Business wise it plays an important role, in branding your profile image online. With the many websites that are available online, it allows for people too network and build contacts, and possibly even make sales of a particular product/item that you wish too promote. It is a great way for people too see the real person, from both a business and a personal angle. As mentioned above Social Media allows for various ways to integrate technology. With the various Smart-Phones and Smart-Packages that are available today, it is easy for anyone too access their business partners/contacts/friends via email and social networking sites, all at the push of a button on their phone.
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