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Should brands fear or embrace the increasing levels of consumer power created by Web 2.0 developments?
August 20th, 2009 | 
Author: Blogs, social networks, forums… Consumers are being empowered by developments in what has come to be known as Web 2.0. Enhanced product knowledge and a greater ability to publish and organise have provided consumers with the tools required to voice their comments and criticisms to the masses. Should brands fear or embrace this emerging trend of consumer empowerment? Can it be exploited to the brand’s benefit, and if so, how?
I think brands should embrace this trend (fear won’t change anything in any case).
Yes, brands can use blogs, social networks, forums and whatever else comes along for their benefit – they can hire contributors, have their marketing people ‘lurk’ on the blogs, etc. to hear the talk, post questions, etc.
Hopefully they contain themselves to a reasonable degree so that consumers can retain some balance of power – I believe it’s good for business if consumers have some power in the relationship – it forces business to become better.
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Tags: Balance Of Power, benefit, Blog Archive, Consumer Power, Consumers Power, Digital Economy, Economy Act, Exploited, Fear, Intelligence Quotient, Iq, job, Jobs In The Philippines, Jobs Philippines, Marketing, people, Product Knowledge, Relationship, Social Networking, Social Networks, tools, Trend, Yahoo, Yahoo Answers | 
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