If you’re brand new to the whole concept of social networking, the myriad of choices and how they can help your small business can be overwhelming. Knowing what options are out there is the first step in designing an effective social media campaign that doesn’t waste your time or money.

MSN’s Business on Main features an article by Dan Briody that helps to sort through the difference between blogs, microblogs, wikis and the big kids on the block, public social networks such as Facebook, LinkedIn and MySpace:

Public social networks (Facebook, LinkedIn, MySpace). First of all, unless you’re in the rock ’n’ roll business, forget about MySpace. It’s great for sharing music, but it’s for kids. LinkedIn is the exact opposite. It’s marketed as a business tool for people to connect across companies, network for jobs or work, and share information about their current employment status. It is not a great marketing tool. And while you may want to connect with an existing customer or two, you’re not likely to find new ones. Facebook is an interesting hybrid, though. Most people use it for personal reasons, but it does a great job of blurring the boundaries between work and play. You can find prospective customers on it. And you can build community pages around your company or your products.

Click through for the whole article — well worth the read!