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I certainly think social media works well, especially with university students. As so many people spend so much time on these various platforms it is good to have a means to connect. But it is also good to compete with some of the vacuous information that wastes time on social media.
I will be using twitter this Autumn for a course with undergrads and postgrads. I think it will be useful to many students, but I think it is also key not to make it necessary either. It simply has to be an alternative, extra, or flourish.