The Relationship Economy

relationshipeconomy-mid.jpgWhen you mention The Relationship Economy, most people will either give you a puzzled look as they try to change the subject, or they will ask you straight out, “What’s The Relationship Economy?”

The Relationship Economy is comprised of twenty-some-odd factors: the US factor, the individual factor, technology factors, etc. etc… Each factor, when considered individually, is fairly self-evident, but when they are combined, the emerging economy provides stystemic opportunities through every aspect of life, including business.

In our estimation, two things can happen. 1) Either people will learn to adapt to the new rules of The Relationship Economy, leaving them more successful in both their personal and professional lives, or 2) People will ignore the pundits and the signs of the new economy, go on about their daily lives without changing their actions, and they will lose (some slowly and some more quickly) what they have earned based on the old economy.

The second scenario may be a little Apocalyptic, but think about this: Big Business is usually the last segment of the population to adopt new ways of doing things – They’ve done what they’re doing for years, and it’s worked so far. So why change?

Well, as Doc Searls says in The Cluetrain Manifesto,Markets are conversations,” and if businesses ignore the cascading conversations enabled by the social web and its many portals, they (the businesses) are like the pushy telemarketer that just can’t get the hint that you’re not interested in whatever he’s selling. Essentially, for businesses to ignore the factors of The Relationship Economy is like them saying, “We don’t care about what you think or do. We just want you to buy our product which will make your life better in so many ways, but we can’t give you specific examples because we don’t know anything about YOU, the customer!” Then, of course, they will place signage on the walls of the corporate headquarters reminding the employees and managers that “THE CUSTOMER IS #1” and “WITHOUT THE CUSTOMER, NOTHING ELSE MATTERS!”

Sadly, my cynicism is rearing its ugly head. There are so many ways for businesses to incorporate US – their customers – into their daily lives, but they just seem not to want to “get it.”

 How ’bout it?

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Explore posts in the same categories: relationship economy, social networking, social web, The Communications Factors

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