Ok, so it's a bit of a long list that I'm sharing, but saw this article and thought there were some good points:

50 Things Every Exec Should Know By Now About Social Media - click link for full list  By Auggie Ray

1. Your child has a better shot at creating a viral video than does your brand.
2. You cannot post and tweet yourself to marketing success while customers are drowning you out with complaints about your product, service or corporate policies.
3. People sign into Facebook to find out what their friends are up to, not to connect with their favorite brand of gasoline or paper towel. The only way to succeed is to be as interesting and relevant to your customers as their friends are--a tough task, to be sure. Better yet, get friends talking to each other about your brand.
4. Just because surveys show people friend and follow brands to get discounts and deals does not mean you must consistently offer them. Unless you really want to build relationships based on constant discounting and reduced margins, find a different way to be appealing and use discounts sparingly and strategically.
5. When a person follows your brand on Facebook, that does not mean they are going to see everything your brand posts. In fact, they may see little to nothing from your brand. Sorry, that is just the way Facebook's EdgeRank works. (If you do not know EdgeRank, learn about it.)
6. The same thing applies on Twitter. As people follow more people, they pay less attention to their raw tweet stream and focus instead on lists of friends and peers. If your brand wants to be added to customers' lists, it needs to earn its way there--which is much tougher and more important than merely earning the follow in the first place.
7. There is not and never will be a template for social media success. Stop obsessing about finding best practices and work harder to test and create your own.
8. You are not being social if you ignore questions and service requests on your wall and in tweets while posting your key marketing and PR messages into social networks. That's just old broadcast mentality pasted into the new social medium, and it will fail.
9. Speed matters like never before. Customer service issues can turn into PR crises in hours--this morning's Facebook post is this afternoon's Change.org petition. You cannot control it, and trying to create layers of approval processes will only exacerbate the situation. The only solution is to prepare and empower employees to act with greater alacrity and independence.
10. Your organization's Facebook and Twitter administrators are probably talking to more customers, more often with more impact than the vast majority of your firm's executives.
11. People will complain about your brand. Don't freak out over a single complaint (unless it is from a truly influential person).
12. While you shouldn't freak out over a single complaint, you should be very concerned about many complaints. The constant flow of brand gripes can become background noise to decision makers. Do not allow this to happen, because death by a thousand cuts is still death.
13. Social media is not primarily a direct marketing channel. Do not measure it like it is or you will undermine the most powerful strategies that build brands and relationships.
14. Every company worries about detractors in social media. That's good, but they should be more worried about employees in social media.
15. Putting content or functions within a Facebook tab is the Web 2.0 version of the Web 1.0 axiom, "Build it and they won't come." No one visits your tabs--if you want people there, you need to promote the feature and make it very, very, very engaging and sticky.
16. Ralph Waldo Emerson furnished the best social media advice you can possibly get: "Who you are is speaking so loudly that I can't hear what you're saying." To succeed in social media, worry less about what you are saying and more about what your actions say.
17. If you do anything that rewards disinterested people for liking your brand--such as giving away a freebie in a social game or an entry into a sweepstakes that attracts people outside your target audience--you're doing social media wrong. Collecting people with no relation to your brand can actually hurt your social media opportunities rather than help them.
18. If you do not understand the FTC's and NLRB's guidance on social media, you are putting your company at reputation, legal and regulatory risk.
19. Do not jump into a new social property just because it's the flavor of the day. Pinterest, for example, will change the world for some brands, but not all. Knowing YOUR audience's habits and needs is vital; embracing this month's hot new social property is not. 
20. You cannot stop employees from accessing social networks from work--they all carry their social networks with them in their pockets.
    
    

Read the full list here...