So lets simplify the question.. into many questions..

• Does your company have a website? Do customers/employees/suppliers visit your website?
• Does your company engage in any kind of (small or big) market research?
• Does your company interact with customers regularly? (Once a day, week, month on phone, email, chat?)
• Does your company have employee that are widely dispersed? (i.e. you have multiple branches across the country coordinating with each other?)

If your answer to any of the above questions is YES then your company needs a web 2.0 strategy in place!

Here is what a web 2.0 strategy means and what it can do for your company..

Web 2.0 is all about individuals creating conversations using Web-based platforms that connect them through enhanced interaction, collective content creation and shared expertise. Hence whether its a corporate blog or a online employee network/community/wiki or an online community of your customers it all falls under web 2.0.

Internationally the Web 2.0 techniques that businesses are experimenting with are RSS feeds, podcasts, wikis, blogs and social networks as these Web 2.0 tools can be extremely powerful in engaging your customers/partners/ suppliers/employees. Individually, they also provide utility that can help grow the connection you’re making with your customers.

One does this by evaluating the needs, wants, demographic and other details of ones customers and also what brings them to use your products or brands. Once the common aspect among them is figured out (the common aspect could be either linked or independant to your product) you can start building your customers into a community which does the following..

• Free feedback both negative and positive i.e. Market Research
• Engages in future ideation for your products i.e. Product development
• Recommends you to other new customers i.e. Word of mouth marketing
• Free content for you around your brand i.e. Brand communication
• Gives you information on competition i.e. Competitor Analysis

The same method could be applied to bothe employees and other partners and the value derived through web 2.0 collaboration would bring great business benefits.

For those companies in internet businesses its even more imperative to look at a web 2.0 strategy this is because you mode of business itself is through the online medium thereby making your users much more receptive to online platforms and their use. Hence online businesses can derive a higher adoption rate to their web 2.0 initiatives and can see them bringing value instantly.

How is Web 2.0 changing businesses?

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