How useful is social media in business?

I am currently listening to a presenter at a free online learning session through www.flexiblelearning.net.au/e-events

The presenter is talking about how they have used social media in a business context. One of the topics is how business can easily get feedback from consumers using web technologies. Consider Kraft and their quest to name its new vegemite variant. http://www.theage.com.au/business/media-and-marketing/unhappy-little-vegemites-vent-their-fury-over-isnack-20-20090928-g997.html. On one day alone they received more than 48000 comments about the new name.

Another question raised in this session was 'Can you build relationships online'?

My response is YES, but it will take the same amount of commitment and effort as it would if you were building a relationship in a traditional sense however your approach will be different. You don't just put yourself out there and expect people to find you.

Use this post to comment on how you have built relationships with your customer base.

Facebook was one of the tools mentioned in this session. Watch this youtube video http://www.youtube.com/watch?v=nrlSkU0TFLs it will set the scene for how you might go about establishing a relationship in person using the same techniques as facebook. Certainly makes you think.