At first you might dismiss this.  You might say, "Web 2.0, Social Media - These are all buzzwords that don't have anything to do with my business. I am not going to waste my time on this."  But, then again, the economy is tough and ANYTHING that can help you is worth a look.

These companies may have thought the same thing - until they tried it...

• CoffeeGroundz in Houston Texas almost doubled their clientele with a few simple steps.
• Within 6 months, Ace Hardware saw a 500% increase in ROI through increased sales by connecting dispersed distributors.  Ace got them 'talking' through discussions - something that geographically spread out stores were not able to easily do.  Once they did, sales, cost savings and collaboration rose dramatically.  Plus, new hires get up to speed much more quickly.
• Home Depot uses video to quickly and simply explain how to perform some common DIY projects.
• Each year, RehabCare looks for the best college grads to hire.  To help them, they turned to social recruiting.  Whereas their limited staff of five had only so much outreach, now they are in constant contact with thousands of students each day.

Each of these examples will not directly correlate to your business.  No real example will.  But they can give you some good ideas of how to use Web 2.0 - or Social Meda - to better help you collaborate better within your company, connect with your customers or reach new customers.  Use these and other examples and then brainstorm how you can use it to increase your business and keep a solid foundation through these rough economic times.