The post, by Joshua Moser on the My Super Marketer Web site, is not suggesting that social media is a waste, only that a lot of people have a wrong or inflated idea of what it can do for them.
I'll give you his bullet points, but if you're interested in this I suggest you read both the blog entry and the comments that follow,
- Define your audience.
- Make a compelling offer to capture their attention.
- Collect the right amount data and usable customer feedback.
- Take it beyond Facebook into a cost effective nurture marketing process.
- Test. Analyze. Refine. Repeat.