Umair continues to shine with his analysis of the economic shifts in value creation that are being brought on by networked communities. He always does a great job of explaining how (and why) old-school thinking leads to wrong strategic decisions that fail to meet current media and business challenges.
(Plus, it's probably good to have an economist's perspective on some of this stuff, it helps to balance out the reliance on too much right-brain thought/philosophy on social media ;)
Here, he takes on the M&C Saatchi "one-word equity" idea, and neatly summarizes why it's important to think about complexity and conversations in strategic thinking:
Brands don't need to be reduced to single words.
Reducing and deconstructing themselves into nothingness is exactly the strategic opposite of what next-gen marketing really will be about. Rather, marketers must learn to embrace - and manage - the complexity that happens as interactions at the edges of firms phase shift from thousands to billions. This complexity live in things like conversations, memes, bubbles and crashes, viral effects, network pressures, etc.
Put another way, the edgeconomy - the millions of markets, networks, and communities that are the edgeconomy - offer marketers the game-changing opportunity to bring brands to life, to build social and cultural institutions around them, to embed value creation into the very fabric of consumer behaviour itself.
What could be more powerful than that?