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More than 20 million Canadians are on online social networks - a sea of marketing possibilities for small business that would dare to dip their feet into the Web 2.0 pool.

Valuable business intelligence can be gleaned from the consumer chatter taking place in social nets and companies that manage to get a word in edgewise on the conversation might even bring some traffic to their front door, according to Internet marketing experts.

"Social networks are genuinely useful for businesses that can understand and learn to use this tool," says Michael O' Connor Clarke, vice-president of Thornley Fallis Communication, a Toronto-based communications and public relations agency.

Essentially, online social networks are pockets of communities formed by people who discuss common interests using various tools such as: blogs, short message services, social sites, videos or digital photos. In a span of a few years, the trend has evolved from a lifestyle-based activity to corporate and business applications.

Yet, even with social networking rapidly gaining pervasiveness, the practice is not for everyone and might not suit but instead harm the operations of some businesses, warns Clarke.

Another Web marketing expert agrees.

"Social networking is a double edge sword," says Dominira Saul, usability specialist for the Ottawa branch of Macadamian Technologies Inc., a software development and technology usability research firm.

Online communities where people freely exchange views and espouse ideas have turned traditional marketing and media concepts, he explained.

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