When it comes to developing a social media plan, I advise taking the turtle approach.  Many companies and organizations are hustling to set up profiles, accounts and pages on various social networks.

The best approach is to take your time, take a step back and approach it like you would any sustained effort for the entity. There are many new wonderful and exciting new tools in social media and social networking. 

These tools will produce the best result when 1) thoughtful consideration is given to how a sustainable social media plan fits into the overall goals of the organization, 2) they are fully integrated into the end goals, and 3) the who and the how of implementation are established from the start.