As more organisations realise Social Media is something that can benefit their business it is important to remember that Social Media has matured beyond just having a Facebook and Twitter account.
To maximise benefit though you need a strategy. Remember that Social Media is about engaging your audience. You could actually alienate people or damage your brand if you do it badly.
Get Informed
You can get ideas by reading articles such as this - http://www.clickz.com/clickz/column/2046657/steps-developing-social-media-strategy
Rules of Engagement
It is important that everyone from your organisation is clear on the Rules of Engagement. Here is a good example. - http://channel9.msdn.com/About/
Remember that everything someone from your organisation says online represents the organisation so you don't want people saying things they shouldn't. You should also decide who from your organisation should be posting comments or feedback. Should you have a consistent voice or do you prefer having many personalities engaging your users/customers?
Keep Users Engaged
Will new content be posted regularly? At least once per day is a good start.
Set Goals
You should have some clear goals up front. Is it all about the traffic or is also about quality of information or getting to know your users.
We recommend setting up an account with http://sproutsocial.com to measure the results of your Social Media campaign.