Consumer stakeholders

Author
Albert Hamilton

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Consumers are so much more than individuals who purchase a product or a service.  They are much more than a source of money.  And they are starting to realise that.

Initiatives like social media and crowd-sourcing are educating consumers, transforming them into investors.  If a consumer likes a product or a new concept, they can assist in its success through patronage, marketing and even funding.  If consumers decide they dislike something, they can do much more damage than walk away; they can take their case to a jury of millions.  Proprietors may own the business, but consumers own its success.

Yet so many businesses still see the consumer as someone who walks through the door, buys a product and leaves.  This isn’t about good customer service; this is about seeing lost value, daily.  This is about seeing the consumer as a stakeholder.

Consumer stakeholders want the business to succeed; they recognise that if the business loses, they lose.  Consumer stakeholders want to share in cohesive, symbiotic growth.