Every other week we read about the latest twist on social networking and Web 2.0. For instance, groups of friends are now able to track one another’s online remarks wherever they appear on the web. Some chief executive officer may choose to have her blog available on the intranet. Another C-suite member may blog on the internet making the information available for investors, employees, suppliers and customers to see.

However, there is the problem of that seductive term, social media. One common characteristic of social media, networking and blogging activities is that they appear to cost money with apparently no concrete return. In fact, some people might argue that social media usually turns out to be synonymous with expensive and time consuming and no clear benefit for the company.