Before you move some of your surviving budget into a spiffy new social-media campaign and give up control of your brand to "the conversation," consider that you might be replacing your old-fashioned, excruciatingly commercial marketing with newfangled irrelevant nonsense. At least that's what I get from the Edelman 2010 Trust Barometer, which found that only 25% of people it polled see friends and peers as credible sources of consumer and business information (that's a decline of nearly 50% since 2008). Folks also think less of their peers as credible spokespeople. Should these findings cause worry for the almost four out of five companies planning to take TV ad money and put it into social?
One of the most enduring lessons for marketers from the Tiger Woods scandal is that, no matter how attractive celebrity spokespeople may seem, they're only human. When accusations about Woods cheating on his wife came to light, things got tricky for companies like PepsiCo, Procter & Gamble and Accenture that had spent millions of dollars on ads featuring the golfer.