The importance of social networking to business is well known today.

As Howard Reingold and Associates observes:

Online Social Networking is a key part of marketing and management strategy for most organizations.

But the practice may be even more important to bootstrappers as a way to deliver powerful resources and create an inexpensive form of marketing.

Here's how I recently used our own bootstrapped venture PostRanger.com, a social blogging network in its own right, to demonstrate effective techniques for marketing this blog under two separate topics.

Here are some other observations from Reingold and associate Lisa Kimball about the values social networking can provide.

For the bootstrapper, on line social networks can:

• Provide your endeavor with increased standing in the on line community as effectively or more so than a much more expensive marketing campaign.

• Drive traffic to your website either directly or indirectly at a fraction of the cost of advertising (and sometimes at no cost at all.)

• Expose your business to prospective partners who might never have otherwise become aware of your efforts.

• Create respect for your expertise and services that might develop into further business opportunities.

• Provided much needed feedback about your efforts that could translate into innovation, growth and the opening of new markets.