Social Networking: Useful For Business?

Social Networking should not replace a business's online presence; instead, it should be viewed as complementary. Karen E. Klein details in this post on Business Week how many businesses are trying to tap into the rapidly growing trend of social networking as a business opportunity, rather than a way to connect with people.
Karen quickly mentions that Greg Sterling of Sterling Market Intelligence believes social media should be used as a means of seeking advice, meeting people, and doing online marketing and marketing research. Here's what Greg notes about different social media sites:
"Sites such as LinkedIn can be helpful in connecting with people you want to meet for one reason or another. Twitter and Facebook can be helpful when you're trying to notify a group of people about something you want to promote or about a happening of some kind."
Each social networking site has their own benefits, so how do you know which one is best for your business practices? Karen suggests doing some online research, about an hour or two a week, to find out what your networking niche is. Whether you are trying to reach a larger consumer base through Facebook or a more professional audience through LinkedIn, careful research will ensure that you use the most effective networking site for your particular business.