Enterprise spending on Web 2.0 technologies will surge over the next five years, growing 43% each year to reach $4.6 billion globally by 2013, according to a new
report from Forrester Research.
Currently, large businesses are spending more on employee collaboration tools than customer-facing Web 2.0 technologies, but Forrester expects that trend to reverse by next year. By 2013, investment in customer-facing Web 2.0 technology - such as social
networking, RSS, blogs, wikis, mashups, podcasting, and widgets - will dwarf spending on internal collaboration software by nearly a billion dollars.
We don't normally point to this kind of broad analysis on Finextra, but I guess if you're reading this post you probably have an interest in where this market is going.
For banks, it's going to be hard to avoid. The next generation of consumers are adept digital natives, who shun traditional marketing techniques. If you want to reach out and engage with them, you're going to have to move in their circles of choice. And
that means allocating budget and resources - preferably sooner rather than later.