News

Social media giving power to the people

January 9, 2012

Social media puts power into the consumer's hand, according to Mark Cooper, the research director for the Consumer Federation of America. He told the Kansas City Star that the Internet magnifies the voice that consumers can have.

"The impact of voice is becoming more and more important," he said. Consumers are less likely to put up with fee hikes and perceived rip-offs quietly and are using social media to voice their opinions.

He cited Verizon Wireless as an example. Verizon announced last month that it would charge customers $2 to make single bill payments to Verizon online or over their phones. Blog posts, tweets and news stories channeled consumer anger, and the company back peddled.

From the story:

"There's been a change in the balance of power," said Glynn Mangold, a professor of marketing and emerging technologies at Murray State University. "Communication has been democratized."

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