkedIn and OpenBC to find candidates. Goldman Sachs and Deloitte are building their own alumni networks to entice former employees to jump back on board. Still other firms are installing social network analysis software to reveal relationships among employees with executives at other firms to help speed the sales process.
For a closer look at these and other ways CEOs are summoning social networks, read on.