The social media conundrum is an interesting one. Should you do it? How much resources should you allocate to it? Does it pay off?
Mediapost put out this article today: Small Business not into social media for leads
In my opinion Social Media Marketing (SMM) is more for branding and reputation management that direct lead generation. That being said, I have seen very creative ways for Social Media to promote leads / sales.
Look up the Blendtec. Checkout what they did on a shoestring budget to create a Youtube Sensation.
On Facebook, I follow a former SEO workshop attendee who designs jewelry. She posts her new designs for all her followers to see (and buy!).
Social media really cannot be ignored because it covers so many sites! Yelp is a form of Social media, and you better believe people use it to research your company.