The lines between social networking and social media continue to blur, but in short, we approach it as
Social Networking is about relationship building and conversation between immediate parties.
Social Media should first be approached similar to traditional media outlets - tv, radio, magazine, newspapers - one party puts forward content that may, or may not, generate a response.
The Social Media platforms, such as YouTube and now Facebook, provides means for distribution of content.
The Social Networking component is folks sharing that content.
True dialogue would, to us, be still under the "Networking" banner, as a relationship is being developed.
Posts that are to promote oneself, rather than engage the author, would be another form of social media, in our opinion.
So why does Social Media Matter?
Most businesses thrive or die based on distribution. With the internet, distribution is made readily available...and frequently for free!
And because people will comment, share, create additional and relational distribution to their friends (i.e., high trust value), your message gets shared with more and more people.
It helps with SEO - more content means more places to be found.
Second largest search engine? YouTube.
Did I mention it's free?