A very basic question indeed, however its answering is vital, as confusion of fundamental terms can prevent one from getting results. Despite of being used interchangeably they are in fact two different things and require some clarification, and if understood will be helpful to marketers.
Social Media Defined
Media: a means or method of large-scale communication. Classic examples of media are TV, Radio)
Social: Relating to or characterized by personal, friendly interaction or relations of that of friends. (Note that there is no mention of advertising).
With that in mind, social media is defined as: a form of mass communication (because your posts and videos are viewable to anyone with an internet connection), which in its nature is friendly and personal. To help give an instant reality; it is making a facebook post on your friend’s time-line about a funny picture you found, or a new movie trailer, or a recent accomplishment, or any other countless form of natural friendly facebook interaction.
Social Networking Defined
Social Network: an online community of people with a common interest who use a website or other technologies (mobile apps) to communicate with each other and share information.
Source: http://dictionary.reference.com/browse/social%20network?s=t
Social Networking: Creating relationships by interacting with users on social network sites.
Conclusion
One makes an account on a social network (a website like Facebook, Twitter, Youtube), with the goal of social networking (interacting with others, creating dialogues and relationships), by using the mass-communication method called social media (which is friendly and personal in nature).
The more your social networking campaign for your business emulates the true nature of social media, the less you’ll sound like a bullhorn and the more people will be inclined to interact with you.
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