If you want a succesful website you NEED to be thinking about how social media can work for you. It should be clear that this is not a FAD and it will not go away. You will hear more and more about it and it will become more and more important.
If you have any doubts as to the importance of Social Media, then just watch the excellent video below… it will be one of the best 4 minutes 26 seconds that you ever spend!
Now not every social media site will work for every type of company or website, but there will be combinations that will work for you. For instance if your company has an online shop there is almost certainly a great sales opportunity if you were to develop a succesful Facebook group. For more professional service based businesses, Linked In may be more profitable.
A blog is becoming a must have these days for any company that want to get seen on the Internet, allowing you to post news about your company, products or even just things you like. The search engines love new content and blogs in particular can really help you get good positions on search engines and help you keep those positions.