Of all the many types of social media, I am focusing on the aspect of customer reviews.

Picture this: Suppose you own a restaurant. Then one of your waitresses was rude to your customers. She didn't refill the drinks, didn't ask how the food was, didn't listen to requests, and gave the wrong bill. Any of these mishaps (even if accidental) caused the customer to be so aggravated, she decided to write a review on Yelp.com that same night when she gets home. No, in fact, she was so pissed that she decided to text her disappointing experience to her friend, and then she posted online on Facebook right on her Blackberry. Her post was linked to Twitter, which allowed her to send the bad review to 60 of all her friends. Who then twittered it to 60 more people that they know. It all happened within 30 minutes of her drive home.

Wow. If you think this is fiction, think again. The speed of communication via the Internet has surpassed our expectations. It's so fast, you don't have time to blink and discuss with your board of directors, your staff, or your consultant.

How long does it take for potential customers to find out the lousy service that your waitresses give? Given the fact that a large percentage of the American population checks their Facebook account everyday, they would read this bad review when they wake up the next morning. Would they decide to eat at your restaurant after reading this pissed off review from one of their friends? Probably not.

Hence, the power of social media, specifically customer reviews.