There was an article last week that said corporations were working to regain the trust of customer’s. My first reaction was, “are they building a time machine?” Becuase it seems like it is too late. After reading the article though I realized it had more to do with marketing.
Its mission: to cast AmEx not as a financial titan but as a humble service provider assisting mom and pops — establishments consumers typically like to support. AmEx, its gold-plated reputation tarnished by subprime bets, wants to regain the trust of its customers.
Yes, American Express is just like me. All of the Wall Street icons are just like me. The only difference is that after I lose all my money, I can’t ask for handouts. Other than that we are one in the same really.
That approach doesn’t work so well now — and not just because recession, job insecurity, and hammered home values have made consumers disinclined to part with their coin. The days of consumers passively absorbing a TV commercial — or, for that matter, a banner ad — are over. People research purchases as never before, and they read peers’ opinions about brands and products.
Did you hear that Corporate America? We, the people, research stuff now. We can blast you when you screw up. We have twitter, so take our tweet and shove it.
