Web 2.0 Media Use in Business

A new report just came out that talks about how new media and web 2.0 technologies are permeating the business environment. It is interesting to note that these technologies didn’t even exist 5 years ago. However, according to a new report released by Awareness (via Marketing Charts) titled “Trends in Adopting Web 2.0 for the Enterprise in 2007“, more than half (54%) of enterprise-size organizations use Web 2.0 technologies and an astonishing 74% of companies with fewer than 500 employees.

While Web 2.0 technologies have had several hiccups along the road to adoption, this study show that they are clearly past the tipping point, chasm, ignition point, or whatever other marketing analogy you want to use. The simple fact is people are using the technology and using it effectively.

The study goes on to say that 96% of those surveyed say all Web 2.0 technologies they’ve used have been successful with 83% reporting no clear failures. What? According to the critics, these were great for hobbyists but they had no real business value. I think we are starting to see otherwise.

The biggest obstacle to implementation? Most say limited internal resources. Part of this comes down to the fact that most companies are used to paying someone to place ads, run trade shows, or design cool brochures. However, new media, or Web 2.0 technologies, are engagement tools that require your personal time and attention.

The last tidbit of info I will share with you are the benefits of external-facing social media. The top 3 are:

  • Increased customer engagement: 68%
  • Increased brand awareness & loyalty: 64%
  • Effective market research: 58%

I hate to be “Mr. I-Told-You-So”, but the facts are clear. Web 2.0 is becoming pervasive in business. It increases awareness, engagement, and loyalty with your customers. It provides an effective feedback mechanism on your company and its products and services. Last of all, it is a powerful tool in your marketing arsenal. You simply can’t get a better return on investment for your marketing efforts. Combined with other marketing tactics, Web 2.0 tools can change the way you interact with your customers.

I encourage you to read the report.

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2 thoughts on “Web 2.0 Media Use in Business

  1. Hello, Guys! I have been looking for a while for information concerning the implication of web 2.0 into contemporary business practices.

    So I stumbled across your post and since I am really interested in reading this report I tried to. But it turns out that there is some kind of a problem with the website behind the link.

    I hope that the problem will be solved, but I would like to ask you, if it is possible, to send me a copy of the report or just to give me an advice how to reach it.

    Thank you very much in advance!

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