Do you use Social Media sites in your business

Twitter, Facebook, LinkedIn and blogs are the "new" marketing stategy for a lot of businesses these days. Do you use these in marketing your business?

A recent study found that respondents report that the #1 benefit of social media marketing is gaining attention for the business, or “the all-important eyeball.” The majority of marketers say they have undertaken social media activities for this reason and they appear to be paying off: Some 81% of all marketers indicate that their social media efforts have generated exposure for their businesses. Improving traffic and growing marketing lists is the second major benefit, according to the study, followed by building new partnerships. At least two in three participants found that increased traffic occurred with as little as 6 hours a week invested in social media marketing, while those who have been doing this for years reported better results. Owners of small businesses (2 - 100 employees) are more likely than others to report benefits.

The study also found more than half of participants reported that a major benefit of social media marketing is the resultant rise in search engine rankings that often comes with increased efforts. Improved search engine rankings were most prevalent among those who’ve been using social media for years, with nearly 80% reporting a rise.

Though about one in two found social media generated qualified leads, only about one in three said social media marketing helped close business, though this percentage was higher (61.6%) among those who had been using social media for longer periods of time.

In terms of reducing overall marketing expenses, a significant percentage of participants strongly agree that marketing costs dropped when social media marketing was implemented. Sole proprietors were more likely than others to see reductions in marketing costs when using social media marketing.

So are you going to jump on the "bandwagon"? Give us your thoughts