Traditional Marketing represented as Marketing 1.0 was about hitting the consumer with 360 degree communication, so that the consumer finally succumbs to buying your brand.
Marketing 2.0 is about engaging the consumer in a conversation, hence building trust and authenticity in a low trust world. The conversation could be a query on a brand, honest feedback on a product or co creation of communication content. The opportunities are immense, but the effort required is enormous.
* Image derived and adapted from - Creating Digital Dialogs - A Social media Overview