Blogonomics : business and social changes from the blog

Back in 2003, Blogs as well as wikis started the Web 2.0 frenzy with online community networks and user generated content. Web 2.0 has recently cooled down, but it may have started a new era. The purpose of this paper is to explore the blogonomics - the business, as well as social, changes blogs have brought to us. It applies system thinking to analyze blogs, from blog elements (forms) to blog systems, and then to major components in the blog ecosystem. This paper focuses on the returns on blogs (ROB), mainly the business impact. Blog marketing, including word-of-mouth marketing (WOMM) and blog ads, has been discussed extensively along with the business models that can monetize blogs. It also proposes to use blogs as innovative tools for collaboration and content management. This paper primarily targets companies interested in the benefit from blogs. Furthermore, it hopes to explore a few innovative blog business models for entrepreneurs and serve anyone who is genuinely interested in blogs and Web 2.0.