This might seem somewhat counterintuitive, especially since these 'other related blogs' typically may be those run by competitors. Discretion should be exercised, of course. I wouldn't post on McAfee's blog if I were with Symantec, for example. However, it should be noted that users with a particular interest or profession tend to visit blogs with a similar focus. So if you're running a business dealing with camera equipment, it might be a good idea to link up with sites that cater to the needs of camera enthusiasts, or those offering supporting services.
There is no set template or formula to creating a social media strategy; the correct approach depends very much on the products and services sold by your company, as well as your objectives. With this in mind, our Paul Mah cut straight to the common denominators -- the truths about social media. For more on how to make the effort meet your company’s objectives, check out Paul's accompanying blog, Propel Your SMB Forward Using Social Media.