• Customer Engagement – Using Facebook applications can be a great way for communicating promotions, contest and events. Again it is another interception point that can be leveraged to entice consumer engagement with your brand, your products or your service.

• Drive Web Traffic – Facebook can act as a portal point for driving traffic to your site and other online properties.

• Reputation Management – can be a useful tool for seeing what users are saying about you and your brand. In addition your Facebook profile can now be indexed in the search results and as a result can provide another favorable listing in the organic search results of the engines.

• New Customer Acquisition – Facebook provides an opportunity to find consumers you may have not otherwise discovered.

• Lead Generation – Similar to the previous point is that Facebook can act as another potential lead gen tool that can be used to qualify leads. Reviewing potential prospects’ profiles may help you build a relationship with your prospects and aid in the lead generation qualifying process.

• Client Retention – provides another potential interception point to build the relationship with your consumer.

• Access to the social world and it’s inherent value – aka the cool factor. You never know who is using Facebook. Consider the following scenario: a potential prospect could be doing research on your brand or organization and may use Facebook to see if you have a presence there. Then they see that you have a Facebook profile and see a number of positive posts about your brand. This in turn can shape their sphere of influence and could end up being one of many deciding factors as to why the prospect selects you over another vendor. The perception that Facebook is “IN” and the fact that you are using Facebook could help influence their perception of your brand. Having said that, there are still may who are anti-Facebook so it could also affect the perception about your brand. The fact remains is that Facebook continues to gain popularity and it is not going away anytime soon.

• The Viral Effect – Take word Of mouth to a whole new level. Nothing attracts a crowd like a crowd… Facebook is attracting quite a crowd.

• Feedback Mechanism – Using Facebook and the various applications available can help you understand consumer behavior based on the sharing of content and commentary on the social networking site.

• Build Business Use Cases – Facebook can provide you with an opportunity to build successful business cases as you target specific vertical markets with specific business objectives.

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Web 2.0 concepts led to the development and evolution of web culture communities and hosted services, such as social-networking sites, video sharing sites, wikis, blogs, and folksonomies. The term became notable after the first O’Reilly Media Web 2.0 conference in 2004.

Although the term suggests a new version of the World Wide Web, it does not refer to an update to any technical specifications, but rather to changes in the ways software developers and end-users utilize the Web. According to Tim O’Reilly:

“ Web 2.0 is the business revolution in the computer industry caused by the move to the Internet as a platform, and an attempt to understand the rules for success on that new platform.”

Tim Berners-Lee, inventor of the World Wide Web, has questioned whether one can use the term in any meaningful way, since many of the technological components of Web 2.0 have existed since the early days of the Web.

This info come from wikipedia.org many thanks for them

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