Today isn’t the same promotional world you’re used to growing up in (or if you’re young enough, your parents). The days where having a big advertising budget translates into big profits simply isn’t true anymore, or at least not without other factors coming into play.
While raising brand awareness, segmenting a target market and positioning strategy are all crucial to selling a product or service, the world where companies can make their customers believe anything that’s advertised is simply no longer the case.
Just like a company can find out as much information about its customer base as it wants, customers are also open to researching the good and bad about any company they want. This gives the business owner an opportunity to either accept the challenge that comes with engaging in a two-way dialogue with their customers or assume that if they ignore bad feedback, that the problem will go away.