I really like Josh Bernoff's perspective on the term social media. See his article Why Social Media Sucks http://blogs.forrester.com/groundswell/2009/04/why-social-media-sucks.html
Otherwise, I also think instead of a new title we need to educate our CMOs to fulfill the executive leadership role and then empower the Social Web leadership role - whether VP, Director or Senior Manager.
Very interesting article and love the ideas and concepts.
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