The Future Of Business – The Consumers New Found Power. It’s been said forever, the customer is always right. So why doesn’t business believe it, why don’t they practice it? Greed? Probably. I as a consumer, more than anything want accurate information, pure uninterrupted support, ease of access, and above all, the freedom to make a decision without being coerced, or sold.
It’s also been said, that a customers experience with a brand (product or service) is what determines the life span of a business. If it’s good, you get another day. If it’s bad, your days are numbered, it’s really that simple. It’s called Word Of Mouth, people talk, and now they talk to millions at the stroke of the keyboard.
The future of business is like the threat of an avalanche, a business can be wiped out as quickly, and it can grow equally as fast. Why? Word Of Mouth. The Consumer has new found power, many will abuse it, that’s human nature, but many will tell the truth. It’s the truth that’s the problem, it’s harder to deal with, it’s harder to make corrections when the truth is revealed. Those who abuse this new found power will be found out, and then will have to deal with the truth, it goes both ways doesn’t it.
Gerd Leonhard has said it, I have said, and many others have quoted it, we will have to learn how to trust the people formerly known as the consumer. Why? Because they have the new found power. Whether you believe it or not, that’s the truth in a nut shell, they can and will determine the future of your business. They don’t need to qualify, they don’t need permission, they only need an opinion. You and I have absolutely no control on how they will share that opinion. As a business owner, we have the opportunity to ensure it’s a positive opinion, there in lies the rub. We have to work hard for that positive opinion, and most of us don’t want to. We want to do just enough to reach our objectives, then get out before we have to work too hard.
I can only offer this, in order to build a legacy, to build a business that makes the world a better place, you have to plan and work hard to ensure that happens. If it’s just about making money, you’re looking at the wrong metric. Money is merely a means to an end, but the legacy, the world, it wants more from you than just handing over money. The new found power of consumers wants more, and will demand it, it will force you to be accountable, you will comply or pay the price of ignoring the new found power consumers have today. Their opinion matters, and you need to pay attention to it.
And that’s why telling the truth, honesty, sound products and services that deliver, and your integrity matter, it is the foundation that will help you build a legacy, a strong successful business. It sounds corny, and it sounds like hard work, that’s because it is. If it was easy, well you know the answer to that one.
The future of business will be built on this new found power of the consumer, they will determine whether you service or product is any good, they will determine if your recommendations actually solve their problems. Plan, work hard, and deliver. That’s how you will get on the good side of the consumers new found power.