Social Media is becoming a powerful tool both for marketers and consumers – leveling the playing field in a world where he who shouts the loudest wins. Consumers are not only becoming increasingly better at researching products before they buy – they are no longer stuck grumbling to friends and coworkers when the product they invested is doesn’t perform, or worse – the company that sold it to them no longer cares about them as a customer.

Customer service leaving you on hold for an hour before unceremoniously disconnecting you? Take it to twitter. Post it on your Facebook, and before long – people read it. Now amplify your tiny little voice by millions and suddenly – corporate and retail giants have to (gasp) take credit for their customer service – for better or worse.

On the flip side of that coin – companies that understand social media are taking to the blogosphere to attract a new generation of customers. These companies understand that consumers don’t just appreciate this new world of two0way communication between themselves and Corporate America – they demand it.

If you think social media like Facebook and Twitter aren’t revolutionizing the way business works – check out this article: Businesses using social media reinvent marketing.