Trying something new can be daunting, especially when your business is concerned.
But, as they say, “fortune favors the brave” — so be brave and invest in changes and innovations that make sense for your brand.
Experimenting can also show your customers the lengths you are willing to go in order to satisfy their ever-changing needs and wishes, which in turn boosts customer loyalty and satisfaction.
ROCK CONTENT MAGAZINE What is a content experience?
Top 3 Examples of Marketing Myopia
These three companies suffered from marketing myopia — and paid hard for it. Let’s take a look at what happened, exactly, and learn from their mistakes.
Quote Testimonials
Once upon a time, weekend entertainment was served by Blockbuster. Do you remember? It was pretty exciting.
On Fridays and Saturdays, you’d drive to your nearest Blockbuster store and spend varying amounts of time browsing through a seemingly telephonelists.biz never-ending stream of neatly organized VHS.
Then, you’d go back home (often with a few extra snacks picked up at the checkout) and wind down with a good movie.
Now, the idea of physically going to a store to select a movie to watch — and pay for it each time — seems ludicrous to say the least. But before we all moved to at-home, on-demand, digital streaming services like Netflix, something was already happening.
What is Customer Segmentation
Now, the idea of physically going to a store to select a movie to watch — and pay for it each time — seems ludicrous to say the least. But before we all moved to at-home, on-demand, digital streaming services like Netflix, something was already happening.
With the advent of the internet, and the hyper-fast pace of digital life, our weekly trips to Blockbuster withered.
We discovered DVDs, and then we
discovered a company that delivered Mailing Lead DVDs straight to our front doors. That company was, of course, Netflix.
And although Marc Randolph, its original CEO, had tried to sell the company to Blockbuster for $50 million, the offer was turned down with a laugh by Blockbuster’s CEO John
In the meantime, the digital era was growing, our visits to the local Blockbuster were plummeting, and the convenience of having movies by our front door was irresistible.
Netflix kept doing well because it was offering people exactly what they wanted. Blockbuster, on the other hand, kept ignoring this fact all along, focusing on its self-perceived superiority in the video rental market.