Are social networking sites a good idea for a new, small business?

[Snobaby]

If so, please give me your opinions on which site(s) to use.

Thanks.

[Erica]

Definitely! I think social networking can be beneficial for many types of businesses. Depending on your industry, some networks may be better than others, but the best idea is to create good mix of a few different networks with genuine content and interaction. Just creating a Facebook Fan page will not guarantee an influx of avid fans, especially of your business is just getting started. You'll have to consistently update and stay connected with your networks and friends in order to keep them subscribing.

I generally prefer the big names... Twitter, Facebook, YouTube, etc... I think MySpace has lost it's luster and would only be worth while if you were an entertainer of some sort. Use Twitter to find new customers and clients, reach out to strangers, become part of the conversation - don't just sit back and listen. Facebook is a good place to connect with existing friends or customers. Create an Ad campaign to bring people to your site or fan page. YouTube is where you can showcase your expertise and use the other sites to promote what you post there.

Make sure to incorporate all of your social media profiles into your website so people that already do business with you can promote you there. Don't forget about blogging... if you haven't already been blogging, that can be a great tool for keeping people coming back to your website.

Also, remember more localized websites like yelp.com, craigslist, and other directories...

[MALAIA!]

Yes.
So is web 2.0