Web 2.0: Profiting from the threat

Web 2.0 — the second generation of web-based services and communities that emphasize online collaboration, networking and user-created content — is growing at a phenomenal pace. A recent Booz Allen Hamilton study shows just how prevalent this interactive consumer behavior has become and puts to rest any notion that social networkers are all 17-year-old boys or that “average people” don’t read Weblogs. The study found that 50% of all internet users frequent social media sites, and that more than half of the visitors to MySpace, the notoriously youth-oriented social networking site, are 25 or older. Among the many activities taking place on new technology platforms, such as blogs, wikis, podcasts and online communication pit stops, is one that should particularly pique the interest of corporate managers: More and more, consumers are sharing their opinions about products, services and the behavior of companies. What this means for business is not always