It’s consumer-generated ad time—and you, dear reader, are my consumer.

Yes, I’m proud to announce the first Derek Moore/DM News Festival of Consumer Generated Content about Consumer Generated Content. Or as I affectionately call it, “Agency Idol.”

It’s quite simple, and it doesn’t take any talent. Simply post your comments to AgencyIdol.com (details below) on what you think about this whole newfangled “consumer generated content” thang. I promise, you won’t be alone. At this writing, it’s reported that three different clients—Chevrolet, the NFL, and Doritos—are turning over the creation of their Super Bowl commercials to the public. Hence, my question du jour for all you aspiring bloggers: Will those three clients get their money’s worth?

They certainly seem confident. After all, you don’t bet $2.6 million on 30 seconds of airtime if you’re not. Some contend that fighting the camcorder-wielders is only fighting the inevitable, that it’s just our fear of losing control over brand image—control we already lost years ago. And as DM News’s own Mickey Khan has pointed out, if your customers love your brand enough to make it their own, why stop them?

On the other hand, if you’re looking for a sobering counterpoint, check out Alex Wipperfurth’s instant classic Brand Hijack. He warns that giant clients (yes, he names names) already are wimping out. While pretending to become “participatory” brands, they’re transparently clinging to control via tactics like limiting the subject areas of consumers’ blog postings. This is the worst choice they could make, because it simply makes them look like phonies.

Me? In my role as America’s Ad Coward, I feel strongly both ways. I think consumer generated content is not the way to launch a brand, especially a parity product that needs to be precisely defined. But it can be a way to add dimension to an existing one. As for those three Super Bowl sponsors, although you’ll know the outcome by the time you read this, I’ll make one prediction now: one of them could make a big splash, but all three won’t.

But who cares what I think? You’re the columnist now. So tap out your most eloquent commentary, then post it at AgencyIdol.com before February 13, 2007. (Reassurance: I’ve set up the site just for this occasion. Nobody there will offer you a home equity loan or tell you to “ask your doctor” about anything.) You will get the excitement and satisfaction of seeing your own views flashed around the World Wide Web. And as for me, I’ll get continued exposure for my name in this magazine, plus a charismatic stamp-size picture of myself over your submissions. Just the same kind of free publicity you’d be giving me if I were your favorite six-pack of Red Bull.