Global Survey reports that many companies are increasing their budgets for Web 2.0 (Social Media)

In a recent podcast interview, Michael Chui, consultant with McKinsey & Company, shares the findings of his employers most recent annual report on Web 2.0 (Social Media) usage in companies all over the world:  How companies are benefiting from Web 2.0:  McKinsey Global Survey Results.

A couple things caught my attention:

• In spite of the economy, companies are continuing to make investments in Web 2.0.  80% have not reduced their spending, in fact 50%, of the 80% are increasing their budgets in this regard.
• Why are they doing this?  It is relatively inexpensive, but more importantly, 2/3rds of the respondents are seeing a return on their investment.

Here is a short 7 minute interview with Michael Chui, summarizing the report of 2,000 world-wide executives: 

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