Social media and B2B PR

Is there a role for social media in the context of B2B PR?  Is PR 2.0 relevant in a hard-nosed B2B world where ‘wanting to be someone’s friend’ sounds, to put it mildly, slightly pathetic?  I read that FaceBook is overtaking MySpace in the social media stakes – but, when it comes to B2B, isn’t the mass market mechanism of social media irrelevant to the targeted world of  industrial marketing, financial PR, pharma etc?  Of course, we’re all consumers and potential customers of some company or other – but is the time-consuming activity of PR 2.0 cost-effective?  It’s difficult to know what the reality of all this actually is.  Few people would stand up and pour scorn on a trend that is highly successful in the mass marketplace.  If there’s any research out there, I’d love to know what the conclusions are!

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