I love what this article is saying (HBR - Is Marketing Dead) Although I still believe there is value in traditional marketing we all need to spend more time and focus on engaging in conversation with the consumer. Even today, when it comes to planning, digital (and the key components in engagement - social commerce/media & search) are carve outs of the "this is the way we did last year" budgeting process.
If we want to win we need find ways to engage our customers and, ultimately, turn them into evangelists. This starts with connecting with them when they put their hand up for help (the search) then giving them the information and tools so they can make the decision and share it out to their world (big or small).
This isn't easy nor is there a proven map to success but by focusing on being remarkable on everything you do (do not waste yours or the customers time ala +Seth Godin ) and partnering with people who under the social commerce tool set ( +Bazaarvoice ) you can get there much faster.
In the end this is not about having the most friends on Facebook or having the highest share of voice in the market but having honest, helpful conversations with your customers and if you treat them right and meet (or even better exceed) their needs you will have the pleasure of serving them again in the future. If you are lucky enough and you delight them at every step they may even bring their friends with them.