Is content quality the most important component of a social media strategy

Rarely have I felt more compelled to want more information about something than I did when I watched this YouTube video from the makers of XBOX.  I have a Playstation 3 at home as well as a Nintendo Wie.  After I watched this video I felt like my systems were mere toys compared to what is coming from XBOX.

What really  makes this work is the time the creators had the luxury to exploit.  This video is more than three minutes long.   Three minutes of TV time is hugely expensive…and then it’s gone.  This video however stays up on YouTube as long as the creators care to leave it there.  Enormous efficiency.

However; there is one hitch to this deal.  Quality.  What you post to YouTube must absolutely rock & roll.  Either the presentation or the actual news itself has to be so good that people actually share it far & wide.  If you forget the quality…you might as well forget YouTube.

Which leads me to an interesting question.  Is content quality the most important component of a social media strategy?  I’d love to know what you think.