can any one tell me the best tips and tricks to use social media networking and bookmarking websites for search engine optimization.

Social Networking: The programs allow users to interact and share data with other users. This computer-mediated communication has become very popular with social sites like MySpace and Facebook, media sites like Flickr and YouTube, commercial sites like Amazon and E-bay. Many of these programs share characteristics like open API's, service oriented (customizable), and the ability to upload (data, media).

Social Bookmarkings: The ability to save and categorize a personal collection of bookmarks and share them with others. Users may also take bookmarks saved by others

Hope this help you: Blog promotion tips

Thanks stogo for the link.