Social Commerce

McKinsey Report on Benefits of Social Web

Consulting firm McKinsey have released their 2009 annual survey on how businesses are deriving value from Web 2.0 technology. The report can be downloaded here.

Based on the responses of nearly 1700 business executives from around the world, much of the report focuses on how social media (blogs, wikis, content-sharing) and social networking platforms are being used to save time and money through cost-effective collaboration among employees and with partners. Below is a short podcast that the authors put together summarising the findings, and an interactive presentation can be found here (login required).

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The report also covers the use of social media and social networking tools for marketing purposes, and provides an interesting snapshot of dominant (blogging, social networking) and emerging (video sharing) trends. In addition to using Web 2.0 as a marketing communications tool, the report highlights four other marketing uses of Web 2.0 technology – sales (customer acquisition), improving customer service, developing new products, and allowing customers to connect with each other.

For marketing communications, blogs and presence on social networking platforms, podcasts and video sharing are the most popular Web 2.0 tools, used by approximately one third of businesses surveyed (click to enlarge).

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In terms of customer acquisition (sales), no specific mention was made of social commerce tools, but the most popular social media/social networking tools used for driving sales are currently social networking platforms, blogs, video sharing and RSS.

Chartered psychologist specialising in consumer behaviour, wellbeing and technology. Certified CX professional experienced in Design Thinking. A researcher, writer and speaker, Paul is head of Digital Insight at SYZYGY.

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