I thought this was an excellent quote by Yihong Ding, found in this RWW post about the value of Community Managers:

“As we know, most of the Web 2.0 companies are built upon user generated content. Philosophically, User Generated Content is embodied human mind. This embodied mind is generally the fundamental asset for the company. Maintaining a proper community so that users may embody their mind with high quality is thus a central issue for the growth of the company. The duty of community managers is to supervise and maintain the high-quality production of the fundamental mind asset used by the company. Therefore, I would say that community manager is a critical job title for most of the Web 2.0 companies.”

This holds true for any company, not just Web 2.0 companies.

Every company today needs to recognize this.  While user generated content may be a core component of many Web 2.0 companies’ business models, the conversation and “content” provided by a company’s users/customers is of the utmost value to all businesses.

Therefore, ensuring that it is sought after, provoked, nurtured and communicated appropriately and applied correctly is of immense importance.

Still not satisfied?

• Jeremiah Owyang created a score card that you can use to help you determine your need for a community manager.

• Connie Bensen also lists some good questions that you can ask yourself, to gauge your readiness to take the plunge.

I’ll give you one question: Who in YOUR company is responsible for listening and engaging your community?

If you have to think about it, you’re in trouble.  It’s time.