Take a look at the 22 tips taken from an interview with Robert Patterson, Director of Social Media & Web Analytics at MMG Worldwide.
I read it in Josiah MacKenzies Hotel Marketing Strategies blog

Wonderfully concise

  1. My day to day is analyzing marketing opportunities for our clients
  2. A lot of the doubt around social media is in tracking and ROI
  3. We start with analytics and see what social media referrals are already coming into the site
  4. Look at the demographics and find your target audience, and then create messaging around that
  5. We want contests to encourage loyalty
  6. We try to get people to both opt-in by email and fan you on Facebook
  7. Both email subscribers and Facebook fans are valuable
  8. We don’t see Facebook fans from an ROI perspective, but as earned media equivalency
  9. No one has really figured out the value of a fan yet
  10. We’re looking for referral visits to a website and goal conversion rates
  11. You need to compare goal conversion rates with other referral sources such as email and PPC
  12. Typically individuals coming from social media are more engaged with the brand
  13. Look at return on influence
  14. In terms of volume, PPC is much larger than social media
  15. Search engine traffic is typically 50-75% of website traffic
  16. Social media is much lower volume, but conversion rates are usually higher
  17. Integration is going to be key in the future, bringing social networks to websites
  18. The open graph that Facebook recently released is a huge push into making the web wide open
  19. Having a single login will be huge for encouraging people to share content across a wide range of websites
  20. Third party reviews are less trusted than friends and family
  21. The name of the game is interconnectivity
  22. The quicker people are to get on board, the further they will be of their competitors just entering the space