This document discusses the rise of social media and its impact on marketing and branding. It explains that social media is simultaneously reinventing traditional media like radio, newspapers and television. It states that with social media, advertising and marketing have completely changed. The document advises companies to start by listening to social media conversations, then add value to their communities by engaging on blogs and with influencers. It suggests companies treat blogs like traditional media but don't send press releases. The document also discusses potential returns on investment from social media, including increased search traffic, lower marketing costs, and stronger brands and loyalty through word-of-mouth promotion.