The original Internet changed the way we work and live, and the way we interact with one another. The coming of Web 2.0 promises to be just as revolutionary, and just as important to businesspeople around the world.

When the original Internet came along, businesses like eBay and Amazon.com were quick to see the power of the online world, and those early adopters went on to become some of the most successful net residents. The same is sure to happen with the world of social media, and companies are already lining up to take advantage of this unique marketplace.

Unfortunately, myths and misinformation about the social media landscape and its business potential abound. Falling for one of these common myths could hurt your business, even as you are tying to build an online presence in the Web 2.0 world.

Let’s take a look at ten of the most common social media myths in the business world:

Social media is so easy that your 10 year old cousin can start a website, but that does not mean building a social media presence is easy. Take the time to think out your social media strategy before you get started, your business is riding on it.

Social media is free though it is true that there is no charge to join most social media networks, but there are costs involved in establishing your business presence on those sites. How you look is important, so look for people who can help you establish a great presence from day one.

Social media provides instant results, we have all heard the stories of the overnight YouTube sensations, or the new blog or website that makes a big splash. But those stories are the exception, not the rule. It takes time for social media to start working, and it pays to be patient.

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Social media is all you need and social media sites like Facebook and YouTube work best when combined with other online presences like traditional websites and blogs. It is best to look at your social media presence as part of your overall online marketing plan.

If you build it they will come is one of the biggest mistakes businesses make is assuming that viewers will flock to their sites as soon as they are live. In the social media world it is not enough to build a great site or offer a great product. You need to market that product effectively, otherwise your potential customers might never even see it.

You can do everything yourself, while a web savvy employee might be able to get you online, your in-house staff might not be able to market your website or find the customers you need. Building a team of both in-house and external resources will help you make the most of your social media strategy.

You must establish a social media presence now while it is certainly a good idea to bring your company into the Web 2.0 world, rushing to establish a presence can backfire. It is better to take your time and do it right than to rush in and have to fix your mistakes later.

Word of mouth advertising is not important and in many ways social media marketing is the ultimate word of mouth advertising, since it allows literally millions of people to share their likes and dislikes. But simply having a social media presence does not mean you can ignore traditional word of mouth advertising strategies.

Social media requires no maintenance and a social media site is not a set it and forget it proposition. You need to maintain your site and keep it fresh in order to get the most from it.

Social media is a broadcast medium and social media is much closer to a two way conversation than a one way broadcasting platform. Understanding the nature of the medium will help you make the most of it.

Quality Link Building is About the Long-Term

SEO changes all the time as search engines make adjustments to their algorithms and user interfaces, users adopt new technologies, etc. Still some things never change, like Google’s view on spammy links.

The first piece of advice Google gives is to get involved with the community around your topic. If you were still not convinced that social media plays a very big role in search, consider this is coming straight from Google. Now the networks your community hangs out in may vary, but engaging with the community is simply a good way to get links and build credibility, which also will most likely lead to more links. Engaging is good for increasingly visibility outside of search anyway. Nothing new. Just reiterated by Google.

Sidenote: Listen to what Arnel Leyva of Covario has to say about search and social media from this recent interview WebProNews did with him at SMX Advanced:

Another tip Google suggests is to create content that solves problems for your users – things like tutorials, videos, and tools, surveys, research results, etc. Users who find helpful content are likely to pass it on.

Google notes that humor and other link-bait tactics can work for the short term, but does not recommend counting such tactics. “It’s important to clarify that any legitimate link building strategy is a long-term effort,” says Google Search Quality Strategist Kaspar Szymanski. “There are those who advocate for short-lived, often spammy methods, but these are not advisable if you care for your site’s reputation. Buying PageRank-passing links or randomly exchanging links are the worst ways of attempting to gather links and they’re likely to have no positive impact on your site’s performance over time. If your site’s visibility in the Google index is important to you it’s best to avoid them.” (emphasis added)

“Directory entries are often mentioned as another way to promote young sites in the Google index,” says Szymanski. “There are great, topical directories that add value to the Internet. But there are not many of them in proportion to those of lower quality. If you decide to submit a site to a directory, make sure it’s on topic, moderated, and well structured. Mass submissions, which are sometimes offered as a quick work-around SEO method, are mostly useless and not likely to serve your purposes.”

