Social media marketing (SMM) seems to be the new buzzword in the marketing industry, every business wants to get in the game. Social media marketing industry is still in its infancy.

Whether to outsource social media implementation or develop the capability in-house can make or break what you might be able to achieve in the social media world. And this is not an easy decision. Your corporate Web site is the foundation to a social media marketing strategy. The Web site should act as a resource; offering articles, press releases, tools, video and images for syndication. Search results has changed the game for search engine marketers. Even with full disclosure from your marketing team or partners, dishonest messaging can cause more damage than good, as most information can be quickly validated via online fact-checking. All communications should be relevant and add value to the conversation or community and no campaign can truly succeed unless significant time and resources are committed over a period of time. To get started on your social media marketing and optimization program, develop a strategic plan. The first step is to conduct an audit of your current presence (as compared with your top competitors) on search engines and social media sites.Ideally, develop a crisis management plan in advance, to address any negative ratings, reviews or comments. With the corporate Web site taking on the bulk of heavy lifting, your social media marketing team can now focus on outreach to other third party Web sites.Get to know the online influencers in your industry and treat them with respect. The success of a social media marketing and optimization program depends on the following factors: transparency, honesty, relevance, value and commitment. Armed with company descriptions and links to social media content (images, videos, articles and press releases); start creating social media marketing  profiles. Identify and address any potential issues relating to company or products by following the success factors address earlier.

Stay active in relevant communities. Monitor and engage as appropriate, offering suggestions, providing feedback and answering specific questions.