Jeremiah Owyang's recent article prompted a tweet by Chris Wilson about my (and Rob Crissinger and Russ Florence's) thoughts. I will let you read the article and my thoughts are below (sorry, finished a construction job on the house and my mind can't communicate in 140 or less...).
http://www.web-strategist.com/blog/2009/03/29/future-of-pr-when-age...
As usual, I find Mr. Owyang's to be one the money... for the most part. I don't think he gives full service agencies, and the organizations (brands) they work with, enough credit to respond to the current climate and listen to interested/like-minded communities and give them what they want (product or otherwise). That being said, if they don't evolve then I see this business working very well. A little getting used to but no different than any business/information broker.
That being said, I do completely agree the role of pr is shifting but more toward his penultimate paragraph. In the near future, as the crowd grows a much larger voice, agencies have to take on the role of helping a brand's community communicate among each other. In the traditional model, pr helped brands communicate outward and assist in listening (not necessarily in that order). As sm reaches a critical mass the need for assistance in community communication facilitation will increase. Not every brand is lucky enough to have a self organized and highly communicative community. In this situation it is incumbent upon the brand/agency to step in and help these communities talk amongst each other to develop cohesive thoughts and ideas. The greatest value comes back to the brand which receives value from this information.
Like all business models, successful evolution is dictated by the survival of the fittest and most adaptable.
Other thoughts?