Szymanski also suggests looking to similar sites in other markets for inspiration – not to copy them, but to see the things that they have done to be successful and see if there is a way to apply that to your own site.

Finally, probably the most obvious tip offered here is to make it easy for people to share your content. Things like Facebook “likes” and Twitter retweets can go a long way in creating new links to your content. Granted these won’t necessarily boost you “pagerank” but they will boost your visibility, which can lead to more quality links, and simply traffic, which is ultimately the goal anyway right?

You probably don’t need to read the latest advice from the online marketing consultants to figure out the basic idea behind link building. Without links, your site won’t develop authority. Without authority, it won’t move up on the search engines. But even the most savvy online marketing consultant would have to admit that doing that is just not as easy as it sounds.

More is Not Better in Link Building

Just going out and getting a bunch of links won’t necessarily help your site. You need quality links to get higher search rankings. But sometimes figuring out what makes one link better than another is tough. This is where you do need to keep up with what the online marketing consultants are recommending or you may just be wasting your time.

Targeted Anchor Text is a Must

When you start pursuing links on sites, you need targeted anchor text. However, you don’t want to use the same text everywhere. Google will notice that in a bad way. You want to use two or three different phrases and the proper name of your website. If you can’t get anything but an image link, make sure the site owner puts your anchor text or the name of your site in the ALT tag of the image.

Pay Attention to Links In and Out

Google looks at the site where your link appears and decides how much benefit your site gets back. A site with a lot of inbound links passes more authority to your site. At the same time, being linked on a site full of low-quality, outbound links probably won’t help you much.

PageRank Isn’t Everything

Don’t be one of those site owners who sees nothing but PageRank. A site with high PageRank can still have low link value. This is especially true of sites that sell links. Steer clear of sites that use phrases like “sponsored by” or “paid for by.” Google may not let that site pass PageRank at all. Move on. They’re not worth your time.

Concentrate on Site Relevance

Let’s say your site is about red widgets. You get a link on a site about purple doohickies. That link isn’t worth as much as one on a site about red widget management. Make sure you’re pursuing links in relevant places and look at how those places are optimized. If a site owner gives you a choice of having a link on a page titled “About Us” or one with the title “About Red Widgets,” which one do you choose? The link on the optimized page, “About Red Widgets,” has more value.

An Online Marketing Consultant Checks What’s Not Obvious

Take your cue from the pros and check sites in ways that aren’t obvious. For instance, in any search engine, you can type in “cache:” followed by a site url and find out if the site has been indexed and when it was last crawled. But what do those dates mean?

Chances are good that if the site hasn’t been crawled in 30-45 days, it’s not a good place for a link. But some domains have more value than others. For example, links from .edu domains are better than from a .com, but .info is worth less. All these factors should be weighed in judging a site’s worth in your link building efforts.

Does Social Networking Matter?

We’ve all seen the little link bars under blog posts and in forums asking people to Digg or Reddit, Facebook, Twitter, or StumbleUpon. Do you need to try to get links in places where social networking can happen? Yes. Alone those links may not have a lot of value, but Google is increasingly looking at the “active Web” in determining site authority.

It’s time consuming, but participating in forums and social sites and getting blog owners to run your articles with your linked anchor text included can be worth your time. But remember, relevance is a basic rule in online marketing consulting.

Are You Getting Clean Links?

When you get a link on a site, do you go look at the page’s source code? Is there anything extra in the “href” tag on the link? Is the site using redirect code? Is there a “nofollow” in the site’s meta data? If there is, the link is useless to you. It won’t pass any authority to your site because that code tells the search engines not to follow the link. Make sure you’re getting clean links.

When you’re on a tight budget and trying to develop your site and get higher search rankings, it can be a tough decision to work online marketing consulting into your thinking. The Web used to be pretty much a do-it-yourself place. That all started to change in 2004 when people began talking about “Web 2.0.”

It’s harder than ever to judge quality link building in the new world of Web applications and social networking. You can do it, but try to stay up to speed on what the online marketing consultants are recommending as good strategies. The Web is changing all the time. Good link building takes time and effort; you don’t want to waste those any more than you want to waste money during hard times.