The Web 2.0 platform, encompasses social networking sites and a host of web applications that supports user-generated content and communities. It enhances creativity, user-generated information sharing and collaboration.

Social media refers to the use of Web 2.0 technologies to reach out to communities, sharing user-generated content/information, a distinct difference from the traditional media. And social marketing – branch of social media – is the latest tactical tool for businesses to promote their products and services. This is done by marketing efforts through various sites like Facebook, YouTube, Flickr and blogging platforms.

The benefits of using social media are aplenty:

• reduce PR and marketing training expenses – Oracle halved their PR budget by the use of social news releases
• speeds up the rate at which information reaches your audience.
• understand your customers better, and gain more effective feedback.

The bottomline is, social media matters. Read more in this Business Times article!