I attended a webinar the other day on the importance in today's economy of social media. The presentation was made by Lon Safko, who has written a book on social media. Lon had some good insights and meaningful tips on using social media.
One of the points Lon made was that your business brand and reputation travels with the speed of light. Your customers are talking about you and helping (or hurting) your brand over an assortment of social mediums. Social mediums can help you keep the eye on your competition and strategic partners too.
And to use social networking to its full potential you need a strategy and goals. Convert your online activities to actual customers and sales. To learn more of Lon's tips visit his website.