Even before the Internet, at Schwab we realized that if we do the right thing for our customers, they'll reward us. But other companies are facing a rude awakening. Now they have no other choice. The Internet is forcing everyone to behave differently. What the Internet did was to move control to the customers' hands.
Customers are no longer willing to be locked in.
They want great service, fair prices, and innovative offerings. If they don't get these, they'll go elsewhere, and they'll tell the world. You're no longer in control of your company's destiny. Your customers are. Business and consumer customers are challenging and disrupting the standard practices in virtually every industry.