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Take search engine optimization (SEO) and mix in social networking, web 2.0, and social media, and you have social media optimization (SMO).

The video below has some useful information (the audio is a bit soft). It discusses starting with social media optimization as it applies to internet marketing.

Here is another video on SMO – talking about brand development and customer relationships, and the search for ROI (return on investment) for using SMO.

There are other related terms that have been used, such as Social SEO.