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Surprise! Making Customers Happy Is a Key Benefit Of Web 2.0

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Last week, McKinsey issued a new report about Web 2.0 technologies* and how they benefit the organizations that adopt them. Contained within the report was a minor nugget that should be of major importance: making customers happy is of huge importance!


The key finding in the report (available for free download) was 69 percent of respondents reporting a gain of "measurable business benefits" from Web 2.0.
In addition, more than half (52 percent) of respondents indicated their key customer-related purpose for Web 2.0 was "increasing effectiveness of marketing." That's really not all that much of a surprise. What is surprising (and wonderful) to see was 43 percent indicating "increasing customer satisfaction" and 32 percent saying "reducing support costs" as their key purposes for investing in Web 2.0.
Re-read that again: 43 percent indicated "increasing customer satisfaction" and 32 percent indicated "reducing support costs" were their key purposes for investing in Web 2.0.
Net-net, that means that MAKING THE CUSTOMER HAPPY was behind two of the top four reasons for adopting Web 2.0! I say this with no sense of snark or irony. This is a remarkable turn of events, and one that I am glad to see being reported by such an august institution as McKinsey.
After so many years of "us first" marketing, I'm thrilled to see "customers first" taking priority. Now don't get me wrong. I'm not naive and still think we still have a ways to go ("increasing marketing effectiveness" was first, after all). But I believe this is indeed something worth celebrating.
What do you think? Is this a true groundswell toward customer-centric marketing or merely a momentary blip?

* Without getting into an arcane debate, Web 2.0 was used in the report but connotes "social media."


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With his mantra “it’s about the people, not the technology,” Michael E. Rubin serves as the Social Media Strategist for Fifth Third Bank. As one of the first employees of the Word of Mouth Marketing Association (WOMMA) and the Social Media Business Council, Michael has made his career helping Fortune 500 brands put Social Media to work.

With more than ten years experience in marketing and PR, Michael has partnered with the world’s leading marketers and industry experts to develop Social Media and Word-Of-Mouth into a mainstream marketing disciplines.

Michael serves on the Advisory Committee of the Institute for Social Media at Cincinnati State University, and has lectured on social media at both the University of Cincinnati College of Business and Leadership Northern Kentucky. He resides in Cincinnati with his wife Pam, dog Ruby, and cat Chainsaw (long story). Last but not least, Michael remains a die-hard Chicago Cubs fan and proudly eat hot dogs with ketchup.

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Michael E. Rubin
Call me: 847-370-3421
Email me: merubin@gmail.com
Tweet me: http://twitter.com/merubin
Start here --> http://flavors.me/merubin75

The views expressed in this post are my own and not those of Fifth Third Bank or any of its affiliates or subsidiaries or of any person or organization affiliated with or doing business with Fifth Third Bank.

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Comments

  • by Elaine Fogel Mon Sep 21, 2009 via blog

    It's a great start, Michael. It would be interesting to see results according to company size. My guess is that most respondents work for larger companies.

  • by Strategic Growth Advisors Mon Sep 21, 2009 via blog

    This is one innovation that could revolutionize how we do business online in the near future. Give or take a couple of months or so, I guess this will be another "norm" every online marketer should have.

  • by Virtual Server Fri Oct 2, 2009 via blog

    Good post.Really this is a great news for all large company.Thanks for sharing such a cool post with us.Keep posting.

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