Corporate executives need to re-frame their responsibilities to include the interests of all the stakeholders in society at large; not just shareholders, but also employees, the citizens of our communities, and those who care about the environment.

Not since the digital revolution in the early '90s has technology placed such a comprehensive burden on business, employees and individuals to reinvent their business plans, services and products, and themselves to keep pace with the changing marketplace.

Like all technology, social media is neutral but is best put to work in the service of building a better world.

A social contract is the way out of this dilemma for corporations that want to lead in the 21st century by showing consumers how seriously they take customer loyalty and goodwill.

For a truly effective social campaign, a brand needs to embrace the first principles of marketing, which involves brand definition and consistent storytelling.

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.

The advent of Google+ and the emergence of the personalized web means this is more true than ever. Brands, and their advertising partners, must wake up to this challenge and define themselves with clarity, consistency and authenticity. Otherwise they just might find themselves shouting in a ghost town.