It is interesting to note that even after 3 years, Web2.0 still holds remarkable market traction and companies have gained significant business benefits, including more innovative products and services, more effective marketing, better access to knowledge, lower cost of doing business, and higher revenues.
A recent McKinsey Global Survey has further researched on how companies stand to benefit from Web 2.0 and this has revealed some notable facts. According to the report successful companies not only tightly integrate Web 2.0 technologies with the work flows of their employees but also create a “networked company,” linking themselves with customers and suppliers through the use of Web 2.0 tools.
Despite the market slowdown and recession, respondents have positively indicated that they will continue to invest in Web 2.0 technologies. A respondent size of over 1,500+ executives from the industry participated in this survey spanning from a variety of domains, industries and functional areas. They were asked about the value they have realized from their Web 2.0 deployments in three main areas: within their organizations; externally, in their relations with customers; and in their dealings with suppliers, partners, and outside experts.