Does social media add business value?

It is interesting that Ogilvy felt that they had to answer the question about what would social media actually do for businesses. I think that we’ve hit the trough of disillusionment with social media from a business point-of-view; partly because like other technology-based trends vendors tend to vastly over promise and grossly under-deliver – yes Oracle I am looking at you!

Now a new narrative needs to be wrapped around social media as its not going away, but expectations need to be recalibrated. The Ogilvy paper is on Slideshare which may not be visible to all viewers.