Register for the Future of Business Media Conference in NYC in October.

The EconSM conference explores the dual questions of how social media is changing marketing—and how marketing is changing social media.

Never has there been a medium in which marketing and advertising could be so closely measured (or manipulated). Some advertisers are entering the world of social media on tiptoes, hoping to retain control in an era of no control. Others are intent on jumping into the deep end to see what happens. Many are looking for the right mix in between the two extremes. Whatever happens, one thing is for sure: You’ll never sell anything the same way again. Would you visit a tax preparer inside Second Life? At least one company hopes so.

The panelists are Simon Assaad, a founder and CEO of Heavy; John Battelle, chairman of the ad network Federated Media; Shawn Gold, SVP of MySpace; Rishad Tobaccowala, CEO of Denuo; and Tina Sharkey, Chairman and CEO of BabyCenter. Jimmy Gutterman is the moderator. The panel is a good mix of buyers and sellers, folks with old and new media backgrounds.