What makes a good tonearm?

I'm entering the world of decent analog and believe I understand why the turntable design is critical (e.g., vibration isolation, balance and speed stability) but am scratching my head a little about tonearms. What makes a good tonearm good and a great tonearm great? The resulting sound is always the key, but what design characteristics contribute to that sound? Tonearms are a big investment and can be tough to change later so I'd like to understand more about them before I buy anything. Thanks in advance.