There are, no doubt, a few good reasons for some business endeavors — in particular, professional service enterprises — to have concerns over the use of social media. For example, lawyers, doctors and accountants cannot be perceived to be offering legal, medical or tax advice in any media marketing context — social or otherwise.
I believe every concern I’ve heard can be addressed; but I’ll also cop to believing the benefits of conversations with clients and targets far outweigh concerns — provided, of course, ethical and regulatory issues are appropriately addressed.