Is social media marketing a fad or here to stay?

I do not believe that social media marketing is a fad and is an outlet that is here to stay. Even though social media is new to the scene it's power and influence has been great. According to the video on youtube, http://www.youtube.com/watch?v=VInXr2Sl2ao, that while it took radio 38 years to reach 50 million viewers, television 13 years, Internet 4 years it only took less than a year for Facebook to reach 200 million users in less than a year. More people spend time on social networks than other sites. It seems that in such a short time social networks are a way of life for much of the population. I am sure many people would find it hard to deal if sites such as Facebook and Youtube were shutdown.  I think that marketers and businesses are foolish not to take part in social media. Not only does it cost little in comparison to other medias it has the power to generate conversation as well as vast recognition very quickly. I believe that social media will keep evolving to something bigger and bigger and is defiantly here to stay.