I was recently running a workshop about Word of Mouse Marketing using social media from blogging to microblogging, podcasting to video casting and it was heartening to see that about 8 per cent of the 140 attendees were blogging about their business.

However I then became disheartened as most of those blogs had been developed on a platform such as Blogger or Wordpress.com.

If anyone tells you that business blogging is not a significant investment of your time, they clearly are not a business blogger developing online content and implementing a link building strategy to bring traffic to their business blog.

Don’t get me wrong, blogging is a terrific online marketing strategy if executed effectively. I could think of no other way that I would have attracted as many leads to my business so cost effectively without a business blog.

However if you are going to invest in business blogging, be good to yourself… don’t have all those wonderful incoming links to your great content go to a blog that is not hosted by you.

You might think this is something that only happens for small businesses - it’s not!

A colleague of mine on a social media working group is employed as an online expert for an online insurance company, and their external consultant had advised them to develop a business blog using Wordpress.com.

I’ve even seen Marketing Directors of major companies who should know more about branding than most use a blog that is detracting from their personal brand online as they are using Blogger.

Online personal branding experts even look to encourage people to use Typepad.com as a blog platform - whilst it’s a great blogging platform that I use and recommend, if you also have a website, a Typepad blog is not going to help you with your link building and search engine optimisation strategy which is becoming even more critical as few people now move beyond page 1 of Google when searching and researching online. What do they do if they can not find what they are looking for online on the first page of their search? They change the words they are using to search with of course.

Investing a little in implementing a business blog that is hosted on your website not only makes you look like you take business blogging seriously as part of your online marketing strategy, it also means that every link to your great content is a link to your website.

That way you will be sure to benefit even more from your online content strategy buildng links to your business blog.

Usually faux blogs get lambasted on the blogosphere for violating the unwritten business blogging rules of transparency, openness, and authenticity. (Remember Raging Cow?) Not so with “Fake Steve Jobs,” aka Forbes columnist Daniel Lyons, who gave a hilarious speech at the Web 2.0 Expo last Friday. The 25-minute video is embedded below:

Lyons’ main points about his successful blog are:

• It’s material he’s excited about
• He has fun writing on FSJ
• He embraces audience participation
• The mystique behind FSJ’s identity helped build the blog’s readership

Lyons covers three “Whys” behind the Fake Steve Jobs blog: why he got into blogging (fear and boredom), why he chose Steve Jobs (he’s narcissistic, Apple has bad PR, and Apple fans tend to be so, well, fanatic), and why it works (it’s the audience!). When he first learned of successful business blogs like Jonathan Schwartz’ at Sun Microsystems, Lyons thought it was a great idea. But what if one of those blogging CEOs went crazy and posted all kinds of un-photogenic, not-approved-by-PR material? Thus Fake Steve was born, and readers found it interesting. He had 90,000 monthly readers within 6 months of launch.

“I think what’s happening in media is profound and interesting. This thing [Fake Steve Jobs] is all very wrong, obviously very stupid and primitive, right? But it’s a great way to learn about how new media might work. I think the biggest change we’re going to have is the involvement of the audience. Where Internet media is going to get interesting is when we start really exploiting the uniqueness in it rather than paving a cowpath. First generation Forbes.com was, take the print magazine and put it online. Hulu was take TV shows and put them online. But when we start involving the audience, and having people form a group to entertain themselves, I think that’s going to get really interesting.”