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Web 2.0 Enabled Innovation Jennifer Mowat

Web 2.0 Enabled Innovation Jennifer Mowat. What is Web 2.0 anyway?. Web 2.0 doesn’t just mean online shopping, email and entertainment. Wikipedia has a view….

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Web 2.0 Enabled Innovation Jennifer Mowat

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  1. Web 2.0 Enabled Innovation Jennifer Mowat

  2. What is Web 2.0 anyway? • Web 2.0 doesn’t just mean online shopping, email and entertainment. • Wikipedia has a view…. • Web 2.0 refers to a perceived second generation of web-based communities and hosted services — such as social-networking sites, wikis and folksonomies — which aim to facilitate collaboration and sharing between users. It’s not really about new technology – its about how we use it. http://en.wikipedia.org/wiki/Web_2 http://www.andybudd.com/presentations/dcontruct05/images/meme3.jpg

  3. Web 2.0 can and does serve niche markets…. community

  4. Web 2.0 can and does serve niche markets…. social

  5. Web 2.0 can and does serve niche markets…. business

  6. But what of the digital chasm SME’s & their customers? • 70% of searches for local businesses online are done through a search engine not a directory (Neilson/Netratings Feb 2006) • £30 billion of UK retail spending and £20 billion of other consumer spending (including services, auctions and classifieds) will happen online in 2007 (IMRG 2006) • £30 billion of offline spending is informed by information or marketing found online. (IMRG 2006) • 90% of IMRG survey respondents say they have researched goods online before buying them offline. (IMRG 2006) • What these numbers are saying is: If you are a business and don’t have or have poor online presence, you are missing customers and losing business. • You cannot connect with your audience if you don’t know how to reach them!!

  7. And SMEs are still struggling with Web 1.0! SMEs are lagging online today ……… …..but will drive marketing innovation (and spend) tomorrow • Myspace, Google, Facebook, eBay all see SMEs as a new growth area for their business – and they are trying to make it easier Being on the web is important to businesses wanting more business • We spend more per head than US consumers but <20% of SMEs on the Web trade online. • Online advertising is >£2bn in the UK. Search dominates. But SMEs are a small fraction of this. 40% don’t have web sites – SEO and SEM just too hard and complex to manage. • Social media presents an opportunity for SMEs to leap frog larger business, using tools that are extremely well suited to them. • Marketing innovation over next 1-2 years will be driven by SMEs empowered with the right tools. • Even the big players are having to adapt to fit the market.

  8. 2.0 has moved marketing into a new realm Direct Marketing Community Branding Mass Communication Target ‘Control’ ‘Control’ ‘No Control’ Brand Brand Target Target Brand Target Target Target Target Target Target Target Target Source: Ogilvy/Henley Center Courtesy of Oglivy – private and confidential

  9. 2.0 marketing has a new tool set - and it’s catchy • Got people talking • 4.6m views on You tube (so far), ranked top 15 most viewed during october • The biggest online buzz generator in US personal care and beauty industries • 14 national broadcasts including ABC, NBC and CBS morning shows, 8000% increase on website traffic http://www.youtube.com/watch?v=hibyAJOSW8U

  10. But 2.0 can also create things you cant control…

  11. Awareness to influence: the new communications model Courtesy of Oglivy – private and confidential

  12. For the innovators out there, your market has changed Plug into relevant communities • 5% of topshop.co.uk’s web traffic is driven from its Myspace profile - that’s 2x MSN and Yahoo traffic combined Engage openly with your customers • "I honestly believe that if Redfin were stripped absolutely bare for all the world to see, naked and humiliated in the sunlight, more people would do business with us." Glenn Kelman CEO of Redfin, online mortgage brokers, quoted in Wired April 2007 • Promote yourself and demonstrate your expertise • If markets are conversations, then social media is designed for communicating and showing off! And Google likes social media too! ….2.0 marketing means the traditional CMO needs to adapt

  13. BT Tradespace …building the Place for Social Commerce Promote • A place to find and get to know businesses - launched • Rich business profiles built on Web 2.0 tools • Ratings • Reviews • Recommendations • A place to network and talk to businesses and other customers – in beta now • Community discussions • Ask questions • Create and join events • A place to buy and sell goods and services – coming soon • Marketplace and ecommerce • Service listings and bookings • Wanted listings (classifieds) • Growing Customer Base • >31k registered users, Includes home-based businesses, start ups, SoHos and SMEs • Expanding base of UCG • 8300 blog posts, 12,500 photos, 6,500 featured items, 410 videos, 160 podcasts Network Transact Biz Dir + Community + Marketplace

  14. Connect and Innovate • Questions

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