The problem with Twitter, Facebook et al is not the tools themselves, but rather the fact a million and one self-professed "social media experts" have sprung up and do their best to sell services explaining how great these websites are and how everyone should get on them, devising workshops, seminars, tutorials and all sorts.
Fact is they're social networking tools. Networking online, like networking offline, is not a basic sales tool - it's about developing relationships, long-term genuine relationships, and that takes time, commitment and devotion. It's not an easy sell and they're not direct sales tools.
They're also not good for every business - and we've got to remember that multi-million pound businesses grew and existed long before Twitter and online social networking. The web can fundamentally change the way companies do business, it can create new markets, save immense amounts of time and money in terms of processes within business, it can create fantastic life-changing relationships both personally and in business.
But Twitter isn't right for every business and in this day and age where a lot of businesses are about services and about selling 'time', time is a very valuable commodity. For many businesses, if the people involved in tweeting or updating blogs or Facebook pages spent as long doing certain other tasks, the business may be far more profitable. It depends entirely on the business.
Before tweeting, setting up a Facebook page, adding forums to your company website, you ought to think about the strategy behind it all and why you're doing it and who you're targeting and how much time it's going to take. Just like offline networking, online networking - or even blended networking strategies where you successfully combine online/offline networking with the same people - really isn't a "must have" for every business at this stage.
I'm a huge advocate of the web (I've been in the industry since 1994 and run a number of niche social networking websites as well as advise on online commerce platforms for some of the UK's largest retailers) and a proponent for the fundamental change of business processes around internet technology - BUT, and I've been saying this since 1994, don't just go online because you think you have to, don't just get a website, think first about your strategy, who you're targeting, why, and where they go... the web may not be right for you and these days social media may not be right for you... yet.