Did Netflix kill Blockbuster?

Did Netflix kill Blockbuster?

or did Blockbuster forget about customers?

Did Amazon kill Sears?

or did Sears forget about customers?

One of my early business mentors told me “you have to be half the price or triple the value for someone to switch from their current provider”.  People don’t switch from Sears to Amazon for a couple of pennies… the new had to be much better than the old.

If you were competing with yourself, or competing with your business – how would you attack?  Where is that weakness?  Fix that.  Don’t wait for the customers to discover that someone else does it for half the price or triple the value…  because it will be very hard to get them back.

If you liked this post you will also like 12 Questions for Any Business and 6 Keys to Leading Positive Change in Organisations.

Join Me on Social

2 Comments

  1. Hi Conor!: I was reading about retention and loyalty these days and it is said it’s much cheaper to invest in customer retention than acquisition, but many companies, even knowing it, still find it very hard to do so.
    The exercise of meeting the customer’s needs while adopting cutting edge technology and practices to deliver top services require tons of adaptability and daring.
    And there is also this time of transition between technologies that make companies think there will be market for everybody, -I’m thinking about Kodak- although often new customers, the interesting ones, do not need the “old way of doing”, and, at the same time, by doing
    the old way, companies do not meet the needs of even the more classic customers either because something smells old…
    This post brought to my mind your video on John Bezzos’ amount of time that leaders must spend in the present versus designing the future. Challenging!.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.