Notice to healthcare organizations (who tend to lag in incorporating social tools into their networked practices) – “Companies using the Web intensively gain greater market share and higher margins.”
This is a major finding from new McKinsey research, the results of which can be found here in McKinsey Quarterly. It shows that a new class of company is emerging – one that uses collaborative Web 2.0 technologies intensively to connect the internal efforts of employees and to extend the organization’s reach to customers, partners, and suppliers.
Results from their analysis (among 3,249 executives across regions, industries and functional areas) show that the Web 2.0 use of these companies is significantly improving their reported performance.
In fact, the data show that fully networked enterprises are not only more likely to be market leaders or to be gaining market share but also use management practices that lead to margins higher than those of companies using the Web in more limited ways.
The chart below shows that among respondents at companies using Web 2.0, a large majority report that they are receiving measurable business benefits. Nearly nine out of ten report at least one – ranging from more effective marketing to faster access to knowledge.
Once again, you can view the complete summary findings here.