“How companies are benefitting from Web 2.0,” a report released by McKinsey in August 2009, adds to the body of evidence supporting Web 2.0 applications’ contributions to measurable business outcomes.
The report, which surveyed nearly 1,700 global executives, homed in on Web 2.0 deployment in three areas: internally, externally with consumers and in external dealings with suppliers, partners and other experts (see graph).
In terms of why Web 2.0 tools and applications continue to be of interest, 69% of respondents said that their companies have gained measurable business benefits, including:
• More innovative products and services
• More effective marketing
• Increased employee satisfaction
• Better access to knowledge
• Lower costs of doing business
• Higher revenues
As for the Web tools and platforms that have the most measurable benefits, video sharing topped the chart in the internal category (with 48% of respondents reporting at least one measurable benefit from using the technology), while blogging landed in the No. 1 spot for engaging customers and external partners/suppliers (both at 51%).
The implications of the findings are clear for communications executives: Web platforms are critical vehicles for conveying information to stakeholder groups and for engaging in the conversations that follow.
What’s more, these tools play a role in how these executives gather intelligence and research their stakeholders’ habits and preferences. Today, an intimate knowledge of their behaviors is necessary to building strong relationships that boost brands, reputations and, perhaps most compelling, bottom lines. PRN