for entrepreneurs and small businesses looking to expand their contact bases. These networks often act as a customer relationship management tool for companies selling products and services. Companies can also use social networks for advertising in the form of banners and text ads. Since businesses operate globally, social networks can make it easier to keep in touch with contacts around the world. Applications for social networking sites have extended toward businesses and brands are creating their own, high functioning sites, a sector known as brand networking. It is the idea that a brand can build its consumer relationship by connecting their consumers to the brand image on a platform that provides them relative content, elements of participation, and a ranking or score system. Brand networking is a new way to capitalize on social trends as a marketing tool. The power of social networks it beginning to permeate into internal culture of businesses where they are finding uses for collaboration, file sharing and knowledge transfer.
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