Understanding the Role of Social Media in Marketing

Social media represents low-cost tools that are used to combine technology and social interaction with the use of words. These tools are typically internet or mobile based. A few that you have probably heard of include Twitter, Facebook, MySpace and YouTube.
Social media gives marketers a voice and a way to communicate with peers, customers and potential consumers. It personalizes the "brand" and helps you to spread your message in a relaxed and conversational way.
The downfall to social media, if you could call it that is that it must be a part of your everyday life in order to keep the momentum and attention you need for it to be successful.
If you think that social media is only for the small business owners that are trying out an experiment, I have to correct you. Here are just a few companies that have become involved in social media:

• Absolut Vodka - Online Video on YouTube and Using Facebook to house their Top Bartender fan page.
• BMW - Utilizing Facebook to promote their 1-Series Road Trip and they have created a Rampenfest Page for fans.
• Dunkin Donuts - That's right they've found value in social media and have set up a microblogging Twitter account.
• The role of social media in your marketing is to use it as a communication tool that makes you accessible to those interested in your product and makes you visible to those that don't know your product. Fact is social media is so diversified that it can be used in whatever way best suits the interest and the needs of your business.

For more information go to about.com where the answer of this was given by laura lake