Despite growing investments in and increased use of social media, many companies, non-profit organizations, governmental institutions and associations are far from utilizing the full potential of these communication channels. This is revealed by the study “Social Media Governance 2011”, a joint research project organized by the University of Leipzig, pressesprecher magazine, and Fink & Fuchs Public Relations. The study was conducted for the second time this year, following a pilot study in 2010. A total of 596 corporate communication managers in Germany, Austria and Switzerland were surveyed. The study investigated the status quo of Social Media Governance, i.e. the status of regulatory frameworks for the strategic management of social media activities in organizations, identified the parameters and prerequisites for communicating on the social web, and examined the associated changes in the daily work and the required level of expertise.