Is your business devoting resources to blog monitoring and blog response?  If not, you should.  According to Jaffe Juice blog, one of the Top Ten Alternative Marketing Trends for 2007 is blog monitoring.  The article quotes Drew Nessier who is the CEO of Renegade Marketing

Nessier says, "In 2007 marketers will enhance their ability to defend against potentially ruinous blog attacks by dedicating resources to blog monitoring and blog response. The role of Blog Monitor will finally become a full time position in the communications department, as opposed to the occasional activity of a lone blog enthusiast. In addition to tracking blog noise, the Blog Monitor will actively engage other bloggers, correcting untruths and responding to issues as they arise. Corporate blogs will also be an important defensive weapon, assuming the authors are empowered to tell the truth (even if that means admitting a product’s shortcomings)."

I agree.  With more and more blogs coming online it is critical for all companies, large and small, to monitor blogs regarding their products and services.  If your company has a blog it is also important to see who is linking to you and talking about you.  If you are a small company you do not need a full-time employee in a communications department to monitor blogs.  Through the use of RSS feeds you can effectively develop your own system to monitor the blog noise about your company for little or no cost.

What if your business is involved in high profile litigation?  If so, monitoring blogs is an absolutely necessity.  I believe communicating with bloggers is just as important as communicating with the traditional media and may provide even better PR if you do it right.