Social networks do more than just cater to teenagers. They attract all age groups in industries including Medical, Publishing, Educational, Electronics, Automotive, Software, etc.

A good example of a targeted social networking site is edmunds.com's CarSpace. David Scott wrote about this in his recently published book, The New Rules of Marketing & PR, when he was looking for information about compact SUVs. "Edmunds' cool CarSpace, a free consumer-driven social networking and personal page site with features such as photo albums, user groups based on make and model of car, and favorite links, was excellent in helping me narrow down choices. For example, in the forums, I could read over 2,000 messages just on the Toyota FJ Cruiser. I could see pages where owners showed off their vehicles."

Companies can use social networks to build and extend their brand in a way that is inviting to their customers and prospects. Although much of the content on the site can be generated by the company, site visitors express themselves through user generated content. Customers and prospects are able to share ideas, photos, and videos with each other while finding others with similar interests - ideally centered on the company's products and services.

A business can choose to either create its own social networking site to spread its message, or use popular social networks such as MySpace. Using an existing social network is easy and free, and you can market to the existing members. On the other hand, the branding is not your own, you do not control the content in any way, and you don't control or have access to the user database.

The alternative to using an existing social networking service is to set up your own social networking site, based on "white label" social networking software or tools. White label social networking sites have the advantage of giving you total control over the branding, features, and content, and of owning the user database. In order for this to work, your customers must have a good reason to join and participate in the space on its own, not as just one component of a larger shared space. If you can create this interest and utility for your customers, then running your own social network makes a lot of sense.