Brian Solis was recently interviewed on the Marketing Voices podcast.

He gives some specific advice on how to get started and the tools you should be using.

His main idea:  this is not a marketing activity that can be done by observing. In order to be successful in social media you have to participate. 

Here are some of the key points for setting up a web content strategy in social media

1. Set up profiles on the social sites - FaceBook, Myspace, Flickr, LInkedIn etc.
2. Use these profiles to build up an embracive picture of who you are.
3. Listen to the conversations.
4. Create content - video is vital.
5. Share the content - post on social sites and link to other resources.
6. Share your interests and activities with others.
7. Engage and facilitate the conversations.