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Law firms slow to Web 2.0, including blogs, likely to regret it : McKinsey survey

Law firms slow to adopt innovative technology, labeled as Web 2.0 are likely to regret it according to a recent survey from McKinsey (free reg.). Included in the definition of Web 2.0 are the use of blogs in place of personal websites.

Here’s the keypoints of the survey from, Bruce MacEwan, my source on this post.

  • Asked how satisfied they are with the financial return on their investment in Web 2.0 technologies over the past five years:
  • More than half are pleased
  • Three-quarters plan to maintain or increase investments in the coming years
  • Only 13% say they are disappointed
  • Interestingly, those who described themselves as ‘early adopters’ were more satisfied than those deeming themselvse ‘fast followers.’ This confirms my own personal prejudice that in technology investments, speed is a virtue.
  • Knowing what you know today, what might you have done differently to make your investments in Web 2.0 technologies more effective?
    • Invested at the right time but didn’t invest enough: 42%
    • Should have invested sooner: 24%
    • Would do nothing different: 18%
    • Invested at the right time but over-estimated potential: 10%

    Understandably, there is a lot within Web 2.0 than blogs. Bruce includes Tim O’Reilly’s thoughts on business’ evolution from Web 1.0 to Web 2.0. Included on the list by O’Reilly, founder and CEO of O’Reilly Media, thought by many to be the best computer book publisher in the world, with my commentary, are a number of items referring to blogs, RSS, and some byproducts of blogs.

    Web 1.0–>Web 2.0

    • personal websites–>blogging
    • domain name speculation–>search engine optimization – blogs achieve high search engine rankings
    • directories (taxonomy)–>tagging (‘folksonomy’) – blogged content is regularly tagged for Technorati, delicious, and the like
    • publishing–>participation – blogs are by their nature a conversation
    • stickiness–>syndication – RSS included in blogs for syndication to clients, prospective clients, media, public, and other bloggers

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