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[Matt MacLeod Company: ViSalus Sciences Contribution Level: 1]

As an online social media and SEO consult, I find people have a largely misunderstanding of what social media is and can do for their business. Let me start with the biggest missed conception, social media is NOT a direct sales medium.

If you look at getting followers, friends, likes, connections for the sole intent of how do I get them to buy from me, you are missing the purpose of social media. For anyone who has read the book "Tribes" by Seth Godin, you have a good understand in what social media is for, building your own following.

Social media is a great platform for engagement. It is also a wonderful medium for market research. By using social media to better understand your audience, you have something better than trying to make a sale. You have a growing asset that can generate ongoing sales on demand.

[Jacob Sikais Contribution Level: 1]

Social media is the fastest growing industry of the 21st century.

It's an industry that is worth an estimated $27 Billion per year.

The social media industry grew by 82% in 2011... how far will it go in 2012?

The best example of how things are changing with Social Media is to take "Google" for example. The biggest search engine in the world, everyone uses it and god only knows how much it is truly worth. In November 2011 they Launched Google+. A social media network for Google. Why? because they were losing so much of the search market to Social networking, that's why they bought YouTube which is now the second biggest search engine in the world!

You need to be taking advantage of social media or you will get left behind.