Last week Bob and I were privileged to have been interviewed by Lan Nguyen from TheStreet.com. She has put together a good post on what companies need to think about when launching a social networking initiative. It can be found at this link: http://www.thestreet.com/story/10464655/1/get-free-marketing-publicity-i...

In a nutshell, the article offers advice from executives and authors (like Bob and me). You should follow the link above and read the article. Here's a summary:

Mine your network. Find customers as well as personal associates to build your network online. This is a web after all, so the more connections the better.

Set limits. You need to think about how much time you are willing to commit to the project, and about how open and transparent you want to be. Customers expect honesty - transparency - so be sure you're ready to deliver.

Determine your level of commitment. These initiatives take time. Start small, learn, and then move forward. Don't jump into the deep end and fail on a global stage.

Chat first. Pitch later. Be real. Be conversational. Don't use corporate speak.

Don't give up. Many companies may lose interest and not actively participate, or let their profiles get cobwebs.

Join the revolution or be left behind. This admonition speaks for itself. Social networks offer yet another place for you, or your competitors, to shine and enhance or deteriorate customer loyalty.