Information Access and Harnessing the Power of the Public

The Internet has changed the balance of power in favor of the public. Recently, Bank of America announced that it was going to begin charging a customer 'convenience fee' of $5 per month for using their debit cards. In years past, some people would have just left the bank, others would've grudgingly paid. Thanks to social media services like Twitter, customers were able to organize without an organization, forming their own instant protesters network. And in this case it worked, Bank of America backed down and is not going to be charging that fee. That's not to say they won't find someplace else to tack it on, but for now, the power of the public was certainly demonstrated.

So how can your company harness this power in a positive way. You probably don't want a negative backlash like Bank of America experienced. So, what can be done?

Well, for starters - deliver an incredible value to your customers. Make sure you're team knows how important each customer experience is to the overall health of your business. Take care of your team so they are motivated to over-deliver to your customers. If your customers have a great experience, they're likely to share it within their social networks. Use the power of the public to build a network of loyal fans who rave about your product/service every chance they get.

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