How many of you heard about the $5 monthly fee that Bank of America introduced two months ago for anyone who uses their debit cards? How many of you heard the news that the same $5 monthly fee was scrapped last week? What happened in between is what’s so amazing about this story.
Change.org, a site created to champion social activism through online petitions, is becoming very powerful. A site that allows anyone to join, start a petition, or sign a current petition, and builds itself right into social media, is worth taking notice of.
Change.org is just one example of a much larger movement, a movement wherein consumers are gaining more and more power. There have long been people or organizations (Consumer Reports) who have looked out for the little guy. Now, the little guy has a bull horn and he publishes his own content that gets read by the masses.
The little guy is not so little anymore, and companies like Bank of America and Netflix are slowly figuring that out. Not only are there more choices than ever before, but those choices are easier to find and sort through, and consumers know the truth behind the advertising from friends of theirs who are already customers.
No more lying, no more cheating, no more fees…they said.