This document discusses digital strategy and social media in the context of a "perfect storm" of digitization and user creation. It presents a framework with four quadrants based on whether production is done by professionals or non-professionals and whether the economy is physical or digital. Examples are given of how traditional companies can adapt their communication strategies to this new digital landscape by choosing the right platforms, speaking the language of those platforms, and making their products and messages more interesting. The document concludes by discussing five types of customer involvement that companies can enable through social media initiatives.