Spending on Web 2.0

Spending on Web 2.0 (0)

| 3/06/2008

Web 2.0 is the business revolution that is making the World Wide Web the platform for information sharing, collaboration and creativity.  As businesses look to make this evolution a reality, spending is expected to reach nearly US$5 billion by 2013 on social networking tools.

This spike in spending is seen as an investment in the technologies necessary for businesses to communicate with employees and customers. As more and more businesses move to prioritize Web 2.0 spending, social networking tools have the highest profile.

Social Networking has many manifestations. For example, the social networking/microblogging tool Twitter has skyrocketed in popularity and profile. However, it is sites like Facebook that are still driving the most notice as marketers continue to mine them for advertising and monetizing opportunities.

Other Web 2.0 tools like blogs, RSS feeds, mashups, Folksonomies, widgets, podcasting and wiki’s have also been widely adopted. Analysts expect that as the revolutions matures, these applications will eventually be bundled into collaborative software packages that can be tailored for business needs.

In the meantime, consumers are coming to expect to be able to relate and communicate with companies in the new ways. This has helped spur the spending boom that is underway as companies invest in the many advantages that Web 2.0 brings to the table.

tags: Business ,  Online Trends