The Pit - IMI Trust

You are seeing the world of business revolutionise right before your eyes!

Business is not about building databases anymore, it is now about building networks or communities. It is taking what is so powerful offline and utilising the technology available to create networks online.

It is no longer about selling your customers, it is about educating them and providing them with a platform to contribute to your business.. The more you educate and inform, the more loyalty you attract. It is about involving them in the community which you are developing, and allowing them to be active within it.

Advertising platforms allow marketers to target their customers, in ways which 10 years ago… were not even thought of. The way consumers think is now in terms of ‘keywords’. Companies like Google, take an approach to advertising which I have never seen before. That is… the better you are at targeting your customer, and the better you are at relating your text to your customers desires… the cheaper your advertising rates.

For business, sites like LinkedIn have gone from strength to strength. Facebook is now evolving at an amazing rate and astonished the business world when Microsoft invested US$240 into the company for a minor stake. This investment valued the company at US$15 Billion.

Google is on the verge of cracking $700 a share, and it’s aquisition of Youtube has proved wise, with it now being the platform of expression for the new generation. Politics has seen a rapid change, with a strong focus on capturing Youtube’s audience to promote their message.

Now we are seeing Australian politicians John Howard and Kevin Rudd go toe to toe, utilising Youtube and Myspace as their platform.

Promoting your business is now more complex and strategic than ever. Those companies that don’t advance with the changes, will be left behind by the companies that adopt the Web 2.0 and Social Networking models.

How are you utilising Web 2.0 and Social Networking in the growth of your business?