Media Post has an interesting short article from the Word of Mouth Marketing Association‘s annual meeting, which just concluded in Orlando. The convention was packed, apparently, with corporate marketers looking to leverage word of mouth to cut their media expenses. Case studies told of experiences with blogs and podcasts as alternatives to mainstream media. Representatives were there from “General Motors, Capital One, Buena Vista Pictures, Apple, Clorox, Deutsch, American Express, Nestle, Warner Bros. Music, Staples, Best Buy, P&G, Samsung, Prudential Financial, Fidelity, Hersey, and General Mills,” the story says. That’s quite a list.

The chilling observation for mainstream media companies is in this passage: “Marketers are pursuing WOM out of volition and ambition. While the media landscape becomes increasingly obfuscated, and media budgets in ALL channels are scrutinized, challenged and measured, WOM is suddenly irresistible for its ability to, in some small ways, displace advertising as a means of achieving the same customer goals.”

In other words, marketers are tired of being hog-tied by publishers and are welcoming community media as an alternative channel. This trend will happen regardless of whether media companies participate.

I believe that mainstream media can not only participate but prosper in the blogosphere. But they do need to first understand what’s going on. Participation is erratic now. It’s almost on a publication-by-publication basis. The first media companies that decide to invest in the market will get great leverage by being there early. Leadership is a wide-open proposition at this point.