The Economist Intelligence Unit has just published an interesting report on corporate attitudes to Web2.0. Entitled, ‘Serious Business – Web 2.0 Goes Corporate’ it is the result of an online survey, conducted in January 2007, and follow up phone calls with 406 senior executives of large public Corporations on the relevance of web2.0 to their businesses.
Some Key Figures:
- 79% saw the potential for collaborative aspects of web 2.0 to increase profits and reduce costs
- 49% said it would impact on how employees interact with their companies and with one another
- 31% think it will affect all parts of business
- 60% either are, or plan to invite customers to contribute content about their products
- 47% either are, or plan to invite customers to help suggest or co-develop products
Some Key Quotes:
- “Web 2.0 is no longer bleeding edge, now it’s leading edge” – Harvey Koeppel, CIO and Senior VP CitiGroup’s Global Consumer Group
- “Blogging for example, is very effective from a marketing and branding standpoint” – Anthony Christie, Executive VP and Chief Marketing Officer, Global Crossing
- “You need to use Web2.0 to bring people together. We need these virtual spaces for our internal experts. Wikis work well, blogs work well and tagging puts a structure around it all” – Collen DeCourcy, Chief Experience Officer , J Walter Thompson
- “Internally we have started using wikis for knowledge management in large projects where there is lots of terminology or processes to be followed. Anything that helps collaboration helps us” – Harvey Koeppel, CIO and Senior VP CitiGroup’s Global Consumer Group
- “The Value is not on the delivery of knowledge, but in the alchemy of knowledge, in the ability to connect thoughts that weren’t previously connected. That’s why we need things like tagging, to connect previously unconnected ideas” – Collen DeCourcy, Chief Experience Officer , J Walter Thompson
This is a really good piece of research and shows the continuing trend of people realising that the opportunities that web 2.o throws up are too good to miss, even in business. Not only that but, both internally and externally, if you can build on communities that already exist and engage those communities you will benefit both culturally and almost certainly financially.