Small Business Concerns in a Web 2.0 World

Today I participated in a panel discussion at the Partnering Works Business Conference on how Web 2.0 is changing how small businesses operate and market. The conversation was rich and included Eric Weaver (Vice President of Edelman Digital), Rachel Derlatka (Partner at Alliance Network Services), and moderator Greg Lins (President & Founder of TLG Innovation). We discussed what Web 2.0 really means, how it impacts marketing, and what the future looks like for global enterprise. I think that the discussion can be best summarized as:

• Web 2.0 changed the Internet from a one-way push of information to site visitors to an interconnected two-way push/pull of communication between companies and site visitors.
• Businesses should stop thinking about a web site and start thinking about their social web. The social web includes a web site, social networking sites, blogs, and other digital communications tools. It's not enough to have a spot on the web. The strength of your online presence depends upon the size of your personal and professional networks.
• Privacy is almost dead. Don't post anything on the web -- personal or professional -- that you wouldn't say or do sober at a cocktail party. With privacy so highly at risk, online communicators must be diligent about protecting their personal information, but be completely open with all communications. If you lie or attempt to be deceitful or restrained, it's almost certain that someone will find out. Deception and half-truths can quickly discredit you and your business.
• The boundaries between personal and professional are blurring, thanks to upcoming Millennials and Gen X'ers. Though it might not seem relevant now, including personal bits about yourself in your online presences will help people connect with you.
• It's difficult to determine the intent of someone sitting behind a computer. Revelation and transparency can help you build your networks much faster and create open communication with your online community members.
• The consumer is in complete control. Remember that anyone can build a blog or connect via their social network and spread information about your company more quickly than you can put out a press release. Top it off, marketing is the least-trusted channel of information according to Edelman's consumer trust report (contact Eric for more about this). People won't trust your press releases, but they will trust the opinions of their peers.
• Web 2.0 reinforces the importance of relationships. The web should be a communications tool, not a veil of canned statements to hide behind. The conversation you have online should match the tone and substance of the conversations you have face-to-face.
• Social networks will not replace in-person communications. It just makes person-to-person engagements more effective and more personal, particularly if you have an established online relationship.
• The speed at which new technology and tools roll out will only accelerate over the years. Keep an eye out for Web 3.0 in the near future.

I will post either a video or a podcast as soon as the digital content is ready. I will also publish a written version of my presentation, The Four S's of Marketing in a Web 2.0 World, in the next few weeks.