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If I had a nickel for every time someone has uttered the phrase “social media” in the past two years, I’d be writing this from a beach in the Bahamas. I haven’t seen this much commotion and consternation in a decade.

As a business owner/leader, you need to push past the hype and get down to the two critical questions: What are we really talking about when we say social media, and will it help me build my business?

This week, let’s tackle the first question. For most people, social media equals three things: Facebook, Twitter and blogging. True but hardly all-encompassing.

Social media is a catchall term for using any Web- or mobile-based tool to promote a person or organization’s products, ideas, issues and services. They are simply communication tools that allow and even encourage interaction, connection and community.

The tools are so plentiful and so fluid (many are born and fail on any given day) that it’s impossible to keep track of them all. But they reach out far beyond the big three. Let me give you a few examples.

E-newsletters: Today’s version of an e-newsletter allows the reader to react to stories, vote on surveys and rate the content.

Digital magazines: Just like their printed brethren, but with video, links and conversation between writers and readers.

Text messaging: With broadcast sites, you can update conference attendees on the fly or survey your best customers to see what they’d like your midweek special to be.

Bottom line – social media is much more than a Twitter account. Next week, we’ll talk about how to use some of these tools to expand your business.

Drew McLellan is Top Dog at McLellan Marketing Group and blogs at www.drewsmarketingminute.com. He can be reached at Drew@MclellanMarketing.com. © 2010 Drew McLellan