The development of Web. 2.0 technologies and rise of social media have taken most of us by surprise, marketers included, with the unexpected power shift and empowerment of consumers. The rise of social media and resulting power shift has turned the world upside down for marketers, requiring immediate adjustment to their mindsets, alteration of their strategies, and rethinking of their business approach to marketing.With the new interconnected era comes a new set of opportunities and challenges for marketers, which are to be examined shortly along with the areas in which marketers have experienced empowerment or disempowerment.