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The running dialogue can read like an electronic bulletin board and can be an effective way to gather opinion, brainstorm, and vet ideas.Comments also help keep a blogger honest—a vigorous community of commenters will quickly expose a blogger’s errors of fact or logic.Over the past few years, a fundamentally different class of Internet services has attracted users, made headlines, and increasingly garnered breathtaking market valuations.Often referred to under the poorly defined umbrella term “A term broadly referring to Internet services that foster collaboration and information sharing; characteristics that distinctly set “Web 2.0” efforts apart from the static, transaction-oriented Web sites of “Web 1.0.” The term is often applied to Web sites and Internet services that foster social media or other sorts of peer production.,” these new services are targeted at harnessing the power of the Internet to empower users to collaborate, create resources, and share information in a distinctly different way than the static Web sites and transaction-focused storefronts that characterized so many failures in the dot-com bubble.The final part of this chapter describes how firms should organize to engage with and take advantage of social media—specifically detailing how to “Get SMART” (with a social media awareness and response team).After going through both sections you should have a solid overview of major social technologies, how businesses are leveraging them, and how firms can organize for effective use while avoiding pitfalls.

Links in a blog post that refer eaders back to cited sources.

(a list of a blogger’s favorite sites—a sort of shout-out to blogging peers) also help distinguish and reinforce the reputation of widely read blogs.

Most blogs offer a two-way dialogue, allowing users to comment (a sort of “letters to the editor” section for each post).

Table 7.1 "Web 1.0 versus Web 2.0" lists several examples typically considered to fall under the Web 2.0 classification (a term coined by publisher and pundit Tim O’Reilly), and each is offered alongside its first-generation Internet counterpart.

Millions of users, billions of dollars, huge social impact, and most of these efforts grew to influence millions in less time than it takes the average freshman to complete college.

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Mobile and social also work together to create entirely new services, like the location-based game / discovery engine / deals platform, Foursquare.