Web 2.0 Swan Song?

If you are reading this post you likely already understand that social media is “game changing”. The challenge ahead is to make this case to seasoned decision makers in boardrooms globally.

Perhaps it is because I watched as the public relations profession worked over the last 20 years to attempt to tune the corporation into being more socially motivated. Perhaps it is the lingering fear of the first Internet bubble. But every time I read a blog post about what is better Twitter or Plurk or see a debate raging about whether one has to be a blogger to “get” social media, I hear Johnny Depp as Hunter S. Thompson and this song in my head (sorry – not every time and minus the first 51 seconds, heh, heh).

I don’t want this second wave of the internet coming to crest before crashing through the boardroom door. The prospect of changing the dialog about Web 2.0 and social media is what prompted me to start down the the path of writing “Introducing Social Capital Value Add” last May.

SCVA is a management method rooted in accepted financial theory that connects the pioneering intellectual enterprises of social capital and social network analysis to value based management and the priorities of marketers. SCVA proposes that we establish the link between social media and corporate valuation, in a way similar to the connection made between brand and corporate value in the late 1980s.

Investors and managers need to access the risks to future earnings and stock value associated with social media. When we evangelize Web 2.0 and social media in these terms … risk, future earnings and stock value … the focus will change from saving a few thousand dollars on a web campaign and the quest for that elusive viral story. This is the opportunity to stress the commitment, investment and special management methods required to develop the social capital that underwrites long term success in the networked age.

Over the last month many people have joined in to support the idea of “Introducing Social Capital Value Add” at www.changethis.com/proposals. Thank you very much. It is not over yet. Voting closes sometime, probably end of day, June 19th. It might not come together tomorrow.

UPDATE 1:  Social Capital Value Add ended up being the 8th most demanded proposal in ChangeThis history and it was published in September 2008 as a ChangeThis manifesto along with new releases from Seth Godin, Jonathan Salem Baskin & Harvard Change expert John Kotter.

UPDATE 2: In March 2009, SCVA was a finalist among almost 400 entries from 48 countries in Ashoka’s The Power of Us: Reimagine Media competition.

The odds are against this prospect of changing the dialog. I must admit though, the process of engaging as many people as I can about these issues and the response has been inspiring.

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5 Responses to “Web 2.0 Swan Song?”

  1. Kim Patrick Kobza Says:

    Very strong post.

    Running in parallel, maybe not quite as articulate. But similar theme. See. http://web.mac.com/kpkobza/Inflection_/_Enterprise_Social_Networks__Social_Media_Engagement/Entries/2008/6/22_Web_2.0_going…._going…….html

    Web 2.o has served its purpose – it has created an expectation of interaction on the part of consumers, partners, employees, and citizens. But the Web 2.0 paradigm is changing – and fast, as engagement is now becoming a part of business and organizational processes.

    In “the bowling alley” described by Paul Weiffels in the Chasm Companion, business and public sector organizations are requiring clear measurement and well defined purpose. They are finding that purpose and apparent value by leveraging their own pre-existing networks – networks that it took them many years to build.

    Existing organizations are starting to understand that Web 2.o is simply about connecting people in a variety of ways, something that they have done for years. So what are commonly referred to as Web 2.0 tools are actually enabling technologies and methods to energize existing networks and to build new ones. ……. See post for rest.

    This type of intellectual leadership is very important for proper allocation of resources, and orientation of industry.

  2. Michael Cayley Says:

    Thanks Kim – I had a listen to your podcast but couldn’t leave a comment for some reason?

    It sounds like SuperNova2008 was great.

    Thanks for the comment here too.
    mc

  3. SCVA Visual Presentation is Much Needed | Social Capital Value Add Says:

    […] beyond marketing circles and this need was again surfaced.  (Side Note: Jay, I keep hearing the Web 2.0 Swan Song too.) It has been echoed in conversations with Rochelle Grayson at Donat Group and Joe […]

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    […] point has not only not been reached, but could still tilt away from social media.”   Web 2.0 Swan Song? captures the fear that I have expressed along these lines and a call to change how we frame social […]

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    […] Any so-called social media expert can help stop the Web 2.0 Swan Song. […]

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