“A new executive team at MySpace is trying to reignite the brand by focusing on areas like music, videos and games as users abandon the social-networking site for cooler destinations.

MySpace, which is holding a conference this week for its global ad-sales staff, needs to lure visitors back and kick-start advertising revenue, ad executives say. Research firm eMarketer estimates U.S. ad spending on the site will be $495 million this year, down 15% from $585 million in 2008.”

Read this article from Wall Street Journal.

This article is from Zdnet.com

“Facebook has stepped up its efforts to persuade musicians and filmmakers that the so-called social utility can also be used as a tool to connect with fans. This, of course, is MySpace territory.” Read article.

1. be safe – guard your financial and sensitive information
2. think of social networking sites as online billboards
3. think before downloading email attachments
4. beware of con artists
5. be an active participant
6. create a consistent presence on different Social Media Sites
7. add value to your community
8. build your brand (name/business) slowly
9. make friends with people who have the same interests
10. share your content with other Social Networks
11. use widgets and gadgets to create more networking
12. add an RSS feed to Facebook
13. sign up to MyBlogLog
14. submit your site to StumbleUpon
15. sumbit your site Digg
16. link back to your content
17. a picture is worth a thousand words
18. make yourself accessible
19. don’t get carried away with the technology
20. use good e-etiquette
21. find out how a site works before joining it
22. keep control over the information you post
23. post only information that you are okay with others seeing
24. you will only get out what you put in
25. allow your friends to comment without approval
26. your mindset should be about relationship building
27. be professional
28. make it easy for people to learn more about you
29. you have to be a friend to have a friend
30. balance the personal and the professional

Social networking is defined as individuals getting together into specific groups – like a small community or a neighborhood. The Internet is filled with millions of individuals who are looking to meet other Internet users and develop friendships.

Social Networking focuses on the building of online social networks for communities of people who share interests and activities, or who are interested in exploring the interests and activities of others.

Most social network services are primarily web based and provide a collection of various ways for users to interact: such as chat, messaging, email, video, voice chat, file sharing, blogging and discussion groups.

You can also use social networking for business. However, this does not mean that you should completely forget about the other online social networking websites, the ones that are designed to make online friendships.

If you are planning on joining a traditional social networking website to gain access to millions of potential new customers, you need to be careful when making your online webpage or profile. One thing that Internet users hate is being solicited for business

When examining the website of the online community that you belong to, it is advised that you examine the terms of use agreement. Many websites, including social networking websites, will terminate your membership if you are found violating these agreements.