The advancement of the Internet from Web 1.0 to Web 2.0 has had a significant impact on the e-commerce industry. For many people, e-commerce is viewed as an ultra convenient and accessible way to purchase goods without having to leave the comfort of their home. However, in the early stages of e-commerce the benefit to the consumer heavily outweighed that to the online retailer. With the emergence of Web 2.0 technologies, retailers are now able to tap into customer preferences and buying habits unlike ever before.
Online consumers are usually prompted to fill out surveys relating to their spending preferences after an online purchase. Sometimes these surveys will even be linked to promotional offers as an added incentive to participate. In fact, most online shoppers will happily provide their personal information to a favorite online retailer, because they know that they’ll be the first to receive a notification of new promotions. In an article on Digitaltransactions.net (see below for link to article) the author supported the claim that the information sharing between online retailer and consumers is now a two-way street.
Web 2.0 technologies have fueled the expansion of online communities, blogs, and other open channels to share information. These channels of communication have helped retailers to differentiate themselves. In the world of Web 1.0 the competitive advantage in e-commerce was dominated by the lowest price offer. With the development of Web 2.0, online retailers now have the marketing tools to reach out to a specific target audience. In fact, many of the social networking services allow members to rate products and provide reviews and feedback. In this sense, e-commerce is shifting from a low-cost dominated environment to a customer-friendly culture.
Many of the social networking sites already include member profiles which contain useful marketing information relating to a member’s demographic and personal preferences. In the future, some of the major players in e-commerce may team up with social networking sites to provide selective advertising to a specific target audience. A relationship like this would make online shopping even easier for the consumer. No longer would we have to search through our favorite online retailers to find the newest items or hottest deals. Instead these types of promotions would automatically appear as the banner advertisements on our Internet browser.
http://www.digitaltransactions.net/newsstory.cfm?newsid=2038
Monday, January 26, 2009
Sunday, January 25, 2009
Virtual 3D Worlds, Web 3.0?
Now that Web 2.0 is fully upon us, people are looking forward to term the next breaking technology as Web 3.0. The most popular candidate to take on the Web 3.0 label is the virtual 3D world technology. Second Life is the best example of an interactive virtual 3D world in which people can perform nearly every real world function as a self-created avatar. Second Life has transcended the world of video games to become a way to literally live a “second life”. For example, the currency used in Second Life, Linden Dollars, can actually be exchange for real world currency.
Some of the world’s technical savvy companies are pushing the limits and capabilities of virtual world environments. In an article on Infotech.Indiatimes.com (see below for link to article), innovative ideas are presented for how businesses can utilize virtual 3D worlds in their everyday operations. As more people begin to establish their second life identities, businesses will have an increased target audience to reach in the virtual world. The article cites several India-based companies that have built virtual stores in second life and advertise on the virtual platform. Unfortunately, no data was provided to link the virtual advertising to any real world sales or profits.
Companies can not only utilize virtual worlds to reach customers, but also to conduct business meetings, conferences, presentations, interviews, etc. One of the primary benefits of conducting business via the virtual environment is that employees from different regions of the world can be brought together for a relatively low cost. The cost is low compared to costs associated with the conventional means of travels, such as booking flights, rental cars, and hotel rooms. So, instead of incurring the travel costs to bring together a group of employees, a company can arrange to meet in a virtual conference room and attendees can participate from the comfort of their own homes.
I think that virtual 3D worlds offer a viable substitute to live real world meetings; however, they could never completely replace the need for personal contact. At least not yet. It remains evident that some people of the Baby Boomer generation have failed to embrace the technology advances of the past twenty years. I have heard similar stories from many companies of employees who still struggle to master the idea of sending e-mails. Until the few people stuck in this technologically-ancient generation are phased out, or step into the age of technology, we may have to wait to coin the term Web 3.0.
http://infotech.indiatimes.com/articleshow/4021928.cms
Some of the world’s technical savvy companies are pushing the limits and capabilities of virtual world environments. In an article on Infotech.Indiatimes.com (see below for link to article), innovative ideas are presented for how businesses can utilize virtual 3D worlds in their everyday operations. As more people begin to establish their second life identities, businesses will have an increased target audience to reach in the virtual world. The article cites several India-based companies that have built virtual stores in second life and advertise on the virtual platform. Unfortunately, no data was provided to link the virtual advertising to any real world sales or profits.
