How companies are benefiting from Web 2.0 – McKinsey

McK web 2.0McKinsey & Company, who are one of the worlds foremost business consulting firms, have just released their latest Web 2.0 Survey.  McKinsey who have been the trusted advisors to leaders of companies, governments, and institutions around the world for more than 80 years, aim to help our clients address their most important challenges and opportunities.

In doing this they regularly conduct surveys and analyse business trends across a variety of areas.

For the past three years they have been focusing on Web 2.0 and its application within business large and small. The first two surveys focused on how business was using Web 2.0 and now the latest survey is titled “How companies are benefiting from Web 2.0”.

As a member of the panel that has been taking part in the surveying for the past few montHs I have been sent a pre release copy of the report.  Whilst my confidentiality agreement prevents me from sharing the full report or any great detail with you I can provide a few snippets that will encourage to get a full copy when it is released shortly.

Overall the survey showed

“The heaviest users of Web 2.0  applications are also enjoying benefits such as increased knpwledge sharing and more effective marketing. These benefits often having a measurable effect on business.”

“Half of the respondents report that Web 2.0 technologies have fostered in-compnay interactions across geographic borders.”

“Over half the companies in the survey plan to increase investments in Web 2.0”

“Satisfaction with Web 2.0 was high among all users”

Social Media Marketing – Its about Engagment

In Lois Kelly – Keeping it simple social_media_marketing_campaign I posted a diagram by one of my favorite author’s Lois Kelly which simply showed what Social Media was all about.

Today I am using a diagram by one of my favorite Aussie Bloggers Laurel Papworth and Gary Hayes, which still keeps it simple but extends the reach and breadth of Social Media Marketing.

But it does highlight that a full Campaign has one key objective reaching the target cost effectively.

In our Grumpy Old Managers Guide to Social Media Marketing we keep it simple to get people started. Build a profile in all the right places and submit content to get noticed by Search Engines etc .

But as the diagram shows the landscape is broader and in addition it is in a state of constant change. Content on Social media sites changes constantly and is an area that a Social Marketer must pay close attention to make sure they keep up.

Whilst getting noticed by search engines and rating well in Google is still a real key the prime objective of the Social Media Campaign is much more and requires more time and effort to be effective.

A major focus is on the building of a community of Followers, Supporters, Evangelists … a Tribe as Seth Godin Calls it . This can be done by becoming a contributor to other communities and helping them to build traffic and in return opening opportunities to engage with your consumers directly there.

socialmediamarketing

There are many benefits to a good Social Media presence and even more to a well crafted and implemented campaign as a recent survey shows the benefits are seen as far more extensive than traditional marketing.

What a Quirky idea

quirkyWe are constantly talking about how Web 2.0 etc can not only change business it can create entirely new business ideas. One such idea/business I have come across on the boardofinnovation.com site recently is Quirky – a social development community.

If you have an idea for a product or service you can subscribe to Quirky and submit your idea … allowing other subscribers to comment and give feedback (eg Branding, Design, Naming etc) on the idea.

Those who contribute ideas which are incorporated in the final product will share in 30% of the profit generated. Furthermore, once 500 Quirky users have pre-ordered the product, Quirky will produce and sell the product from its website.

Sounds like a great idea, assuming they can build a large membership base quickly. So if you have an idea or you just want to help others or you just love checking out the inventiveness of others and maybe make some money check it out…

But a word of warning from a scientist and innovator my friend Dr Jaroslav Boublik:

“Interesting idea. I can see some major issues with confidentiality so I’m not sure it would be a place I would want my ideas to be floated.”