Consumer power through social media – Impact on companies?

Video from Gary Vaynerchuk, king of social media. Long story short: Asian girl orders pizza at Papa Johns & gets called “lady chinky eyes” on her receipt. Girl posts a picture of the receipt on Twitter and it gets viral. Papa Johns fires the employee and is spending huge amounts of time recovering from the PR damage.

Social media – as we could see in the Arab spring revolutions – is a truly powerful. Similar things like crowd buying / crowd sourcing / etc … are attempts to shift buying power. Interesting times.

Check out the video here:

Social media gives consumers power