Marketers say that consumers now have more power than ever because of technology, but where does that power actually come from?
It doesn’t come from consumers’ ability to make a big fuss out of some issue over the Internet.
Instead, it’s derived from “simple competition,”
Consumers have more choices than ever because of the availability of products and information online, and this vast increase in choices has given them leverage over the big corporations.
Mob rule is not nearly as important as the leveling and competitive impact of online choice.
The power does not come from collective uprisings with catchy hashtags and slogans like what recently happened to KFC Braamfontein and Woolworths’s affirmative action policy (frog in the salad). Those are just “slacktivist tantrums” which are limited in capacity of resolving any complicated issues in the long-term.
On the companies’ side, technology has made it much easier for the ones with good products and marketing to become winners.
If you can make it clear to consumers that you have a better offer, it’s infinitely easier to acquire a million consumers than ever before.