During a panel discussion entitled 'Social media: are publishers capitalising effectively?' Cramer said: "Traditional publishers need to get way beyond the novelty of social media."
"We need to avoid the 'We do the publishing and then we have a chat about it later on' situation. We need to integrate the two."
Prior to the discussion Cramer delivered a speech about maintaining integrity online, telling delegates Reuters was making social media "the place of first resort" when it came to news gathering.
But he said some parts of the industry are trying to "get their arms around social media in the wrong way".
"It's not about reading out tweets," Cramer said, adding the effect of social media had been profound and that it was here to stay.
The panel included Dave Panos, the chief operating officer of social media platform Pluck, Meg Pickard, head of social media development at Guardian News & Media, and Asha Oberoi, co-founder of short-form content producer Diagonal View and content director of ITN Source.
Panos said a key trend in recent years was how brands had turned to social media. "Brands are increasingly embracing social media. A few years ago they may have been afraid but now they are using it to generate engagement and drive traffic to their websites."
But he also said he had been shocked by the number of publishers who were not prepared to "direct" or "participate in the conversations" that are happening on their own websites. "We're all going to be unhappy with the results of social media if we're not prepared to programme it."
Other coverage from today's summit
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