Jeremiah Owyang is in my opinion, the best business analyst on social media strategy. Check out this short presentation.
http://www.slideshare.net/SmashSummit/jeremiahowyangaltimetersmash
Here’s a particularly interesting slide on how to decide whether to act in responses to customers social media messages:
Here are more interesting links by the same author below if you want to learn more.
Altimeter Report: The 18 Use Cases of Social CRM, The New Rules of Relationship Management
A Chronology of Brands that Got Punk’d by Social Media
http://www.web-strategist.com/blog/2008/05/02/a-chonology-of-brands-that-got-punkd-by-social-media/
And his twitter account: @jowyang