Social media has made waves in the internet world. Internet is no more a mere medium for sharing information. It has reached a new level with emphasis on social interaction, with usage of various tools and application. Tim O’Reilly brought the web 2.0 concept. Web 2.0 is nothing but a description of new trend in World Wide Web technologies as well as web designs. Web 2.0 allows users running various software applications wholly through internet browsers. Now the websites are no more mere collection of web pages with information and animations. There is a dynamism propelled by hosted services as well as web communities. Social-networks, blogs, flokonomies, forums, pod casts wikis etc comes under social media, changed the way the information sharing taking place on internet. Through social media audios, videos, games, contents and various other stuffs are shareable.

Myspace, Second Life, Wikipedia, You Tube, Digg etc are some of the current popular social media. Various social media tools for communication allows people to have real relations unlike olden day chatting. Thousands of fresh web logs come into the web space everyday and the growth rate is rising rapidly. Effective sharing of ideas and collaboration between different people takes place for various activities. Many good friendships are springing up online, and the distance seems nothing. However, one negative point that marks the social media is the addictive nature related to it. Many a people find it difficult to keep away from social media there by harming their creative time.

Since numerous people use this platform, marketers are targeting social media for marketing. Many web based businesses ploys social media marketing for promoting their products and services. On the other hand, social media allows consumers to have better interactions regarding products and services with various people. It is earlier to say that the business engagements will get into a fast track through social media, as trust is a big factor when it comes to investment. Many online businesses are on the verge of adding social media facilities on their websites for improving the user friendliness. Old-fashioned broadcast model in business websites are moving out with participatory model coming into place with the social media. Social media can keep the on spot meetings away, which are normally good for business. To tap the true potential of the social media many companies use social media optimization techniques for promoting products and services effectively.

Social media is a tool for income as well for many. The advertisers posts ads on websites, blogs, and other business opportunities in social media. The traffic possibilities emerging from this is not a small one, so if one can use good social media marketing strategies, there is every chance to make good money. For having success, first one has to target a market, and then choose the right social media .Then, it is vital to generate compelling content for the visitors. Better the quality of the content, greater traffic awaiting the sites. Social media is the future of internet communication and business.