I'm participating in a panel discussion on social media today in Hong Kong, sponsored by MRM Worldwide. I've been doing quite a bit of research to understand the risks, rewards and strategies for brands considering social media as part of their marketing mix. Ultimately, I think the discussion is very similar to that of how campaigns become viral. Social media isn't worth much if impressions remain low; but it definitely becomes worth something (good, bad, unsure) once an element of it becomes viral.
My recommendation to brands is to get on Facebook, YouTube and Answers first and see where that takes you. And contrary to others, I do believe it's possible to dip your toe in the water with these platforms if you have the right person in charge of the campaigns. Social media is NOT the end-all-be-all; it's simply another part of the online marketing equation. So take it slow and steady and learn to walk before you consider running.
Below are some interesting clips for those interested in this topic:
Educated discussion on what went wrong with this campaign.
Another user submitted Tahoe commercial.
Facebook and Politicians
Social media's impact on Iranian election
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