The path to succcess seems clear; companies that have adopted Web 2.0 technologies are outpacing their competitors on a number of key performance criteria.  According to a recently released McKinsey & Company study, organization’s that more intensely utilize the web and that have incorporated web 2.0 technologies into their businesses enjoy greater market share and higher margins.   While the study noted relatively high utilization rates for social networking (40%) and blogs (38%) among companies surveyed, what is more impressive are the benefits that companies using web 2.0 technologies are realizing.  Nine out of ten survey respondents that indicated they were using web 2.0 technologies indicated that they were receiving “measurable benefits.”

Okay. We've established the fact that the financial services industry has been slow to embrace social media marketing. Why should we be surprised, after all this is an industry that relies on the Investment Advisers Act of 1940 as its regulatory foundation? How many of the legislative acts authors envisioned the presence of the internet and the profound impact of social networking when they drafted Rule 204-2 – "Books and Records to Be Maintained by Investment Advisers"? Be that as it may, the fact is that we work in a regulated industry and there are rules that impact all facets of practice marketing.

While some may view the documented shifts in consumer attitudes and buying behavior that have taken seed in the wake of the global market crash or 2008 as a "new reality" many see them as a return to normalcy.  The perspective one takes will likely be dependent on their age and their value system.  Regardless of perspective, it is clear that these changes in behavior, which include consumers saving more, borrowing less and spending less, will shape how businesses rethink their positioning and business development strategies.