Michael Newman’s latest ‘e-Wealth Daily’ article is titled “The Downside of Social Media”. [‘e-Wealth Daily’ Article]


Michael Newman’s latest ‘e-Wealth Daily’ article:

The Downside of Social Media

I’ve often written about the growing importance of social media when it comes to promoting your business online. Web sites like “Twitter” and “Facebook” present a great opportunity to expose your brand and keep customers up to date with all your latest offers, while allowing them to form a tangible relationship with your brand through interaction.

However, I’ve recently learned that these social media tools can hurt your image, too, if the proper privacy settings aren’t put into place. The worst part is that they can hurt you before you even get started.

Don’t worry, the remedy for this problem is pretty quick and easy to implement, so once you’re done reading, it may be wise to check your profile settings.

It turns out that banks and credit companies are now using Facebook as a way to research applicants and potential clients. In the past, such companies would rely mostly on your credit history and demographic information — age, income, where you live, etc.

Nowadays, however, they like to take a closer look. Chances are they will “Google” your name or look it up on Facebook. If your profile appears and it is open for the viewing, there are certain things these companies will look at and take into consideration.

They’ll look at your profile and try to find information that may hurt your chances of getting the credit you’re looking for. For instance, if your profile lists you as an avid shopper, or there is talk of spending all kinds of money, it may hurt your chances. It looks to them like you are looking for credit in order to support what could be a costly habit. I know it sounds ridiculous, but this is a new reality. They will also look into the people on your friends list. If these people are what may be considered “bad” or “irresponsible” — information they base on status updates, commentary or background checks — it can hurt your chances, as well.

Obviously, this will only be a factor if your credit rating is hovering at a rather low score, but, either way, it is something to consider. Cleaning up your online appearance may be something you want to look into.

Of course, an easy way to take care of this is to make sure the proper privacy settings are in place for your Facebook profile. Make sure your privacy settings are set so that only “friends” can view the content on your page. This will make it impossible for the credit companies to consult Facebook for their research.

Remember, the information you post on social media sites is public information and can be used and accessed by anyone. However, by implementing the proper privacy settings, you can control what is seen by others.

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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