On October 23rd, 2014, we updated our
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…some companies use Web 2.0 in revolutionary ways. This elite group of organizations—3 percent of those in our survey—derives very high levels of benefits from Web 2.0’s widespread use, involving employees, customers, and business partners, according to the survey. Respondents at these organizations reported higher levels of employee benefits than internally networked organizations did and higher levels of customer and partner benefits than did externally networked organizations. In applying Web 2.0 technologies, fully networked enterprises seem to have moved much further along the learning curve than other organizations have. The integration of Web 2.0 into day-to-day activities is high, executives say, and they report that these technologies are promoting higher levels of collaboration by helping to break down organizational barriers that impede information flows.
ROI from Web 2.0 52% of organizations using Web 2.0 achieved Best-in-Class performance compared to only 5% that didn’t Companies using Web 2.0 tools achieved 18% increase in engagement vs. 1% among those that didn’t
T. Rowe Price adds 1,500 workers to its call center each tax season & transferred the entire training program to a wiki.
Price encouraged new employees to take notes during the sessions and then add notes, comments & recommendations to the wiki.
As a result, the company estimates that it saves 1-2 mins. per call at $20 per min. (net result = millions of dollars).
Social networking ROI
60% of questions answered within one hour of posting
90% of questions answered within 24 hours of posting
Each question posted receives an average of 9 answers