If you’ve heard of Facebook or Twitter, then you’ve heard of Social Media. But Social Media is far more than just those two platforms. There are literally hundreds of channels and networks out there.

According to Wikipedia, Social Media is “for social interaction, using highly accessible and scalable publishing techniques. Social Media uses Web-based technologies to turn communication into interactive dialogue.”

From a business standpoint, Social Media Marketing lets consumers and companies expand their audiences via Internet-based platforms. Just as with in-person conversations, Social Media involves two-way dialogue as opposed to old-fashioned marketing’s one-way broadcast. It’s simple: the more people you interact with, the more likely they are to use your product or service, and the more likely they are to recommend it to friends.

Social Media Assets are defined as profiles and/or accounts created on social media and new media platforms. Examples of social media assets are fan pages on Facebook, profiles on MySpace and twitter and channels on YouTube to name a few. Social Media is media designed to be disseminated through social interaction, created using highly accessible and scalable publishing techniques. Social media uses Internet and web-based technologies to transform broadcast media monologues (one to many) into social media dialogues (many to many). It supports the democratization of knowledge and information, transforming people from content consumers into content producers.