The best justification I’ve heard so far for social media:
Social Media is like corporate reputation insurance. You pay premiums in the form of building relationships, listening, responding, creating widgets, and building communities. And because you’ve done so, you’ve earned protection that can help should a PR disaster strike—you have an existing group of people who have affinity for your brand and an existing channel in which to reach them.
From Forrester’s Interactive Marketing blog. http://bit.ly/9Q1biA
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