Social media is cited as a communication challenge by a mere seven per cent of communication directors, and less than 15 per cent seek social media skills in candidates.

These were two of the findings from the Business Leaders in Communications Study 2012 study published this week by VMA Group.

The study reported that fewer than half of communication directors believe that they have a major influence on board level strategic decision-making.”

These two sets of numbers are undoubtedly connected.

I’ve created a Storify summary of the launch event on Tuesday evening as told via the conversation on Twitter.

Respondents to the study have yet to recognise the role that social media increasing plays as part of the news agenda and the opportunity that is provides for organisations to engage with their audiences and participate directly in their markets.

Week-in-week-out corporate organisations take a reputational thrashing from the cocktail of traditional and social media week. This week it has been the turn of LA Fitness and McDonalds.

The start point for a comms director in understanding the developing media landscape should be a review of the role that social media plays in reputations, and the implication of all editorial content (conventional, social and their own branded) being shared socially.

In 2012 earned media, more commonly known as traditional media, is influenced as much by the professionals creating and publishing content as it is by those who consume media and respond instantly.

It’s not atypical for a media organisation such as The Guardian to publish three or four versions of a story as it develops, or to report it via live blog.

All forms of media have had to become social in a bid to remain relevant. Anyone with access to the Internet can create, edit, share and publish content to a global audience.

The media agenda is no longer neatly defined by the near 24 hour cycle of print. Instead it is set by individuals breaking stories via Facebook, Flickr, Google+ Twitter and YouTube.

The respondents to the VMA Group study have yet to identify with this shift. Simon Francis labelled them dinosaurs. I’m not going to be so harsh as I’d like the opportunity to sell them Speed’s services to help them through the process of understanding the new reputation landscape.

My view, Speed’s view, is that social media is returning the public relations industry to its roots of engagement in a two-way dialogue rather than a means of broadcast via the proxy of media relations.

It’s a journey back to the future of the industry defined by Eric Goldman, Edward Bernays and Ivy Lee.

Brave organisations have the opportunity to participate with their audiences via their own branded media and social media channels.

The opportunity for the PR industry is develop and understanding of the impact and interaction of owned, earned, and social media on an organisation’s reputation.

Measurement wasn’t raised as an issue during the VMA Group event. But herein is our greatest opportunity as communicators. Every action and interaction online leaves a digital footprint and provides a mechanism to measure results and take a step closer to proving return on investment.

If the PR and communications industry invested the effort in tackling these issues communications would command greater respect in the boardroom.

Thanks to VMA Group for investing in the report and organising a really excellent debate that will no doubt run and run.