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I love social networking for marketing. There are lot of tools that can automate lot of things when going the social networking way - but then again it can seem very spammy. Have to find the appropriate way to do it.
Question is a bit broad though..you can do ppc, banners, ppv advertising on social networking sites, you can use your profile for it. Make an authority profile or youtube channle, get followers and market the s*t out of them. People are THERE - so you can market to them.
So long story short - social networking is one of the best things happened to making money online.
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Absolutely killing it!
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