Mar 2, 2012

Customers are Keen to Help Business

As I tweeted on 1 Mar, Frugal Dad posted an infographic about a series of “social consumer victories” that were recently brought about via Twitter. These are good examples of what’s happening in the relationship between business and consumer. In the era of social media, consumers are empowered by them and able to form a unified message, which exactly cooperations have been doing for decades. Customers are now as powerful as other stakeholders, if not more, to influence business decisions.

This is absolutely phenomenal; however, I still have some hesitation in calling them consumer “victories” because benefits should be mutual, not unilateral at the expense of firms. Although Armani & Versace case seemed to be deliberately unethical decisions, the rest of them were, they thought, rational. They just failed to communicate with their customers and made wrong moves. So, those who were still fond of, or at least interested in, the products were kind enough to take the initiatives and tell the businesses that they were not happy with the decisions and would abandon the relationships.

These are clear indications that in reality some top managements still struggle to understand how to make decisions from customer’s viewpoint even though it’s been a while since marketing departments realized customers sat at the heart of their businesses. And they are right. Customers are those who exchange not only monetary value, but also invaluable information.

Now the door is open and customers are keen to help business for a win-win relationship. I believe that being sincere & ethical in business will financially pay off. Therefore, why not “engage in real two-way discussion with their markets, listening to their questions and concerns and responding openly and honestly” —Niall Cook?


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