Nearly four in five companies believe that Web 2.0 technologies have the potential to increase revenues, according to new research.
Although this is relatively unsurprising considering the hype surrounding video and information sharing websites, many businesses still struggle to turn Web 2.0 ecommerce techniques into hard cash.
So far, companies have focused their Web 2.0 efforts mainly on creating online communities to help with product development.
The second most popular strategy was establishing blogs or wikis to initiate conversations with customers and business people in a similar field in order to collaborate and share market knowledge.
Significantly, the study also found that chief executives and directors were more enthusiastic about the technology than middle managers.
"We were surprised by the level of excitement among big firms concerning the commercial possibilities presented by Web 2.0," said Dan Armstrong, editor of the report.
"Our survey respondents and interviewees saw Web 2.0 as an opportunity, not a threat, and were extremely creative in applying the idea of the collaborative network to their own products and processes."
