Building a network of like-minded users and visitors is the basis of Web 2.0 applications on the web today, and social bookmarking is just one element of this growth. Web 2.0 sites are based on a few key principles that encourage interaction and sharing information with ease. By using tagging and breaking down information into keyword structures, everything is organized in a way that makes it easy to search and find specific information. From blogs to shopping sites, Web 2.0 has allowed new, media-rich applications to serve as platforms for all users. Sites such as Digg.com, StumbleUpon, Linked-In, ThisNext, and scores of others are building communities and creating networks.
Web 2.0 applications are essentially doing what market research departments have been working on for decades; filtering information on consumers, and segmenting the market. Market segmentation is an essential part of consolidating demographic information, and has often been compiled through surveys, focus groups, and other market research initiatives. Web 2.0 applications allow many marketers to simply skip these steps; if your consumer market is voluntarily sharing information about their tastes, preferences, and other ideas through social bookmarking channels, it becomes much easier to learn and develop new tactics to keep them engaged.
Many industries can gain significant insights and information from experimenting with social bookmarking and networking tools. This concept of creating a knowledge economy is growing rapidly in areas such as:
Research and Development
Retail and Shopping
Music and Entertainment