There are so many backup vendors that support this that it can be a bit overwhelming. I usually try to recommend that you leverage whatever your current backup solution is, if that vendor provides VMware compatibility.
Think of snapshots as a tool and not a solution, if that makes sense.
Clones can work, but the management and operational tasks around this could quickly get out of hand.
One of the biggest things to consider is the consistency of your backups. That is where using 3rd party solutions can really start to provide value.
Also, check out http://kb.vmware.com/kb/1015180 and kb.vmware.com/kb/1009402 for more information on snapshots.