The Internet Economy is being witnessing significant changes due to the introduction of participatory media and also due to the expansion of the interlinking communities made possible by Web 2.0. Web 2.0 applications are internet based services that emphasizes online collaboration and sharing among users. Some of the web 2.0 characteristics are rich interactive platform; user friendly interface; users own the data on the site and exercise control and applications are used entirely through a web browser.
The features that make web 2.0 grow as dynamic data driven communication platform are networking to parallel sites, the freedom to communicate ones own thought and exemption from just reading what is written. Such a platform lets its users participate and comment with the aid of APIs (Application programming interface).
Since Web 2.0 technologies are based on open standards, developers are integrating this technology in their business model based on open standards which pay way to more innovation than ever before. One such example for Web 2.0 tool is the social network marketing techniques which can be freely exploited.
Web 2.0 is marked with the alarming growth of web services such as blogs, wikipedia, Ad sense and flicker. As per the latest survey results in Internet World conference in London, 60% of businesses are actively using Web 2.0 technologies in their business.
Clients from all over the world are experimenting with various combinations of web services using existing data and information within their businesses to create new applications that brings a much larger utility to the customers using lucrative internet applications.
The working of a web 2.0 technology can be put in simple terms as following. Organizations are targeting more customers on the web through aggressive, not assertive marketing techniques. But actually it is the young people who actually makes the most of the bucks out of it by helping the companies through spreading their messages in terms of writing blogs, viral videos etc.
Some of the major internet companies who adopted the concepts of web 2.0 ate Amazon, eBay etc who took advantage of the communicative properties of the web media thus allowing the users to dissemination of information across them. Such companies normally have personal web pages and sites, photo sharing sites etc. Companies promote their brands through increased web traffic and thus ultimately pumped up their share prices, boosting up the internet industry.
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