I can't give you a sure-fire formula for success, but I can give you a formula for failure: try to please everybody all the time.
Herbert Bayard Swope

A forum (or bulletin board) allows free-form discussions between your staff and your visitors. These work best where there is an established community of like-minded individuals with an interest in a particular topic - connected to your business. If such a community doesn’t already exist then starting a forum may be a risk - an empty forum doesn’t reflect well on your business.

But if you can gather a community of users to your forum you will benefit from a constant flow of new content that keeps bringing people back to your web-site.

Preferred applications:

SMF
Vanilla

Others to consider:

vBulletin, phpBB, punBB

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