Social Media can work wonders for your business. There are effective and ineffective ways to use social media. Lets clear a few things up, to help you market your business efficiently.
Concentrate on one or two social media outlets. In a virtual sea of social media, it's easy to get caught up in too many social media sites. Pick one or two the fit your market demographics and begin there. Don't spread yourself too thin.

Don't be afraid to spend money on social media advertising. The free marketing concept can only take you so far. The more successful social media sites are offering pay per click advertising and impression advertising. Test the waters and see how the paid advertising works for you. Make sure the paid advertising offers ways to target your market. Know who you are marketing to.
Relationships built through social media are delicate. Don't abuse these relationships with spam and unwanted ad pummeling. Losing subscribers is much easier then gaining them. Make sure you tread lightly on advertising. Less is more in this case. Make sure you promotions offer something of value and keep self promoting news to a minimum.
Keep track of time and money spent on social media and track your ROI (return on investment). While many aspects of social media is free. Time can be just as costly. Most people fail to consider the cost of time spent on social media sites. When possible delegate the task of social media communications to a trustworthy employee. A business owners time is far too valuable, when an competent administrative assistant can do just as well.

Dealing with complaints online can be tricky. You must answer complaint positively and constructively. Many complaints are also posted by dishonest competitors. This is an area that rightfully scares the majority of social media users. Know when to delete a comment if needed and when to use a complaint to your advantage to show how you can professionally handle issues. Customers like to see that you take care of pressing matters efficiently.

Remember social media is not what you say about yourself, but what others say about you is what counts. You can self promote until your blue in the face, but one kind word from a customer or a rave review is worth one thousand self promotions. Use positive feedback and testimonials in your advertising. It is much more effective.
Think before publishing. Plan what you are going to say. Don't react quickly to negative situations online. Once you publish on a social media site you may never be able to retract it.  Too many comments are put together in haste that can cost your company revenue and even a bad reputation. Also remember that your competitors can read everything you post. So keep these things in mind before publishing.

Social media advertising takes time, patience and perseverance. A social media empire is not built overnight. Consistency is an important factor. Once you start to build a following you must keep your audience interested without over advertising. Human interest bites are important. I find quotes, quips and anecdotes to be helpful. It doesn't all have to be about business. Have some fun with your customers. Develop friendships along with your business relationships, and you'll be rewarded with a profitable profile that you enjoy and prosper with.