Companies reporting the heaviest use of Web 2.0 technologies—particularly those deploying them beyond their own corporate walls—are deriving the greatest value, including more-effective marketing, stronger collaboration, and increased market share, according to a study by The McKinsey Global Institute.
Two-thirds of surveyed business executives report using Web 2.0 technologies in their organizations, with 2010 adoption levels higher across most social channels, including the following:
- Social networking: 40%, up from 28% a year earlier
- Blogs: 38%, up from 32%
- Video sharing: 33%, up from 31%
- RSS feed: 30%, up from 28%
- Podcasting: 25%, up from 23%
Healthy future spending plans underscore the value companies expect to gain from Web 2.0: Nearly two-thirds of execs at companies using Web 2.0 tools and technologies plan to increase future investments in such technologies, compared with one-half who said so a year earlier.
Below, other findings from McKinsey's annual survey of corporate executives titled The Rise of the Networked Enterprise: Web 2.0 Finds its Payday.
Among execs at companies using at least one Web 2.0 technology, most report they are receiving measurable business benefits—with nearly nine in ten reporting at least one benefit.
Marketing-related Benefits of Web 2.0
Among companies using Web 2.0 for customers-related purposes, key benefits include the following:
- 63% report more effective marketing.
- 50% report increased customer satisfaction.
- 45% report reduced marketing costs.
- 25% cite increased revenue.