Web 2.0 is mentioned in boardrooms, referenced in IT venues and questioned by marketing departments still struggling with the implications of a Web log. Positioned as the best thing since the iPod, Web 2.0 is often mistaken for a formal set of next-generation Internet technologies for collaboration and information sharing.

Seldom with any definition, the phrase pops up everywhere. It has embedded itself into the mainstream vernacular with little understanding, while featured on the pages of Newsweek and Wired magazines. When Googled, 255 million hits return.

But what exactly is Web 2.0? More importantly, does it even exist?

Wikipedia, the widely recognized online e-reference guide, acknowledges that the term “lacks of set standards as to what ‘Web 2.0’ actually means, implies or requires. The term can mean radically different things to different people.”

The Economist recently subtitled an article: “If it’s cool, it’s probably Web 2.0.” That message captured the very mystery of the subject, while failing an attempt to define it. The term was initially coined by O’Reilly Media following the dot-com bust in 1999. O’Reilly recognized that while the commercial side of the Internet was sorting through its own rubble, the Internet still held powerful marketing potential.

With that, Web 2.0 was hatched as a nebulous catchall to identify the newest generation of Internet collaboration, such as the popular networking sites MySpace.com, FaceBook.com, Flickr.com and YouTube.com.

For many people, the term has become a fallback to denote anything online deemed innovative. Wikipedia in of itself is considered Web 2.0, a site where anyone can enter a definition and allow others to edit the original entry.

Discussion groups and message boards first emerged as new media, but have evolved into Web logs, wikis, instant messaging and podcasting – or as many consider them, Web 2.0. But the very notion that Web 2.0 is anything tangible clearly is fiction.

True, it is a high-level description of a segment of the Internet, but trying to label such a dynamic and localized culture is like pinning the tail on art, literature or music in a single snapshot of time. It would be similar to renaming European Renaissance art “Art 12.0” back in the seventeenth century. This, however, would have likely left Chinese artisans from the Ming dynasty scratching their heads.

If today’s online social networking is Web 2.0, then just what was Web 1.0? Was there ever a Web 1.5? And who will be tasked to characterize Web 3.0? The term is nothing more than a vague attempt to promote a segment of Internet technologies by those in a position to benefit from it.

The Internet and its vast array of technologies have evolved into so many different things that trying to capture it all into a single definition, a sole thought or even a set of close standards is at best reckless.

The Internet’s billion-plus users are constantly finding new ways to tell their story, connect with others and sell their wares in a variety of methods. Grouping them all into a single category is impossible.

Nonetheless, there is a nugget of fact in the fiction: While inappropriately named, Web 2.0 does capture a new breed of social networking that is valuable to businesses and individuals. And, there will continue to be major innovations to the Web that will forever change the way individuals experience the Internet and how companies interact with their customers.

Taking a cue from household brands like General Motors, Ford, Microsoft and Maytag; many are increasingly using the Web to present and sell their products, as well as to talk to and listen to their customers – all in an attempt to influence buying decisions. And, with 172 million Americans online, no company can afford to overlook the Internet as a way to connect with its customers.

The key is to find the right mix of interactive tools that fits your business to inform, brand and market to your customers while providing a forum for them to talk to you. So the next time someone suggests stepping up your Web 2.0 capabilities, ask for details. Then ask, “What exactly is Web 2.0?”

Attend this session and you will learn:

The future of websites and Web Content Management
About the staying power of Web 2.0
Why you might want to integrate Web 2.0 and Web Content Management strategies (even though they are counter to each other)
How some organizations are putting this approach to use

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