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There's a big difference between watching Golf and playing Golf at a professional level. Social Media is no different that other professional efforts.
This Presentation should give you an overview of how to start your social media efforts. It outlines the reach and scope of social media (SM) for those new to the space.
The conclusion that should be drawn after reviewing this is that developing a structured & planned Social Media Strategy and Tactical implementation plan is crucial to your companies success.
Without a plan you may find yourself creating a negative brand image within the space and end up spending more money trying to undo what you created and start over.