Savvy companies recognize the value of a strong community. Think of Nike and its community of runners, Nike+, and you'll quickly understand that creating and fostering an online community around a product or brand is a powerful way to boost marketing efforts, gain valuable insight into consumers, increase revenue, improve consumer loyalty, and enhance customer service efforts.

Companies now have the unprecedented opportunity to integrate their brand's messaging into the everyday lives of their target audiences. But while supporting the growth of online communities should be...