Social Networking is all about finding people who share the same interests or similar information by connecting with other like minded people via the Internet. The bottomline of Social Networking is about building lasting relationships.
Micro-blogging tools like Twitter and Facebook fall under the general category of Social Networking as do popular social bookmarking websites like Technorati, Del.icio.us, Digg and Stumbleupon. On these applications users can add their own content to web pages and blogs.
Social Networking is related to social bookmarking: you can make as many bookmarks on the Internet as you can possibly stand to do, but once you start sharing these bookmarks with other people, interacting with them, starting conversations through a variety of methodologies, you begin to actively network with others. Once you start, you have joined the social networking community.
Social Networking can also be used to accomplish business goals, such as increasing your visibility and raising brand awareness.
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