There’s no denying it, no matter how many businesses wish it weren’t true. Consumers truly hold the balance of power in the game of marketing and sales. Where it was once possible that marketers could literally ram products and services down their clients’ throats, today customers are in control given they’re much more sophisticated. They instead expect marketers to be able to convince them of the value of their wares.
How and why has this occurred? For starters, the internet has truly leveled the playing field when it comes to consumers’ access to quality information, not to mention their enhanced ability to share it. With their ability to influence other consumers and brands, consumers hold tangible power in the marketing equation. This is achieved through product reviews/ratings and social media. This influence cannot be underestimated.
So how should businesses react to this? Simply put, they must ramp up their game…
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