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Leveraging the Power of the Community 211

ability to find “someone like me” who is interested in the
same product or service.

To give an illustration: A financial institution’s customers
are critical of the institution during an online discussion. The
financial institution does not know how to answer so they
reply anonymously. An influential blogger takes note and
“buzzes” about it. The buzz increases. The financial institu-
tion, now out of control, decides to respond directly but it’s
too late. The brand damage is done and now it’s in crisis
management. Without a “get it right and honest the first
time” response (rules for successfully being part of the new
world), the chance to easily address the issue is gone along
with credibility and trust.

Instead of going directly to business for product or service
information, consumers are increasingly first going to the
Internet. Instead of having a “selling” experience with biased
sales and marketing messages, they can control the buying
experience. One wherein:

● They need not tolerate the parade of marketing messages
whose intent appears to be self-serving.

● They can increase their convenience by buying products
and services on their time and their terms.

● They can increase the efficiency of the purchase by
researching products first and then having very precise
questions for the business.

● They can approach a supplier with greater knowledge
and sometimes in greater numbers (which gives them
much more room to negotiate).

So given all the challenges and risks to doing
business on the net, is it worth it?

There is no question: the economics of this new consumer
environment are utterly compelling for almost all industries.