How Important of Social Media for a newly start company?

Hi Bro, Nothing free, everything cost money and resources. Social Media just cheaper than other ways.
As most of you know my view of marketing is it's a tool we use to inform consumers about our products, who we are and what we offer.
- We can use social media to provide an identity to who we are and the products or services that we offer.
- We can create relationships using social media with people who might not otherwise know about our products or service or what our companies represent.
- Social media makes us "real" to consumers. If you want people to follow you don't just talk about the latest product news, but share your personality with them.
- We can use social media to associate ourselves with our peers, that may be serving the same target market.
- We can use social media to communicate and provide the interaction that consumers look for.
The role of social media in your marketing is to use it as a communication tool that makes you accessible to those interested in your product and makes you visible to those that don't know your product. Use it as a tool that creates a personality behind your brand and creates relationships that you otherwise may never gain. This creates not only repeat-buyers, but customer loyalty. Fact is social media is so diversified that it can be used in whatever way best suits the interest and the needs of your business.
In conclusion that Social media play very important role in marketing not only for newly startup, but even the big enterprise may still need this powerful tool.
Check out BMW fan page: http://www.facebook.com/BMW