(* Source: Joshua Levine *) 

I'm been recently thinking about my past year in social media and realised that I've been pretty focused on the B2C part of social media related projects.  This week begins my quest in observing more about the B2B side of the equation.  Have a read on what Joshua has to say.

Joshua says... 

Wikis, blogs and social networking – once exclusively the Internet playground for techies, kids, and assorted enthusiasts – are being adopted by corporations at an explosive rate.

The race is on to embrace the power of the web to harness collective intelligence and sell products in new ways.

For anyone needing proof that Web 2.0 is big business, just look at Microsoft's battle with Google for an equity stake in Facebook, one of the leading social networking sites. Microsoft now owns 1.6% of Facebook after making a $240 million investment, marking a $15 billion valuation for the high-traffic website.

The Race Is On

ChangeWave Research recently completed a benchmark survey on Web 2.0, which confirms the explosion in Web 2.0 usage. Our survey of 2,081 companies shows a huge percentage not only believe in the benefits of collaborative Web 2.0 tools but are rapidly moving to implement them in a wide variety of ways.

Key findings include:

• One-in-four respondents (24%) say their company already uses Web 2.0 social software. Another 8% say they’ll begin using it in the next 12 months.

• Focusing on specific web technologies, we found that Wikis (20%), Blogs (18%), and Social Networking (15%) are attracting the most attention.

• Surprisingly, while current users find Wikis to be most beneficial to their company, future users think Blogs (26%) and Social Networks (21%) will be most beneficial.

All told, two-in-five respondents (39%) report their company is very or somewhat willing to use Web 2.0 social software for business purposes.

But why are companies so hot on using Web 2.0?

The top two reasons given by current users are both internally oriented:

• To improve internal employee collaboration
• To increase internal efficiency and productivity

However, a wholesale transformation is occurring between current and future corporate users in terms of why they’re making use of Web 2.0 software. While current users are more ‘internally oriented’ in their usage, future ones will be far more ‘externally oriented.’ Here are the top reasons given by future corporate Web 2.0 users:

• To improve internal employee collaboration
• To improve external customer service and support
• To increase external brand awareness and loyalty
• To increase external sales of products and services

Read more here