There is a lot of talk about consumer generated content (CGM) these days with the rise of YouTube, blogs, podcasts, review sites, crowdsourcing and more. Today, Radical Trust asked a question that I've also been struggling with a lot lately:
Shouldn't the phrase be Consumer Generated Profit?
Social media and CGM are powerful. They can help companies and brands (and your fortunes as marketers) rise and fall. But a lot of companies are seeking to take from their consumers, customers and users without giving much back.
That is a potent reputation for disaster because nothing, I mean nothing, can take down a company faster than a crowd of angry customers.
Should you embrace social media? Yes. Should you tread carefully? Double Yes.
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