The world of Social Media has completely exploded - it's hard to imagine that five or six years ago, no one had even heard of Facebook, and only birds tweeted.
Today, your presence in the social media is a critial addition to your corporate website. Social Media is such a massive platform - the reality is that your company will be in the social media whether you want it there or not - Social Media is the new Word of Mouth. Create a presence in the Social Media to give your customers a place to speak directly to you, rather than about you behind your back. This is especially critical for your unhappy customers... turning an unhappy customer into a brand evangelist is often a matter of how well you can communicate with them in the Social Media.