The Bankwatch

Tracking the consumer evolution of financial services

The age of customerism and producerism

Long rambling post, summarising the “Dell Hell” issue, and boiling it down to whether a company works for the consumer, or Wall St.  Conclusion:  while Wall St watches your results, its customers that pay the bills.

BuzzMachine » Blog Archive » The age of customerism and producerism

  • Companies used to be able to get away with making crappy products and offering crappy services because they were able to mass market people into submission and because consumers didn’t have a way to make their unhappiness widely known.
  • Thanks to the proliferation of content (both “professional” and “consumer-generated”) and content channels, mass media and thus mass marketing are now dead, so there is no longer an effective way to sell crappy products and services.
  • Through blogs, video sharing, and other platforms for cheap content creation and distribution, individual consumers now have a powerful way to spread the word on crappy products and services on a large scale.
  • The lessons for companies:
    1. Make better products and offer better services, or your business will likely suffer.
    2. If you make mistakes, listen to your customers and fix the mistakes.

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Written by Colin Henderson

July 18, 2006 at 00:31

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