I believe social media marketing, or social media engagement in a corporate setting comes down to four processes, 1. Listen, 2. Triage, 3. Action, 4. Quality control.
Which can be defined:
1. Listen - The company monitors the wider community using social media monitoring tools, setting up alerts, and the resources and people to cover the company 24/7.
2. Triage - Each threat or opportunity is reviewed and triaged. One considered there is a process in place to either pass an incident onto to someone within the company, or take no action.
3. Action - The responsible person and department within the company takes some sort of action.
4. Quality Control - The central social media team, also responsible for listening and triage, takes care of QC, they make sure there was an action taken, and response given back to customers, vendors, analyst and journalists.