six ways to make Web 2.0 work for your business

21 February, 2009

Six ways to effectively use the five main groups of Web 2.0 and social media tools in business have been detailed in a report by McKinsey.

A bit dry and jargon-heavy to read but full of good, informative stuff.

For example: appeal to people’s egos and needs—not just their wallets!

Boost the reputation of participants in relevant communities, reward enthusiasm and acknowledge the quality and usefulness of contributions. Research has found that when prizes for contributions were handed out at prominent company meetings, contributions were far higher than when the awards were given in less-public forums.