Has it ever occurred to you why we are studying History? Why should we when they are part of the past and we are the present?

…so that we will not commit the same mistakes that ‘History’ made in the past.

Then I suggest in light of this statement that marketers or any big companies should be aware of Web 2.0, social media and social network histories. Why? For it may cost them millions if they do not.

PepsiCo’s spent $35 million for its redesign and change of Tropicana Orange juice package; just to revert back to the old design due to the clamor of few loyal customers of Tropicana. The company has undermined the power of communication in Social Networks. When the company decided to change the old design of straw-in-an-orange into something new, it enraged consumers had made known their displeasure in the blogosphere. And it all started here IN THE WEB.

And another news breaker is the New Terms and Conditions of the popular social network in the world: Facebook. This social network reverted to the old terms and conditions when users and media protested thus creating a firestorm of reactions on its new terms and conditions.

Twitter is another social network always on the headline. Its first became a headline when users of twitter used it to relate events of Mumbai attacks. News and first hand stories and experiences, and pictures were tweeted in this social network before the news reporter and media got hand of it. Another hot issue is when Congressman Pete Hoekstra made known to the world that the congressional delegates had just arrived in Iraq which also received it own spotlight in the front page.

Some of the examples above are just a few of the “history” that cost them bad publicity, first hand news, or million dollars even lives. So, a smart company should have a consultant with a grasp of the Web 2.0.

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