SocialSphere, Inc.

There's been a fair amount of buzz over the last few weeks about Pepsi abandoning their expected 2010 Super Bowl ad in favor of a $20 million investment in social media and community building. Social media mavens are applauding the move -- and so far, we do as well. Over the last few years, we've told anyone who'd listen that for the cost of one Super Bowl ad, a Fortune 100 company could fund a social media campaign for a year. Pepsi is doing us one better, not only are they making a statement about old versus new media -- but they're also investing in what their customers (Millennials) care about -- giving back and helping their community.

As part of this effort, Pepsi is launching the Refresh Everything Project which is asking for 1,000 new ideas a month from any person or business wishing to give back to their community. With awards ranging from $5,000 to $250,000 -- good things are bound to happen in communities of need -- and Pepsi is likely to garner more than that in good PR. A huge win-win for everyone.

At the end of the day, this isn't even a gamble. Not doing anything is a gamble when Pepsi sales have been in decline for years -- and according to ABC News/Money in 2009 alone volume declined 6 percent in each of the first three quarters of 2009, net revenue dropped 12 percent in the first quarter and 9 percent in the second and third quarters.

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