When The Buyer Gains Power

by Jay Deragon on 05/02/2012

For years sellers maintained power over buyers. Technology is changing the game and buyers are now gaining power over sellers. As a result corporate behavior, regardless of industry, will have to change in order to survive.

The New Participation Model

“Corporations will allow the public to participate in the construction and representation of their creations or they will, eventually, compromise the commercial value of their properties. The new consumer will help to create value or they will refuse it… Corporations have a right to keep copyright but they have an interest in releasing it.” –Grant McCracken (1997)

The New Buyer

If old consumers were assumed to be passive, then new consumers are active. If old consumers were predictable and stayed where you told them, then new consumers are migratory, showing a declining loyalty to networks or media. If old consumers were isolated individuals, then new consumers are more socially connected. If the work of media consumers was once silent and invisible, then new consumers are now noisy and public (Jenkins 2006a, pp. 18-19).

The Economy Will Be Driven By Buyer Intentions

Doc Searls release of “The Intention Economy” has the promise of starting yet another “net revolution” but this one could change the entire dynamics of all markets.

The first paragraph of the Introduction explains,

This book stands with the customer. This is out of necessity, not sympathy. Over the coming years customers will be emancipated from systems built to control them. They will become free and independent actors in the marketplace, equipped to tell vendors what they want, how they want it, where and when—even how much they’d like to pay—outside of any vendor’s system of customer control. Customers will be able to form and break relationships with vendors, on customers’ own terms, and not just on the take-it-or-leave-it terms that have been pro forma since Industry won the Industrial Revolution.

Pay close attention to the future because the power will now rest with the buyers not the suppliers. Everything will change yet again.  Listen to Docs discussion about “The Intention Economy” below:

298__Winning_in_the_Intention_Economy

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