One of my favorite uses for social networking is to dig up news and current buzz. The way I gather all my information has changed over the last few years. There is a crisis in journalism right now which is why sites like Hulu have been created. You will see a huge move from print media to the internet in the next few years.

With all the tens of millions of people getting involved, if you are not on at least some of the social networks then you will be invisible to the marketplace. Change is inevitable but growth is optional. The world is not going to stop and wait for you. You need to be vocal about you opinions and your expertise in the marketplace.

I happen to be a Realtor. If I am not the voice of local real estate in my market and someone else is then how am I even going to have a chance to compete in the market? Lets look at the statistics for real estate 87% buyers buy with the first agent they meet;93% sellers sell with the first Realtor that they meet. 85% of real estate consumers find their agent via a referral. So a overwhelming major will do social networking to find their agent! If I am not going participate in that part of the business I will never even have the chance of doing any of that business. I am speaking specifically about real estate here but I am image that this is the case for many small businesses.

The other use that is becoming very useful, Is PR for events. Tinker is a new start up for helping you use social networking for PR. What about announcing new product, service, book or other public relations that you are going. All of these things can be used very effectively. Connect with the big hitters in your industry leaders. People are very interested in businesses that seems to be going for it. There is nothing more attractive than someone who is going for it. If you share your goal with the world, then the world can give back to you. However you must be clear about what you want.

Lets just say you happen to own a liquor store you could announce a micro brow tour of your local area. There is not end to the amount of niching that you can do in your business. In a traditional print or television world it would be to expensive. But online the cost is just your time and social networking can help you discover, maintain and monetize these niches.