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According the latest eMarketer report, social media is at the top of US advertisers’ list in regards to both SEO and PPC strategies in 2011. Link Building programs and CMS processes round out the top 3 for SEO, while local search advertising and managing the impact of Google instance make the top 3 for PPC.
I think that this is a year when you are going to see a big separation between the companies who get Social Media and who don't. Some companies will simply fall too far behind.