Consumers Have Power. Companies Have Genius

What does this rising consumer control bode for the future of companies?  Do we become reactionary?  Do we simply give consumers what they’re asking for? Do we follow their drive to lower margins?  We all love deals after all. And what of breakthrough innovations?  When consumers aren’t even aware of what’s possible, how can we expect them to ask for it?  And after all, wasn’t it consumer research that favored “new” Coke? In this scenario, it would seem company fortunes hang from the consumer-puppeteer’s dowel.

Companies as Puppets?

Reduced to such an analogy, companies become spineless without heart or intent.  In such a world companies lose their creative drive. Who’d want to work there? I wouldn’t sign up for that.   But if we enlarge our view a bit, we see that powerful consumer strings aren’t the only element in a consumer-company-market system.  The dynamic is circular.

Paradox of Power

So here’s where we achieve some equilibrium:  consumers have buying power but companies have genius.  Call it a paradox of power.  Consumers create context and give companies purpose, but companies form things into reality and manifest the extraordinary.  Now there’s a place I’d want to work. With our market coexistence pact, consumers have problems and companies have solutions.  Customer service leaders do this every day.

The Vision Mission Thing

In previous posts we’ve underscored the importance of Vision and Mission.  This is where company genius must reside.  The vision and mission must be seeded in a spirit of understanding, service and purpose. When clearly articulated, passionately and brilliantly pursued it positively impacts all: employees, partners, vendors, customers, the culture at-large.  To succeed companies must put customers first, understand their needs and values and consistently serve their interests.  Companies that apply creativity and innovation to this understanding deliver new value.   And with new value comes new profits.   Consumers pay for genius.