A lot has changed in social media since BusinessWeek’s landmark 2005 article, “Blogs Will Change Your Business,” which still attracts readers. After compiling hundreds of survey responses and other research, the authors realized the focus of their story missed an even bigger issue: that blogs are just one of the many do-it-yourself tools on the Internet, and that social networks have surpassed blogs in popularity in recent years. So, Stephen Baker and Heather Green updated the ‘old beast,’ moving it beyond the blogsphere.

What this means?

Despite the immense amount of influence blogs have, especially in the technology arena, they’re actually only read by a small percentage of the population. Although the popularity of blogs is still growing, the exponential growth in social networks, like Twitter and Facebook, has become a far more potent force. Social networks are creating a dynamic platform in which to exchange information, extending reach, raising visibility, obtaining new clients, growing businesses and, consequently, enhancing the internal and external model of business.