This is a great video detailing how although CocaCola were slow to react to social communities, they're now implementing the right tools to benefit from being one of the most loved brands globally.
Interestingly rather than take control of social properties when given the chance, CocaCola instead look to embrace and empower the founders giving them all they need to continue leading a legitimate social tribe. By recruiting brand ambassadors who reside outside of the traditional mailing lists Coke are able to stimulate conversation across the Blogosphere.
Adam Brown - Digital Communications Director of CocaCola (starts 50 seconds in)
BlogWell New York Social Media Case Study: Coca-Cola, presented by Adam Brown from GasPedal on Vimeo.