Don’t assume people can’t live without you. When Netflix raised its prices by 60 percent for many customers this summer, the assumption must have included “people need us, they’ll pay.” The company learned recently that about 1 million customers have decided they don’t need to pay.
In consumer electronics, we are in the lifestyle enhancement business. You must constantly innovate your product and your marketing with a focus on improving people’s lives. And at any moment, customers may decide that the cost is no longer worth the value — or that another company improves their life better than you. This can happen in an instant in our business. There’s no room for corporate ego here.
You can read my Harvard Business Review article on the Netflix situation here
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These weekly thinking launch points are called “Minutes” because they will always be short enough to read in about 60 seconds.
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My new Evangelist Marketing Think Tanks, live experiences for dramatic development and growth, are detailed here.
Download the entire introduction of my upcoming book, Evangelist Marketing, here.