Companies can not only utilize virtual worlds to reach customers, but also to conduct business meetings, conferences, presentations, interviews, etc. One of the primary benefits of conducting business via the virtual environment is that employees from different regions of the world can be brought together for a relatively low cost. The cost is low compared to costs associated with the conventional means of travels, such as booking flights, rental cars, and hotel rooms. So, instead of incurring the travel costs to bring together a group of employees, a company can arrange to meet in a virtual conference room and attendees can participate from the comfort of their own homes.
I think that virtual 3D worlds offer a viable substitute to live real world meetings; however, they could never completely replace the need for personal contact. At least not yet. It remains evident that some people of the Baby Boomer generation have failed to embrace the technology advances of the past twenty years. I have heard similar stories from many companies of employees who still struggle to master the idea of sending e-mails. Until the few people stuck in this technologically-ancient generation are phased out, or step into the age of technology, we may have to wait to coin the term Web 3.0.
http://infotech.indiatimes.com/articleshow/4021928.cms
Web 2.0 Affects Business Culture
I don’t use many, if any, of the social Web 2.0 tools that are available today. This includes Facebook, MySpace, Flickr, LinkedIn, etc. However, I do frequently visit YouTube for both entertainment and educational purposes. I understand that individuals subscribe to the above mentioned Web 2.0 services as a means to tap into an online social outlet. In this sense, these types of companies provide a useful service in helping people to stay connected in an innovative and effective way. Some of the many services that these companies provide include instant messaging, file sharing, e-mailing, chat rooms, personal profile pages, search functions, etc. With all of this great technology being developed to advance our social networking, I wanted to discover what businesses are doing to incorporate Web 2.0 into their culture.
Web 2.0 companies have become a valuable resource to staying connected to our social circles with friends, family, classmates, etc. But have businesses also adopted the Web 2.0 technology to expand their multimedia power? I searched for online articles about businesses that are using Web 2.0 to enhance their social capabilities to answer this question. I found an interesting article on Newsfactor.com (see below for link to article) that outlines the top three reasons that companies integrate Web 2.0 technology into their business. The top three reasons according to their survey were to 1) build and promote their brand; 2) improve communication and collaboration; and 3) increase consumer engagement. About half of the companies surveyed reported using video, social networking, blogs, and online communities.
As evidenced by these survey results, it is obvious that many companies have already incorporated Web 2.0 technology into their operations. As individuals become more comfortable with integrating the Internet into their lifestyle, I would expect that companies will lean even more on web technology. At this point, I don’t think that people have truly realized the extent of the Web 2.0 technology that has been made available by various businesses. I think that there will be a gradual acceptance as people progress from simply paying bills and checking account balances online, to becoming active members of online communities.
This article proved to be a good example of how the potential of Web 2.0 technology will affect the culture of business in the future.
http://www.newsfactor.com/news/Companies-Becoming-More-Sociable/story.xhtml?story_id=011000QE1FBV
Web 2.0 companies have become a valuable resource to staying connected to our social circles with friends, family, classmates, etc. But have businesses also adopted the Web 2.0 technology to expand their multimedia power? I searched for online articles about businesses that are using Web 2.0 to enhance their social capabilities to answer this question. I found an interesting article on Newsfactor.com (see below for link to article) that outlines the top three reasons that companies integrate Web 2.0 technology into their business. The top three reasons according to their survey were to 1) build and promote their brand; 2) improve communication and collaboration; and 3) increase consumer engagement. About half of the companies surveyed reported using video, social networking, blogs, and online communities.
As evidenced by these survey results, it is obvious that many companies have already incorporated Web 2.0 technology into their operations. As individuals become more comfortable with integrating the Internet into their lifestyle, I would expect that companies will lean even more on web technology. At this point, I don’t think that people have truly realized the extent of the Web 2.0 technology that has been made available by various businesses. I think that there will be a gradual acceptance as people progress from simply paying bills and checking account balances online, to becoming active members of online communities.
This article proved to be a good example of how the potential of Web 2.0 technology will affect the culture of business in the future.
http://www.newsfactor.com/news/Companies-Becoming-More-Sociable/story.xhtml?story_id=011000QE1FBV
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