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How Universal Networking Sites Work For Businesses

May 28, 2009 · Leave a Comment

Fishing for Customers in places where they hang out for fun and entertainment has become a theme for most of the businesses across the globe regardless of their size and geography. Many companies were able identify that this place is none other than Social Networking Sites (SNS). Irrespective of gender, nationality, age, etc. people reach out to their friends and like-minded people through SNS.

Globalization in its early years, in-fact, brought different cultures to converge at one point, but at the same time, disintegrated small communities due to greater opportunities away from their homes as well as their own communities. Unfortunately, though the opportunities gave them more material comforts, they were literally isolated from their loved ones in the name of better opportunities. The emergence of SNS gave these people a platform to share their feelings instantly. In no time, these sites became a major hang out for the young, and today even it is appealing to the older generation.

As it is common to any business to target those areas where people meet for fun and entertainment, the SNS too became a virtual battle ground for businesses to enhance their customer base. Especially, small and medium businesses extensively used this platform not only to increase the traffic to their sites but also as a cost-effective tool to market their products or services. The speed in which these SNS thrived gave birth to the fast emerging concept Business Networking Sites (BNS). And these sites have caught the imagination of most companies to utilize the services as part of their social media marketing.

Besides being a database of corporate contacts, BNS have served as essential tools for making a company known to the world with their workforce’s contacts. Nevertheless, most businesses have not so far directly included these media as part of their marketing strategy. Most companies have even denied access to SNS by their staff; the reason cited for this is, job allotted to them was largely neglected owing to increased straying into these areas. But some companies have tentatively allocated some stipulated time to access these sites for propagating their companies’ products or services.

There are plenty of websites mushrooming across World Wide Web besides BNS and SNS including Book-Marking Sites. Each one is vying with one another to integrate the popular features of each concept. And coming years will decide the future course of many popular such sites as to what entity they exist in the e-arena. In future, even terms to segregate these sites may become irrelevant. Industry observers as well as service providers believe, once winners among these sites are well defined, businesses would start extensively using this medium as the primary tool of their marketing strategy.

Instead of spending a large sum of money for advertising through other media, companies are bound to seek the services of Universal Networking Sites (UNS) with or without extra cost. Experts believe that these sites can deliver goods in minimum time with higher productivity. The UNS with comprehensive features of SNS, BNS, etc., will be the next big thing which would attract people from all walks of lives including students, home-makers, businessmen, etc.

Since online public is growing faster as expected, the sites with combined solutions such as socializing, book-marking, job-searching, etc. will soon become an advertising center for all businesses across the world. The UNS is likely to become a cost-effective tool for marketing one’s company’s products or/and services.

UNS also promise good revenue for the service providers through advertisements as compared to the independent services provided by them. Hence, online world could expect popular as well as new service providers to compete one another in adding mind-boggling features to their forthcoming UNS version of their respective service sites.

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Categories: B2B Business · B2B Portal · E-Commerce · Global B2B · World B2B
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India and ASEAN Iron out Differences – the FTA to be concluded in October

May 28, 2009 · Leave a Comment

According to the Indian government sources, the India-ASEAN FTA will be a reality in the forthcoming ASEAN Summit in October as all outstanding issues had been sorted out by both parties. Although India and ASEAN had concluded the talks for the landmark FTA in late last year after six years of discussions, it got delayed owing to several events including the standoff between Thai government and protestors during the scheduled summit last December.

A free trade deal with ASEAN member states has strategic importance to India since the country exports 12 percent to these states and imports 10 percent. The FTA is expected to increase the trade from the current $40bn to $50bn by next year.

Indian officials said that there were plans to even sign the India-South Korea Comprehensive Economic Partnership Agreement (CEPA) along with the ASEAN FTA. The South Korean representatives are expected to attend the upcoming summit to engage in talks with the ASEAN members as well as concluding the formalities on CEPA with India.

Both trade deals require Indian cabinet approval, and would be the first such approval by the United Progressive Alliance after returning to power consecutively for the second time. The FTA had earlier missed the April date due to parliamentary elections in India.

The talks between India and ASEAN were stalled several times as the association insisted on cuts in tariff twice a year. But in the recent talks, India was able to convince the ASEAN members on duty cuts once in twelve months, and the same will be reviewed every January. As per the deal, duty to be cut for the highly sensitive products including tea, coffee, pepper, crude and refined palm oil is between 30 and 45 percent by Dec 31, 2019.

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Categories: Bilateral Trade · Business · Economy · Recent Summit · Trade Deals · Trade News · World Business
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