Social Networks That Boost Your Business

The business use of Web 2.0 represents a new trend called ‘Business 2.0.’

June 18, 2010
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Most people are familiar with the term “Web 2.0,” which refers to a second generation of Web development and design that focuses on fostering social networking via the Web.

Innovative companies are embracing Web 2.0 as a way to enhance communication, information sharing, and collaboration, allowing them to work smarter rather than harder.

The business use of Web 2.0 represents a new trend called “Business 2.0.” Aside from being the name of a now-defunct magazine, Business 2.0 is about using the new Web-based social networking applications (many of which were originally created for personal use) in a way that fosters teamwork, customer touches, and internal and external collaboration in a low-cost, seamless way.

Unfortunately, many businesses believe Web 2.0 and social networking are for the younger generation and a waste of time when used by employees. However, once you understand the power of these applications and how to use them in your company, you’ll quickly find that they can be invaluable tools to boost your bottom line.

Following is an overview of the best Business 2.0 tools.

Personal tools with business applicability

Personal use: Facebook enables you to connect and share with the people in your life. Users can join networks organized by city, workplace, school, and region to connect and interact with others. People can add friends, send them messages, and update their personal profiles to notify friends about themselves.

Business 2.0 use: Large organizations can connect all of their employees or members with Facebook. Some are finding an added advantage of using an internal, secure version of Facebook. This has helped organizations to dramatically increase their internal networking and collaboration.

Ask yourself: Could we use Facebook, or our own internal version, to get people to collaborate at a higher level?

Personal use: Twitter is a micro-blogging service that allows friends, family, and co-workers to communicate and stay connected through the exchange of messages that use no more than 140 characters. Senders can restrict delivery to those in their circle of friends or co-workers.

Users can receive updates via the Twitter Website or other social networking sites such as Facebook. Young people use Twitter to answer the question, What are you doing?

Business 2.0 use: Business users could change that question to: What problem are you trying to solve? Several companies have used this as a fast way to solve problems. Hotels, airlines, and airports use Twitter to pitch services, provide travel updates, and respond to travelers needs.

Ask yourself: Could we use Twitter to solve problems faster with our organization or our customers?

Personal use: Wikipedia is a free online encyclopedia anyone can use to find information on virtually any topic. Anyone can edit the content as well.

Business 2.0 use: A large manufacturing company with engineers in locations around the world increased problem solving and collaboration by creating an internal, secure version of Wikipedia for sharing information on parts and service offerings as well as repair and maintenance instructions.

Retailers and suppliers could create a version of Wikipedia to foster education and training, as well as enhanced information-sharing.

Ask yourself: Could we create an internal version of Wikipedia to foster better information and knowledge sharing?

Personal use: YouTube is a video-sharing Web site where users can upload, view, and share video clips. YouTube displays a wide variety of user-generated video content as well as movie clips, product demonstrations, and commercials.

Unregistered users can watch the videos, while registered users can upload an unlimited number of videos.

Business 2.0 use: Businesses are posting humorous commercial videos to generate interest in their products. The more entertaining they are, the more people watch them.

Business partners could create a YouTube-like channel for of education and training.

Ask Yourself: Could we enhance our marketing efforts as well as general communication by using YouTube?

Personal use: Digg is a social news Web site made for people to discover and share content from anywhere on the Internet by submitting and accessing links and stories. Voting on stories thumbs up or thumbs down is the site's cornerstone function, respectively called digging and burying.

Business 2.0 use: Many organizations have found this to be a good way to track the interesting advances in technology or useful business news. Large organizations can create their own internal version for sharing what employees consider to be the most useful information.

Ask yourself: Could we use Digg, or our own internal version, to get people to share their most interesting Web-based information with each other?

Personal use: Delicious is a social bookmarking Web service for storing, sharing, and discovering Web bookmarks. It uses a nonhierarchical classification system in which users can tag each of their bookmarks with freely chosen index terms.

Business 2.0 use: Business users can share their most useful Web sites with co-workers or business partners. If a customer purchases a product, sellers could share relevant bookmarks that keep the customer coming back for more information and, hopefully, more products.

Ask yourself: Could we use Delicious to share important new Web sites faster within our organization or with our customers?

Visual communications
Personal use: Visual communications, unlike traditional video conferencing, uses your desktop, laptop, and (soon) your smart phone to hold a quick, anytime, anywhere video conference with one or more people.

Travelers are using their laptops in hotel rooms with broadband access and free software such as Skype and AIM to communicate with family and friends to enhance their personal connections.

Business 2.0 use: Businesses are discovering the power of visual communications to enhance the connection with their sales force, business partners, and customers.

Ask yourself: Could we use visual communications to enhance communications internally and externally?

Purely Business 2.0 Tools

A Wiki is a collaborative Web page or collection of Web pages whose content can be edited by anyone who has access to it.

On a moderated Wiki, owners review comments before posting additions to the main body of the topic. Additional features include calendar sharing, live AV conferencing, RSS feeds, and more.

Ask yourself: Could we use Wikis to enhance internal and external collaboration?

LinkedIn is a business-oriented professional networking Web site for exchanging information, ideas, and opportunities.

Ask Yourself: Could we use LinkedIn to expand our organizational network for enhanced knowledge sharing?

Cloud computing
With cloud computing, some or all of the storage, software, information technology (IT) processes, and data center facilities you use can exist on your provider’s server. It’s maintained and cared for by your provider, and gives you 24/7 access from any device.

This reduces or eliminates the cost of upgrading hardware and software, maintenance, and associated IT labor costs. Currently, the ideal organization would be any size company that’s facing big investments in computing and communications infrastructure.

Ask yourself: Could we use cloud computing to streamline our IT needs?

Gain a new competitive advantage

By reframing the use of social networking technology, companies can increase communication, collaboration, problem solving, and competitive advantage with little cost.

Many of these tools are free or nearly free, making them accessible to even the smallest of businesses. Therefore, the sooner you embrace Business 2.0 and put it to work for you, the faster you can penetrate new markets and win the lion’s share of business.

Daniel Burrus is a technology forecaster, business strategist, and author. He’s also founder and CEO of Burrus Research, Hartland, Wis. Contact him at 800-827-6770.

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