Social media is a useful tool for finding out about your company.

Firms using a courier delivery service will find social media has a lot more to offer besides advertising and marketing.

Networking sites allow companies to carry out a more accurate form of market research, according to Promise Communities, a maker of private online communities.

Its managing director Doron Meyassed described how the traditional model of research is "broken", explaining that people who are paid to offer their opinions do not particularly care about a company or product.

"The social media approach lets people become passionate about and care about your issue," he said.

Mr Meyassed also pointed out that companies are more international and want things done quicker.

"The social media approach is global as you can get lots of people to collaborate – it doesn't matter what location they are in, it's cost effective and it's fast," he added.

Investment and Business News recently analysed 684 independent financial adviser websites, finding just ten participating in social media.

Posted by Rob Elliott

Article Added: 14/10/2010 14:37:00