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If you are too lazy - and I know my audience well :P - basically do this:

1. get involved, read what's out there, source top bloggers, forums, bulletin boards, Twitterers, Digg fanatics and Facebook discussion groups - read and understand them.
2. create - or better yet, find - social media assets you didn't know you already had. Powerpoint presentations from the shareholder meeting? Put 'em up on slideshare. FAQ's and Customer Service Tip sheets? Put them in a wiki or a blog post. That sort of thing. Don't waste money on made-for-web 'viral' crap. It's useful, not buzzy stuff that social media wants.
3. Discuss - any campaign you create that is not discussed in social networks, doesn't exist.Make sure the tools for discussion exist, don't lock it down with pre-moderation and pdfs.
   
4. Promote - use distribution, not content networks for promotion. That would be Facebook, Digg and the like (you can't blog on those sites, they are not for Citizen Journalist, but for Citizen Editor). Better still, offer widgets for customer to customer promotion.
   
5. Measure, analyse, get your metrics. Which ones are meaningful? A top blogger blogging or a Facebook group discussing? Hits to

TechNation Australia is a technology news, review and analysis site with a focus on startups and Internet companies related to Australia.

That might include a local startup taking the plunge in Melbourne, an Aussie making waves overseas or even big players doing their thing down under. If it’s to do with technology and Australia then we’re on it.