The advent of ‘Social Media’ will drastically change the dynamics of the market place, giving customers an instant voice and means to respond to shabby or arrogant business practices. The following example of Verizon’s triggering the anger of customers who are savvy with this new channel of communication should prove to be ‘fair warning’ for those companies who have cavalierly ignored it until now.
Unlike all earlier periods of human history, there can NOW be an almost instant serious price exacted on corporate “Goodwill” when companies ignore customer satisfaction.
Unlike all earlier periods of human history, there can NOW be an almost instant serious price exacted on corporate “Goodwill” when companies ignore customer satisfaction.
However, there is an immense upside to ‘Social Media.’ As we covered in our Market Review, for those companies who adopt strategies to use ‘social media’ there will be exceptional benefits. In fact, Advertising and Marketing campaigns that recognize and utilize these brand new channels of communication will gain immense advantage against all competitors.
Polestar Communications does offer unique and powerful tools by which to engage the market place at this quite primal level of instant communication with no demographic or geographic limitations.
Is your company utilizing 'Social Media’?
If not, subscribe to our Market Review to learn of the surprisingly explosive power of this new advertising medium or contact us for surprisingly inexpensive Means &Methods by which to utilize ‘Social Media.”
VERY important: I included two comments on this article to illustrate the level of dissatisfaction that is stirring out there in the Public Psyche of this "New Normal" era. ALL companies had better ramp up to deal with it when it is triggered, because it will prove to become ever more volatile, as we near the "Event Horizon" of the "Bond Bubble's" explosion after the "The Great Deception of 2012."
Verizon Cancels $2 Fee After Backlash
Bloomberg:By Alex Sherman - Dec 30, 2011 5:20 PM ET
Verizon Wireless (VZ), the largest U.S. mobile carrier, canceled a planned $2 “convenience fee” for online and phone bill payments after a backlash from consumers and scrutiny from the Federal Communications Commission.
The company reversed its decision after just one day in response to customer feedback, according to a statement on its website today. Basking Ridge, New Jersey-based Verizon Wireless had announced the fee yesterday for users who make single bill payments on a month-to-month basis online or by phone.
Customers began criticizing Verizon Wireless on Twitter and Web forums after the company disclosed the fee, with some setting up online petitions and calling for consumers to boycott the carrier. The FCC today said it was “concerned” about the plan and that it would investigate.
“Companies used to think they could get away with putting out unpopular policies,” said Brianna Cayo Cotter, a spokeswoman for Change.org, a website that lets people start online campaigns. “Today, hundreds of thousands of people can mobilize and change policies in a matter of hours. That’s what we’re seeing with Verizon.”
Verizon Wireless customers started more than 35 petitions on Change.org against the fee, including one that was joined by more than 95,000 people within hours.
Last month, a consumer backlash led to Bank of America Corp. canceling a $5-per-month fee for debit card users. In that case, too, consumers used online campaigns to pressure the company….”
- urownexperience 17 hours ago
The middle class is just about strapped. Yet everyone wants to make a killing off them. Something's gotta change.
- Triorbis 17 hours ago
This, more than sitting in a park and playing the drums, is how you get corporations to change. The ONLY thing they will respond to is a threat to their bottom line. This is one of the great benefits of social media; the fact that within minutes a very large number of people are made aware of any type of wrong-doing, and can start to coordinate a response, especially an economic response, before the day is out. I'm sure our good friends at Verizon were snickering for weeks over the Occupy Wall Street movement. Without any direction or any "teeth" it was overlooked as just some crank gathering of "freeloaders, hippies and malcontents". But when those same execs see the threat of financial loss in writing, then and ONLY then will they take notice. Verizon (and other telecommunications firms) make a healthy profit. When they cross the line from reasonable profit to outright greed, it is up to a well informed consumer to fight it, and targetting their bank accounts is the best way to fight.
Make no mistake: just because they backed down in the face of widespread protests doesn't mean they won't try something else. I would pay close attention to you wireless bills (as well as all your other bills) to see what new and novel fees they will try to slip in under the radar.
Make no mistake: just because they backed down in the face of widespread protests doesn't mean they won't try something else. I would pay close attention to you wireless bills (as well as all your other bills) to see what new and novel fees they will try to slip in under the radar.
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