The success of our new economy will largely rest on how well companies start honest, open dialogues with their consumers.  Period.

No more wordy positioning briefs.  No more boardroom marketing speak.   No more talking at the consumer.  No more conferences on whether social media and marketing matter (BTW, they do.).  Success begins with honest open dialogues, and honest open dialogues begin when one person listens and the other gets a chance to speak.   Today, it’s the consumer’s turn – and companies that want to thrive in this economy better start listening – or at the very least, start getting used to shutting up a little bit.

Communication channels have come a long way in the past two hundred years.  The printing press, telephone, radio and television made communicating to the masses easy, accessible and, in most cases even entertaining.  Marketing strategies revolved and thrived in this highly controlled and subjugating world.  Consumers were told, not asked, what, when and why to buy.  But the one inherent weakness – something the Internet quickly identified and has taken advantage of – was the one-to-one or one-to-many method of communicating.

Blogging, tweeting, and facebooking have have completely changed this, turning the one-to-many model into a many-to-many model.  The audience finally has a voice to talk back with.   And the world is starting to take note.  It has given earthquake victims a voice in China, shifted political power in the United States, motivated revolt in Moldova, and brought a generally secluded Iran into the global spotlight.  All this, with little more than mobile devices and websites.  The democratization of information is changing the rules of the game.

And it’s the driving force behind why the newspaper industry is flailing and magazine subscriptions are down.  Why having a home phone has been replaced with a mobile phone – for each family member.  Why broadcasters have turned to reality shows to pad their lineup, and why radio lets you track and download the music you listen to on their websites.   Companies that only focus all their energy into maximizing profits for their investors are missing the point – and more broadly, missing an incredible opportunity to capitalize on the massive power their consumers wield.

Consider the “My Starbucks Idea” campaign, that lets Starbucks consumers share and vote on suggestions to help shape the future of their business.  Their “Ideas in Action” blog keeps dedicated users up to date on how suggestions are being put to practical use.  This dialogue  helps strengthen a consumer base that’s tightening their discretionary spending, and gaining ground on more consumer-friendly competitors.

Zappos, an online retailer, has utilized nearly every social media weapon in its arsenal to build a repoire with consumers that can outlast any economic downturn.  According to CEO Tony Hsieh, “The primary purpose of the blogs and twitter is so that outsiders can get a glimpse into our company culture. We don’t really think of them as marketing channels so much as ways to develop a more personal connection with people, whether they are other employees or our customers.”

Companies – especially those in service oriented industries (and what company isn’t these days?) – would be wise to take these examples to heart and start putting their ears to the ground.  The swell from social media sites like Twitter and Facebook is growing, and those that aren’t part of the conversation will ultimately be ignored by consumers.