I was asked this question yesterday during a meeting with a company who is just starting out setting up their social media channels.
My answer? Absolutely.
See, humans have always been social animals and always will be. And it is going to be hard to isolate yourself from social networking.
If you are a company looking at using social media you really need to make sure that you are willing to be part of it and to actively play a role. Social media is not (only) about aquiring new clients – it is foremost about building and engaging with as well as listening to a community. Being open also means that you may encounter cristicism. But that should be encouraging. We all know that embracing criticism or dealing well in a crisis can lead to becoming more succesful.
So what are the risks? The only risks lie in not doing it, because social media is here to stay.