Now that Netflix, the online DVD service, has gotten us all good and hooked, they are upping their price a whopping 60%! But Netflix users are not taking the unprecedented price increase lightly. Neither is Wall Street. While the Netflix users are burning up Facebook, Twitter and the blogosphere with their vitriolic complaints. Investors are ecstatic.
Essentially, Netflix is now offering a bare-bones DVD-by-mail plan while increasing the prices of its DVD-and-streaming combo plans. Not a terrible move. After all, the stock price is climbing due to this business decision. But so is the grousing.
Take this snarky tweet from a Netflix customer: “Dear Netflix, As much as we love the “cerebral romantic comedy documentaries” genre you suggested, paying double is insane.” Or, “Amazon prime... Here I come. At least they care about customer costs. We canceled today and won't be back."
People from Delaware to Dallas are royally outraged. Which makes this the perfect opportunity for Netflix to use Social Media to fight Social Media. Rather than ignoring the complaining, they can be proactive. Maybe use the Netflix Facebook page to mend fences. Couponing and specials could soothe the savage breast. Perhaps a loyalty rewards program. Better yet, an honest explanation.
After all, a web-based business model that specializes in instant content streaming should be able to address dissatisfied customers…ummm…instantly. Or is that asking too much?
