24 Jan '12, 9pm

Carrotmob Shows Why Consumers Now Have All the Power

Carrotmob Shows Why Consumers Now Have All the Power

Have consumers ever been more powerful than they are today? A Facebook posting led thousands of people to move money out of big banks and into credit unions. When customers revolted. Verizon dropped plans to charge a $2 "convenience fee" to pay bills online. A petition at change.org led to Bank of America back off a scheme to charge customers for using their debit cards. "It's a great time to be a citizen," says Brent Schulkin. "It's a really bad time to be a failed institution." Schulkin, who is 31, is the founder of Carrotmob , a startup that aims to use the power of consumers to do good. Instead of boycotting or protesting companies for missteps (or downright bad behavior), Carrotmob organizes campaigns in which people offer to spend their money to support a business, and in return the business agrees to take an action that the people care about. It's the opposite of a ...

Full article: http://www.greenbiz.com/blog/2012/01/24/carrotmob-shows-w...

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