I don't need to start this post by linking to recent news or insights on other blogs. Everyone knows about Facebook's "Beacon problem." If not, go to Google News and type in Facebook.
Beneath all the rancor, recriminations and revisionism, I see a glimmer of something remarkable. Facebook, the unofficial beacon (pun intended) for social networking (actually social "utility" in FB parlance) is showing us how truly different this conversation economy is. The reason marketers have feared citizen journalism/social networking/social media is that transparency gives the power to the consumer. You can't spin or control things like the old days. Facebook, like any brand today, is at the mercy of a marketplace of people discovering "truths" collectively. It's basically marketing at the speed of "crowd wisdom."
As I'm writing this, Zuckerberg is apologizing for Beacon and is letting users remove it. How many Fortune 50 brands A). would we even have this much visibility into and B). would we force to capitulate this quickly? Very few indeed. The mighty crowd has spoken.
Yes, we can chastise Facebook and Zuckerberg, but I hate piling on. No sport there. I'd rather take the long view and see this as a harbinger of things to come. As a consumer I say, yipee, the crowd wisdom prevails. As a marketer I say, watch out, Facebook isn't a villain it's a beacon that lights the way.
Link to original post