Social Networking Taking Hold With Consumers And Business Owners

July 8, 2008

Consumer participation in online social networking platforms, such as MySpace and Facebook, has increased significantly in recent years, with social "memberships" fast-becoming an integral part of many individuals’ social lives, according to The Conference Board’s Consumer Internet Barometer.

The Consumer Internet Barometer, which surveys 10,000 households across the country tracking Internet trends and usage, shows that roughly one out of every four people online are accessing at least one social networking site, some as many as four to five times a day. What’s more, members also are increasingly incorporating their social networking memberships into their business operations as a way to network with clients and market their products and services.

"Online social networking is an integral part of many people’s lives and a natural extension of our means of communication which the Internet has created," said Lynn Franco, director of The Conference Board Consumer Research Center. "The next growth wave will be expanding and incorporating these networks into our business lives."

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