Internet being a global phenomenon, you will find people from all over the world coming together to talk and share information about their particular interest. It had never been easier that this to make to make friends and socializing over the internet. When we talk of social networking we are just not referring to the chatting and other blogs and forums where people discuss certain topics. We seem to be using the social media for sharing videos, movies, music, photos and all of the information that one would want to share. Today social media is a big marketing tool for promoting company products and services that have help a lot of reputable organizations gaining big market share and increasing revenues beyond once imagination how significant social media is contributing to business and the entire global enterprise. Marketers have got to understand the fundamental differences between other marketing channels and social media networks. Social media networks are the most direct channel that provide access to the would be customers and existing customers. However it is also important to note that the conversations and information between the communities and individuals on various forums and blogs is totally voluntary or collaborative. Marketers do not have absolute control over any discussions on the forums concerning products or services.