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There has been much debate over the past couple of years over the value of social media to business. Most agree that it's effective for some business types, but few would say that it has an effect on the majority of business, particularly local ones such as car dealers.
In reality, social media has a place in nearly every business in the world that relies on such things as online advertising, customer reviews, and
word-of-mouth word-of-click marketing. Even local businesses are able to draw tremendous benefits when they utilize social networks in the right manner.
This graphic by our friends at GetSatisfaction breaks down "The Network Effect." Some will see this and still dismiss social media as a something that doesn't apply to them. Before you make those sort of judgments, ask youself something. What drove you to this article in the first place?
Click to enlarge.