Hopefully the discussion of whether or not the whole web2.0/social media thing is a fad is over. If not, I can’t help you!
Many brands are still struggling with whether or not they should implement web2.0 thinking. After all, is it worth the effort? What is the ROI? Can’t I just keep doing business as usual?
First of all, business ISN’T as usual. Don’t believe me? Second of all, I’d like to draw your attention to IWI: Irrelevance Without Investment. Brands that do not make a serious investment in thinking in so-called web2.0 terms are doomed. Even web companies that thought they were savvy but didn’t keep up with trends found themselves picking out headstones. Need numbers? Here are a couple of examples of well known brands or web products that are getting their butt kicked.
As you can see, the properties that sat on their laurels or decided to wait out web2.0 have either barely maintained their status or saw it decline. Even so, the upstarts that adopted new technology and adapted to new trends saw their engagement skyrocket. Even brands born online such as Yahoo, saw their social network sites decline against new comers (at the time) like Mypace, simply because they didn’t keep up with change.
Like the legions of species who have fallen into extinction, those that did not adapt to the new environment they existed in have become a thing of myth.
Charts above based on Pew Internet Research, Oct 5, 2006 “Riding The Waves of Web2.0″