It is no secret that in the last few years the state of the economy has taken its toll on just about everyone. It seems more than ever people have been looking for ways to save money. Everyone is on the hunt for a good bargain. This is especially apparent in the new wave of social networking.

Take for example Groupon, a social networking site where members living in the same area come together for group purchasing in search of discounts. The way it works is once a day Groupon announces a local deal that members can choose to purchase. If enough members purchase the offer it becomes valid (if not the offer is void and people who have already purchased do not get charged.) People interested in certain offers will reach out to their personal networks and try to get more people to buy in on the deal. Another site Foursquare is also all about your location and great discounts. On Foursquare you “check in” at certain locations in your area such as bars, restaurants, stores, etc and you receive points. Once your points exceed a certain amount you than are granted honors such as becoming “the mayor” of a location. This title comes with perks as mayors often get discounts to their favorite places in the city. Naturally this sparks a sense of competition and pride in members who will continue to support their favorite local businesses in an attempt to hold on to their title (or in some cases attempt to dethrone the current top dog.). Both sites are examples of how all over the internet people are coming together for the sake of a good deal.

You can apply the same motto to your social networking as well. Do you want to increase your twitter following? Run a promotion where if you reach X amount of followers you will issue a discount code. People interested in receiving the deal will surely promote the offer to people in their network helping generate awareness of your organization. The only thing people like more than a discount is a freebie. Host a giveaway on any of your social platforms and just watch how your network increases. Cutting your target audience a deal every now and then is something they will appreciate. In turn they are more likely to stay loyal and even spread the word about you. Happy clients and increased awareness is a deal you should never pass up.