According to the Institute of Public Relation’s recent study, “An Analysis of the Increasing Impact of Social and Other New Media on Public Relations Practice,” the new medium is impacting the PR & SEO profession:

88% of respondents believe blogs and social media have made communications more instantaneous because they encourage organizations to respond more quickly to criticism.

73% of respondents believed the emergence of blogs and social media had changed the way their organizations (or their client organizations) communicate.

More than 90% of respondents encourage the use of research to measure how blogs and social media are impacting their organizations, but only about one-third (39%) say their companies actually are conducting this measurement.

As companies put solid social media monitoring strategies in place, they will find the information necessary to help define their online corporate brand identity and to develop a strategy to ensure these new platforms are helping them strengthen their image and communicate with their customers.
Ignoring ” social media ”  Won’t Make it Go Away !
The most important thing to understand about Twitter, Ning, LinkedIn, Facebook and other social media networks is that the conversations are taking place with or without your participation.