Social Media WTF is it?

Social media - this year's new buzz word. It's going to change everything and turn it all around but what is it and does have to do with me or for that matter selling anyway? What do I have to learn now? I just figured out SEO!!!

Social media is just that - social. Techies love cool names, I've heard SMO even (Social Media Optimization) but it really comes down to having a dialog with your customers. I keep hearing well now consumers are in charge and word of mouth makes all the difference but I keep thinking but isn't that what we've done since the dawn of time? You told your friends what you liked, that they should try this place or avoid that place. The biggest difference now it is online but that voice can get heard by more people.

So what is the big change?
I'd break it down to two things, one like I mentioned is it is online and it is possible to reach millions, think of the guy who luggage got broke by United, seems like everyone heard of it even if they didn't see the video. So the reach is broader.
The other change is businesses are getting into the act. Some of them are using platforms like Twitter and Facebook to actually listen to their customers and what they are interested in and answer and respond.

That's the big catch - it has to be a two way street, it is talking but listening too. Social media includes sites like Twitter, Facebook, YouTube LinkedIn, blogs and forums and all the variations of these. Anyone one can be on that site but it is the interaction that makes it social and then you can make connections with the people on the other side. That's where it gets good, those people can be or become customers, using social media to get those customers interested enough to look and then to shop and even better, tell others about it.

The next few weeks, I am going to get through some of the different kinds of media and then how you can use it to help your business. After my research I wonder if I am doing it right myself. I can blog but have I interested anyone enough to get their opinion on it?