People can talk all they want to about whether or not social media is effective, but the proof is in the numbers. In the early stages it was considered a Fad and now it has its own degree program like I mentioned in the blog below this one. I'm pretty sure it is here to stay, but don't believe me, take a look at the numbers.
Taken from the Wall Street Journal almost a year ago, the posted link is data that shows social media is considered more effective with over 2 times more yes votes than not. Several people who answered the poll question also took some time to comment on what they felt were the benefits to social media and how effective it had been for them. The following is a very good comment that sums up how positive social media can be for a company:
With comments left like that and 64.5% total votes, it is safe to say that YES social media is effective and will continue to be.