The Cycle

Social networking for the wallet

We pointed out this week in our editorial that digital strategy and tools will continue to be important during this economic downturn. Expertise in the field can help brands better reach audiences and agencies attract clients. However, some social networks - Mint and Wesabe, to name two -  are made specifically to help the consumer watch their wallet, as the Chicago Tribune reports.

The sites, which are free to join, are more than Facebook meets your checkbook. They offer forums where users discuss spending habits and solicit feedback from peers. In addition, the sites employ interactive tools that help teach users how to budget and search for the best deals based on the spending habits of all users. Useful spending patterns can be determined because the social finance sites are linked to users’ banks, brokerages and other accounts. Individual account data remains anonymous and secure.

Just one more place to find that “just right” audience.

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