is my take reading about Facebook, MySpace Aren't Making the Marketing Cut in Marketing Daily citing a recent survey by GfK Roper for Epsilon.
The point is not to use these sites as tools to be introduced in the traditional marketing mix, as they wish to do, but to observe, listen to and participate in the conversation about brands. According to the survey, marketers consider email marketing more effective and measurable. This is a telling statement, as it is a traditional one way communication tool and different from using social networking or social media sites. The two tactics can't really be compared. To consider a presence in social media in terms of "a campaign" is the wrong approach anyway as it requires a permanent community type effort to be effective.