Today anyone can go online to voice their opinion. Increasingly these opinions transcend the online space and modify events. It was only a few months ago that an ad on Motrin's website offended mothers by comparing the carrying of children in baby slings to a fashion statement. Outraged mothers (and others) quickly jumped on Twitter, and their outrage spread to YouTube and blogs. Within days Motrin pulled their ad. Congratulations to social media for quickly bringing this to the attention of Motrin.
Last week Bloomberg reported that Blockbuster hired a firm that deals with bankruptcy. People on Twitter picked up this story and started Tweeting that Blockbuster was filing for bankruptcy. This went viral within a few moments and their stock fell to $0.17. Blockbuster put out a press release saying that they did hire the firm to help with capital initiatives, but reports of bankruptcy were entirely false.
Twitter is a rapid means of communication that is unfiltered. Anonymous people can say whatever they want without repercussions. When there is limited or no accountability, what measures are there to protect individual citizens and corporations from false, libelous or slanderous accusations?
As fact and opinion blur, the consequences to individual lives will increase. Will the next false viral rumor cripple a brand to a point from which it cannot recover? How many jobs will be lost over a fallacious statement? These concerns highlight the imperativeness of brands actively monitoring their perception in the blogosphere.
I love social technology. And I am happy to join the online conversation on behalf of Best Buy. Joining the conversation today is more important than ever for brands to survive and thrive in the world of Web 2.0.
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