NetFlix: We Didn't Think THAT Would Happen

HomeConsumer blogOct 2011NetFlix: We Didn't Think THAT Would Happen
I know I can be a bit repetitive in this space. I'm sure if we went back and looked at my previous posts, a lot of the same topics and trends would be covered. It probably looks a little ridiculous at times, but the fact of the matter is, a lot of times, what we are saying is true.

How many times have you heard me talk about how if you aren't happy with the service you are getting from a company, then take your business elsewhere. Hit the company where it hurts the most, in the bottom line. 100 times? 200 times? Ok, you get the point. Well I know a lot of you think that you're contribution to the companies revenue probably won't have an impact on the bottom line. Well think again. Look last week what happened to NetFlix when it announced that it would be increasing prices on it's customers. The company reached it's tipping point with it's consumer base, and thousands of customers ended their contracts with NetFlix, and the stock dropped from over $200 to $116. Boom! Right in the kisser. The outpouring of rage from customers was so strong that the CEO issued an apology and went back to the old pricing model. Looks like NetFlix is learning the hard way. Don't think it's true? Go pull up a stock chart of NFLX.

So next time you are thinking about sticking with a company that's treating you poorly because in the grand scheme of things it's really not going to matter to the company whether you are a customer or not, think again. You do have the choice where you do business. The company should treat you with respect and quality service. You can make a difference. Just look at NetFlix. Are you listening Bank of America?

For more on the impact at Netflix, and for an interesting perspective on the situation, click here.

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Posted by GetHuman on Tue, 18 Oct 2011 8:41pm

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