In the last 12 months, social media clearly moved from the wings to the main stage. Obama got himself elected thanks to YouTube and Twitter. Ashton, Oprah, Lance and Ellen “legitimized” the latter with their pursuit of a million followers each. And despite its obvious envy at the growth and success of new digital platforms, old media made social media the front-page story on a weekly basis.

But 2010 looks like the year social media could actually start to play the leading role. Consider Pepsi. After 23 consecutive years of advertising on the Superbowl Pepsi has made a statement that the broadcast media event of the year just doesn’t matter as much as it once did. Instead the soft drink behemoth will launch an effort that funnels $20 million into community projects spearheaded by consumers trying to “refresh” the future.

Pepsi plans to solicit worthy causes from its community, crowdsource decisions for which ones to support, and fund them with between $5000 and $250,000 grants. Presumably Pepsi will build awareness, encourage conversation, listen and engage via a platform that unites its website, its Twitter feed, and its Facebook fan page.  Not to mention all the online content generated by the program’s participants.

In case it’s not obvious, this isn’t about bailing on the Superbowl.  It’s about embracing social media and understanding that when it comes to brands and products, customers now depend on each other to connect, share, learn and discover.

The trends couldn’t be more obvious. We all want to participate, if not by actually creating our own content, then certainly by commenting and sharing links.

We have new and complex media habits. (Remember the CNN/Facebook Inauguration?) Were we watching? Or creating, sharing and connecting?  Were we leaning back?  Or leaning in?

We’re tired of doing business with faceless brands. (Think Tony Hsieh of Zappos.) What better venue than social media for a brand to act like a person – honest, open, transparent, accessible? Look what Dominos just did after its huge fiasco earlier in the year.

The list of reasons to wholeheartedly embrace social media is long.  Tracking conversation on blogs and Twitter lowers your cost of research. Converting your site to include a blog and generating helpful content improves your organic search, especially with Google’s new emphasis on real time results. Developing relationships with bloggers and influencers in addition to the traditional press enhances word-of-mouth. The practice of crowdsourcing, even if it doesn’t yield a great idea, offers you invaluable customer insight. And finally, according to Ben Kunz, director of strategic planning at Media Associates, done right, social media makes financial sense. Even when you’re using old media metrics. Ben’s analysis of Pepsi’s investment predicts 200 million impressions, more than twice what its Superbowl buy would yield.

But the real reason to embrace social media is this. Your customers are there now, waiting for you. And the sooner you show up with the right kind of content and contribution the sooner you’ll reap the rewards.

Will 2010 become the year of social media for you and your clients?

About Edward Boches

Edward is the Chief Creative Officer and Chief Social Media Officer at Mullen, a modern advertising agency based in Boston. He also writes about new ways to engage, inspire and motivate consumers at Creativity Unbound. Be sure to follow his musings and insight @edwardboches on Twitter.