What can online Social Media outlets give to a new online business?

So... Word of mouth is the most important way for businesses to compete on Social Media platforms right? The two co-founders of Groupon have a different point of view. The key points made by the two at last week’s Chicago’s Idea Event are;

The value of social commerce is two-fold;

1. Social commerce helps businesses get online (social has a lower barrier to entry)
2. Social commerce helps your business grow (“disseminate”) faster (viral effect)

Matt