By now I am hopeful you realize the utility of social media tools. You should also be aware of the challenges. Managing various lines of communication requires a plan and staff. The size of the staff will vary depending on the size of the organization and the goals of the effort. A staff of 1-10 should be able to manage the successful use of social media and web 2.0 tools. Scare you? If you want to do it right you are going to have to invest in it. The question becomes how far do you want to go? Do you want to participate everywhere or in just a few places? Don’t forget; not all of your constituents use social media tools- yet. You will still need to use some of the traditional means for a time. Similar to the reason you kept the fax machine even though most of your work is done via email.
The success of your use of social media tools will ultimately come down to people. A good summary of the types of people can be read here. I would add strong written communication skills (obvious reasons), crisis management, and a broad knowledge of the organization being represented.