Comments on: Financial Crisis & Identity Theft solved: One ATM at a time http://blog.hanifinloyalty.com/2008/10/10/financial-crisis-identity-theft-solved-one-atm-at-a-time.html Unbiased insights on Customer Strategy & Loyalty Marketing Sat, 17 Sep 2011 22:11:00 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: lisa stephens http://blog.hanifinloyalty.com/2008/10/10/financial-crisis-identity-theft-solved-one-atm-at-a-time.html/comment-page-1#comment-8018 lisa stephens Fri, 17 Apr 2009 21:36:30 +0000 http://www.customergrowthllc.com/blog/?p=70#comment-8018 I'm impressed by your candor with regard to the loyalty asterisk. My thought, speaking only for myself, is that the trend of the loyalty asterisk is likely making your job more difficult in that, since I, myself, don't have time to think through the possibility of added value or benefit of a loyalty program, I don't include it in my decision when comparison shopping. I wonder if a loyalty program isn't better served as a benefit to the loyal patron, rather than as for attraction value to a new consumer (a customer service philosophy). You mention consumers as having responsibility for our circumstances; I agree, in that we are now having to shoulder the responsibility and pay the debt for this crisis of consumer spending; however, I believe the responsibility for the habits of our nation's spending grew in response to the ideas on which our country was founded, & the basis for our economic structure, that being a value through 'economy'... we put our country 'on sale' through the formation of an 'economy'... economy as a perception of 'spend less, get more' & the more you get, the better the value... instead of basing decisions upon a criteria of worth; are you getting what you need; do you need what you buy; is the product worth what you're spending; more does not equate to good, & value is not a quantity. I’m impressed by your candor with regard to the loyalty asterisk. My thought, speaking only for myself, is that the trend of the loyalty asterisk is likely making your job more difficult in that, since I, myself, don’t have time to think through the possibility of added value or benefit of a loyalty program, I don’t include it in my decision when comparison shopping. I wonder if a loyalty program isn’t better served as a benefit to the loyal patron, rather than as for attraction value to a new consumer (a customer service philosophy).

You mention consumers as having responsibility for our circumstances; I agree, in that we are now having to shoulder the responsibility and pay the debt for this crisis of consumer spending; however, I believe the responsibility for the habits of our nation’s spending grew in response to the ideas on which our country was founded, & the basis for our economic structure, that being a value through ‘economy’… we put our country ‘on sale’ through the formation of an ‘economy’… economy as a perception of ’spend less, get more’ & the more you get, the better the value… instead of basing decisions upon a criteria of worth; are you getting what you need; do you need what you buy; is the product worth what you’re spending; more does not equate to good, & value is not a quantity.

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