Social networking has allowed a vast range of opportunites for the modern business to use.
These sites offer a way for businesses to advertise to millions of users as well as target their specific market. Their advertisement may be seen by more people than it would otherwise as well as allow it to be seen worldwide for a much less relative cost.
Social networking sites also allow 'groups' or 'fan pages' which allow a business to create a following for their product/service. this also creates a medium for their customers to give feedback to the business, again giving the business a better understanding of the minds of their customers with regard to their product/service.
Web 2.0 's ideas center around user generated content, the power of the crowd/masses, openess and massive amounts of data. businesses can use all of these ideas for the benefit
with regard to information sharing business have vast resources they can tap into and use that info to better their product/service.
sites like Wikipedia allow users to find out information that would otherwise be near impossible to find, even leading them to that business company, in terms of them operation in an extremely niche market.
A business can also share information with its customers, update on upgrades available, services, new products, ect.
Information sharing all in all helps improve a businesses customer service beyond what it would otherwise be.
Video sharing has allowed a new way in which a business can market their product/service
a business can put 'teasers' up allowing the public to catch a glimpse of a new up and coming product.
Also allows a business to show users of its product how the product work, like an online video instruction manual, this then could be used to strengths the business's customer service.
People have become more important with Web 2.0 leading to the massive popularity of blogs.
blogs have become as popular as newspapers and become a better source of infomation with regard to persnal choices, product reviews ect.
A business can uses blogs to check how people are interacting with thier product or service and receive a more relaist 'review' of how customers view them and their product/service.
A business may consider starting their own blog, and as users can comment on each blog entry a business can keep their customers up to date as well as hearing their feedback on each post. which may allow them to stop a bad idea before it costs them money or finding new ideas.
Web 2.0 is like an upgrade of the web but without the upgrade.
Web 2.0 moves on from the traditional web where it was static and mainly just retrieving the information you desired.
Web 2.0 is more interactive