In fact, I believe the first companies that make an effort to develop an authentic, transparent, and meaningful social contract with their fans and customers will turn out to be the ones that are the most successful in the future. While brands that refuse to make the effort will lose stature and customer loyalty.

Radical transparency has an enormous impact on our personal lives. We can no longer share thoughts, quips, photos or personal opinions anywhere on the web without being mindful that they may turn up where we least expect it (notably job interviews, divorce proceedings or public media).

Brands must be very specific in their choice of social media platforms through which to communicate their CSR or cause messaging.

Social media companies must combine their mastery of the latest in real-time, location based or augmented reality technologies in the service of clear and consistent storytelling.

Too many brands treat social media as a one way, broadcast channel, rather than a two-way dialogue through which emotional storytelling can be transferred.

Concerned consumers are realizing that they can use social media to organize themselves around shared values to start effective movements. Social media gives them a sounding board to share ideas, as well as a means to punish irresponsible corporate behaviors.

Social media is not about the exploitation of technology but service to community.