A SOCIAL networking venture allowing large companies to gain feedback from customers is to hit sales of £1m in its first year.

Better Communities has been launched by North Yorkshire- based brand agency Better and Tyneside-based market research business Explain.

Better Communities is a private digital community backed up by research software.

After being recruited, members are given the opportunity to engage in a twoway exchange of information with the company and fellow members as well as suggesting topics for future debate.

A target market for the product is large retail groups that may be looking to diversify and need to gauge opinions about the products and services they are developing.

It is also expected to be adopted by utilities firms which need to research the likely impact of decisions such as future price increases.

The venture, which was launched earlier this month, is expected to generate more than £1m in sales this year through the development of 20 private communities, with five clients already committed.

David Shiel, managing director of Explain, said: “Social media is now very well established, and such a powerful method of interaction that companies must embrace the opportunity for dialogue that is corporate, not just social.

“Having the confidence to let the consumer openly comment and choose who they want to buy from or use, puts the power squarely in their hands and says that the provider wants their business and will take notice of what they say.”

It is likely to create about six jobs this year at Explain’s Newcastle headquarters and Better’s Stokesley office, where the product’s technical development and support will be managed.