The Super Bowl has always been a big deal for my family. I’m sure that I’m not alone on that either. In fact, it is the only football game throughout the entire season that my mom will watch. Not only does she watch it, but the meal she cooks is based on the teams that are playing. As the Saints get closer to their big game Sunday, my mother is most likely digging through some old recipes, looking for her favorite jambalaya.

Clearly for many, the Super Bowl’s attraction lies in the new commercials aired during the game. This year though, with social media starting to hit its stride, will we see interest in watching the game wane? For example, Pepsi, one of the more notable companies that traditionally sprung big time for a Super Bowl ad campaign, has decidedly forfeited any airtime slots (costing between $2.5–3.0 million per ad). Instead, Pepsi has taken a liking to a social media campaign, “Pepsi Refresh,” in which they will give away $20 million in grants.

Nicole Bradley, a spokeswoman for Pepsi, explained why Pepsi wouldn’t be participating, “In 2010, each of our beverage brands has a strategy and marketing platform that will be less about a singular event and more about a movement.” The idea is to be bigger than the Super Bowl, while allowing consumers to still appreciate Pepsi.

While Pepsi may stand alone among the giants in replacing Super Bowl airtime with a social media event, for now, many companies seem to be tying the two together. Look for commercials this year to be far more interactive, with more calls to action that direct audiences to Facebook and Twitter. With all the ability to connect television campaigns and social networks, many companies will try to make their 30-second spot go viral, as well.

Vice president of global sales for Facebook, Mike Murphy, seems to be on the same page as Pepsi. He said, “Instead of getting 30 seconds to connect with their customers, they’re getting 30 days.” This seems to be what Pepsi understands as their new campaign does not involve Super Bowl airtime.

Is this just the beginning of big companies choosing to go with a social media campaign opposed to the Super Bowl commercials? Will Pepsi be a trendsetter or find themselves buying up valuable airtime next year? If this is the wave of the future, will casual fans who watch for the ads still look forward to the big game like they do now?

MicroArts Creative Agency is leveraging social media as part of overall branding campaigns like never before. It’s working for companies like World’s Best Cat Litter–products trying to break into and make a bigger impact in already noisy markets. We’re keen to see how the giants do it. Being big doesn’t necessarily translate to being nimble or even right. But it does mean we’ll begin to see some real dollars tossed into the arena.

We would love to hear your thoughts.