The most valuable type of social networking is the where you extend your company services onto the preferred medium of your customers and clients.
In other words, a company involved in selling products can connect with their customers through popular social media mediums like Facebook or Twitter. Here they can offer valuable links to information such as product specs, new and upcoming products, coupons for discounts, or to share upcoming specials.
Or if a company offers services like technical support, they can offer assistance to their clients through social media channels. Rather than spamming customers, companies can offer immediate technical support to customers using social media on an as-needed basis.
Companies can accumulate quality connections this way, and then use those channels to occasionally market new products and services to an already engaged audience.