I love social media, I use a great deal and basically have everything tied together, my Facebook, Twitter and blogs all feed into each other. I'm a huge fan of Facebook and think it's a fantastic place to help market your business.
While I am struggling to invest my time in the right places when it comes to social media some of the best advice I came across can be found at marketingsherpa.com by following http://www.marketingsherpa.com/article.php?ident=30946&pop=no . You can choose to register or simply click on no thanks take me to marketingsherpa and you will be given access to the article 'Generate Leads with Social Media Strategy: 6 steps to fill up sales funnel.
Sorry, I have no plan. I flit from one to the other based on what the folks I'm interested in at the moment seem to be using. When you find the answer I'm all hears.
If there is work to do, social media falls by the wayside. Otherwise, I spend good chunk of time checking my social media sites, just to keep up with what's going on.
I mostly hang around twitter and pay visits to the other sites.
For me, when I position myself to be part of a conversation, it's easier and takes less time to manage. When I have to dig for a reason to participate, it usually ends badly and I find that it consumes too much time.
[The lesson I've learned is that like-minded folks who are participating in a group rarely generate great value. It's only when opposing views (big thinking) enter the conversation does value follow. Civil discourse is awesome!]