It’s no secret that social media has been a media darling over the last few years. A chief subject of the non-stop buzz is micro-blogging site Twitter.

The site, which allows users to post thoughts of 140 characters or fewer via computer or portable device, is, by its own definition, a way to share and discover what’s happening right now.

But what does that mean to a business? Twitter may be real-time, but if that real-time is what type of cappuccino someone just ordered, it’s not helpful.

So, while you’ve heard that 20 million people in the U.S. are on Twitter, that doesn’t mean you have to be, right? It’s like my mamma always says, just because everybody else tweeted they’re going to jump off a bridge doesn’t mean you have to retweet it.

So the question becomes: Is my company fit to tweet?

Let’s not get too deep into the Twitter world for now. First, go to twitter.com and start by finding out if the people you’re trying to reach are on the site by typing names of people or companies into the search box. If you’re customer-facing, your customers are on Twitter, plain and simple. But if you serve an industry, look to see if your clients are on Twitter. If so, you can join (it’s free) and follow them – this is Twitter-speak for signing up to read their messages – to see what they’re saying. If nothing else, this is good intel.

The next thing to think about is what image would you like the Web 2.0 world to have about you? Zappos is probably one of the most famous twitter case studies, as a few hundred employees are on daily describing what they’re doing at work and how passionate they are about it. It may sound boring, but it’s a brand – and building it this way costs time but not hard marketing dollars. Of course, this is aggressive twitter strategy.

You may just want to use your account to track what people are saying about you – or if they’re saying anything at all. You can track word searches or hashtags (Cool kid lingo warning: hashtag is the new word for the pound key) attached to names or products. For example, Starbucks would search for #coffee or starbucks to see what people are saying at any given moment. Even with a passive strategy, this could allow them to have faster reaction times to common complaints. It also lets you see trends. On our Smart Business page, for example, we’ll often check in on keywords like #leadership or #entrepreneur to find new people to follow or see what stories we have that may be relevant to the conversation.

As for joining the conversation, each business has to develop its own Twitter voice, but the idea is to contribute to the conversation in a way that doesn’t just say, ‘XYZ Widgets is the bee’s knees!’

Is this for you? I don’t know. I love social media more than the next guy, but some companies probably aren’t fit to tweet. Before you start an account, think about how you would use it to effectively and affordably expand your online brand. I could easily see my local dry cleaner creating a page that offers Web coupons on service and fast-hit clothes maintenance tips. (‘Don’t wipe, blot!’ it would say.) Once you start tweeting (the active verb of sending out messages), you’re on the hook. If you stop, your account looks dead – and so does your online brand. There are many schools of thought on how often you should tweet, and I’ll address that in a later blog. For now, know that you need to do it at least a few times a week.

Whatever you think about your future on twitter, people are on it and they are talking about brands and business. It used to be that an angry client, spurned employee or mistreated customer ran out of gas after telling their friends and family about a bad experience. These days, they can share it with 10,000 followers. (Ask United Airlines about this. The song ‘United Breaks Guitars’ has circled the social media globe to the tune of more than eight million views.) Twitter gives you a chance to keep tabs and respond, which might be the right fit for you.

Next time: Why would a business be on YouTube?

Mike Cottrill is the manager for online operations at Smart Business. His blog posts are based on common objections and questions business leaders have about adapting to social media and Web technology. You can follow him on Twitter @mrcottrill or connect with him on his LinkedIn page, mentioning this blog.