“Four Ways to Harness Web 2.0”

By Tim Parry
Multichannel Merchant
June 11, 2008

Dave’s Comments (Digital Marketing Tutorial Blog): With increasing frequency, online retailers are realizing what Amazon realized (and also invented and implemented) a number of years ago – Amazon gave potential Customers the means to view opinions of existing Customers for a specific product, and since these are the “voices” most trusted by potential Customers, giving them access to this information actually increased sales overall! This short article builds on that idea with several suggestions on how to best implement “Customer Reviews” on your eCommerce Web site.

“Looking to upgrade your e-commerce site to Web 2.0? Even if you think you are behind the curve, Dave Friedman, president of the central region for Avenue A | Razorfish, says you may still need to understand what the buzz is all about.

Speaking Tuesday at Internet Retailer’s Conference and Expo, Friedman reminded the audience that Web 2.0 is more than just a new technology. Rather, Web 2.0 is the “combination of technology and design that aims to enhance creativity, information sharing, and most notably, collaboration among users,” Friedman said, showing a slide of the Web 2.0 entry on Wikipedia.

“Because it’s technology-enabled, Web 2.0 gives users a much broader community in which they interact,” Friedman said. “People with similar interests, literally around the world, can share product experiences, brand experiences, and experiences with different retailers.”

And the stats show why Web 2.0 is important. Nielsen recently released a study that showed 78% of consumers were most influenced by word of mouth when making a buying decision. A Luxury Institute survey showed that 84% of consumers who make more than $150,000 a year use ratings and review sites to find out about products prior to purchase.

But just because you bring Web 2.0 into your e-commerce mix doesn’t mean you can sit back and bask in the success. Friedman listed four things every retailer needs to effectively harness Web 2.0.”

Read the entire article by clicking on this link:

Four Ways to Harness Web 2.0