With the invention of facebook there is huge place for marketing for small businesses. But small businesses when starts have not good resources for hiring the people for this. But as you know all the people using computer interact with facebook, linkedin, twitter and now google plus each day. You can create your pages on facebook to make the appearance of your company and get users and you updates page daily or on weekly basis about your company.
Most companies try to do traditional marketing in contrast to social networking marketing. But you can place ads of facebook-like websites which gets more response than other sources. Events can be created on facebook to catch the attendees and you can promote your business. You know that millions of people use networking sites daily and so have to not put behind good opportunities to keep in touch with these users.
You can make a video about your company product or review of your company website and upload to social sites. And you will certainly get your customers who are interested in doing business with you. But note that the quality of video greatly matters and it reflects your company. You can offer prizes on pages or groups on such networking sites, it creates interest for the visitors of your pages and groups. You can also write and share the articles in those sites. Twitter and myspace also is good resource for sharing your tweets and profile pictures of your company.