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The Art of Business Relationships through Social Media

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In the traditional business world, strong ties refer to firms or individuals who interact frequently, invest significant time and effort in a relationship, and transfer high-quality information and complex industry knowledge. Weak ties involve looser networks between individuals or firms, infrequent contact, a wide range of additional connections, and access to diverse information and resources. The modern business environment is characterized more by weak ties, due to the Internet and the widespread use of social media (1.5 billion users globally). Firms are organized in radical new ways such as virtual work groups, and transparency is more important than ever, with firms judged mercilessly on their response to customer feedback. <br><br> This article explores six key points in the art of building business relationships through social media: 1. Individual employees are likely to be seen as social media ambassadors, with their online activities reflecting on the company. 2. A firm should create specific social media management roles. 3. Connections should be forged with key influencers or critical enablers. 4. Significant cultural and structural changes may be needed to support relationship-building through social media. 5. Developing a trusted expert or key influencer position in a niche will generate a network of followers. 6. A qualitative and long-term approach is needed to evaluate the benefits of investments in relationship-building through social media.
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