I think that Lena West's list (from the link below) was very insightful and it is put in a good order.
Number 4. paraphrased as find out what's working and what's not working in your marketing program, cut what is not working and add that time to your social media program. I think this is right on target.
To often I hear that "I don't have enough time to do networking" and yet I suspect time is being wasted in areas that are not supporting your business. Sit back and make the list. Go outside the office and look in - is everything working?
I also thought that number 8 is very important. "Create your short list" (we are into lists) - find out where your clients/customers are and go there. We need to spend time with our clients that is what social media is supposed to be doing. No need to try and use all the tools, just the ones where the people are.
And remember it is "Social".