FT article encourages businesses to plug in to ‘critical’ web 2.0 transformation
We are naturally grateful for the articles in the FT which are acting as cheerleaders for social media and web 2.0 (!) – and another important feature was published by the paper last week.
A couple of business professors argued that business is being transformed by web 2.0 (social media) technologies:
‘…the basic model of customer contact and marketing is being transformed by online advertising and web 2.0 technologies, whereby companies move away from directly influencing their customers and towards either reacting to their customers’ electronic intent, or mediating the influence that consumers have on one another…..As customer preferences evolve in reaction to the recession, acquiring intelligence through aggressive web 2.0 investment strategy is critical….
‘Curbing spending with a short term focus will eventually cost more than it saves, while IT investments based on an intelligent framework could generate long-term gain.’
As an example, the professors point out that consumers of video entertainment are turning to video entertainment that is exclusively internet-based which has massive ramifications for traditional corporate advertising and PR
The professors conclude: ‘These turbulent economic times present new opportunities for companies that invest wisely in information technologies, and new threats for those without a sufficiently forward-looking IT investment strategy.’
It is clear that companies with strict firewall policies that prevent communications teams from even seeing what their audiences are saying on key blogs and social media communities and networks are potentially disabling the chances of that company succeeding in this new environment.
Of course lots of agencies are going to be banging on the doors of companies about web 2.0 and social media. It is crucial though to get strategies right so these new social media/web 2.0 technologies are used effectively.
