mistake

Holy, Netflix!

Source: http://www.businessinsider.com/holy-netflix-2013-9

Reed Hastings

Netflix’s stock just hit an all-time high of $313 a share.

This wouldn’t be so remarkable except for what happened two years ago.

Two years ago, after a remarkable multi-year run on the strength of a new video streaming business, Netflix stock blew through $300 a share for the first time.

Netflix, everyone was convinced, had discovered the Next Big Thing.

Netflix was on its way to becoming The Next HBO.

Netflix was going to disrupt and revolutionize the television business and make anyone who bet on it fabulously rich.

But then Netflix made a significant mistake.

Netflix announced that it was going to split itself into two different companies. One company would contain Netflix’s original DVDs-by-mail business. The other company would be the streaming business. Netflix was going to split into two companies, it explained, because the DVDs-by-mail business was a dying business, and the future was the streaming business.

Well, the market hated that idea.

Despite the fact that absolutely nothing at Netflix’s businesses had changed, the market destroyed Netflix’s stock price. The stock crashed by 75% in three months, to $65 a share. The company, some people said, was obviously going out of business.

Why did Netflix make this mistake?

Because Netflix is run by humans.

Extraordinarily talented, brilliant humans, but humans. And humans occasionally make mistakes.

But did the market conclude that the extraordinarily talented, brilliant humans who ran Netflix had just made a relatively rare mistake?

Nope.

The market concluded that the humans who ran Netflix were so unfathomably stupid that Netflix was obviously screwed.

That Netflix founder and CEO who had been lionized as a genius on the cover of all those magazines, for example?

!

Obvio usly an idiot.

Netflix was a terrible company, the market agreed. No price was too low for the company’s stock.

But now, a mere two years later, Netflix is up 400% from the low and setting a new all-time high.

How?

Did Netflix pull off some magic recovery?

Did Netflix introduce some revolutionary new product that no one saw coming?

Nope.

Netflix just did its thing–the same thing it was doing when the market threw up in disgust and pulverized Netflix’s stock price.

Netflix just kept investing in its streaming business.

And, just as many long-term Netflix investors had hoped, the streaming business has turned out to be a pretty good thing.

So, what’s the moral of the Netflix story?

The same moral as the story of Amazon, Facebook, Google, and many other excellent companies:

Ignore Wall Street.

Wall Street is so hyperactive and bi-polar, and so obsessed with meaningless short-term results, that Wall Street causes countless pretty good managers and companies to worry about all the wrong things.

Want to create the most possible value for shareholders?

Then start by creating the most possible value for your customers.

Put your customers first, and, over the long haul, your stock price will take care of itself.

Well done, Netflix!

 



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Tuesday, September 10th, 2013 news No Comments

drag2share: Bank of America’s Twitter Account Is One Really Really Dumb Robot

source: http://feeds.gawker.com/~r/gizmodo/vip/~3/O7yDobnyHsg/bank-of-americas-twitter-account-is-one-really-really-713634226

Bank of America's Twitter Account Is One Really Really Dumb Robot

It’s always nice to get a response from Company X’s official Twitter account when you rage tweet about how Company X is so terrible and awful and that you’d never do anything with them again. It seems like they care about you! It seems like they want to help! It seems like they’re… human. Too bad they’re usually just stupid robots like this Bank of America Twitter account.

It’s a hilariously epic mistake by the official BofA Help Twitter account. When Twitter user @darthmarkh tweeted about how he was chased away by cops after drawing chalk in front of a New York City Bank of America that was pointing out how BofA was taking away people’s homes, the BofA Help Twitter account decided to jump in and asked @darthmarkh if he needed help with his account… completely ignoring the fact that @darthmarkh was eviscerating Bank of America right in front of its face.

It gets worse for BofA though. When other people jumped into @darthmarkh’s replies, they all get mentioned by the same BofA Help Twitter account with the same generic answers. It’s completely embarrassing because NO ONE is actually asking for help, they’re all just destroying Bank of America (with the ammo Bank of America is providing no less).


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Tuesday, July 9th, 2013 news No Comments

drag2share: Facebook vs Pinterest – FIGHT

source: http://feedproxy.google.com/~r/businessinsider/~3/mR3DEFwHpT0/what-is-a-facebook-fan-worth-2013-4

How Pinterest Crushes Facebook (readwrite enterprise)
While both Facebook and Pinterest offer deep customer segmentations and user engagement, it would be a mistake to target audiences in the same way across both networks. Read >

facebook vs pinterest


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Thursday, April 18th, 2013 news No Comments

The Astounding Growth Of iPhone Profits (AAPL)

Source: http://www.businessinsider.com/chart-of-the-day-apples-gross-profit-per-product-2012-8

Make no mistake about it, Apple is now the iPhone company.

This chart, based on information from Apple and estimates from our own Henry Blodget, shows how gross profit from the iPhone has exploded since it was introduced in 2007. It basically overshadows profits from all other divisions at Apple.

Blodget estimates gross profits will be $67 billion in 2014, up from an estimated $44 billion this year.

Apple profits per product

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Friday, August 3rd, 2012 news No Comments

RIM’s Twitter Campaign Goes Horribly Wrong #BeBold

Source: http://www.businessinsider.com/rims-twitter-campaign-goes-horribly-wrong-bebold-2012-1


RIM’s latest marketing campaign is based around a squad of cartoon characters called the Bold Team, accompanied by the #BeBold hashtag on Twitter. It wasn’t a good idea.

Why? Because the campaign is blowing up in RIM’s face. Spectacularly.

The vague hashtag, plus the cheesiness of the cartoon characters, prompted the masses to hijack #BeBold. So now, just one week after McDonald’s reminded marketers everywhere how NOT to do a Twitter campaign, RIM makes the same mistake. It’s getting ripped on by its own hashtag (via Gizmodo).

Take a look at what people are tweeting. It entirely consists of folks railing on either the cartoon, or the company as a whole:

rim twitter bebold

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Tuesday, January 31st, 2012 news No Comments

Google Violated Its Own Evil-Free Policies While Promoting Chrome [Google]

Source: http://gizmodo.com/5872566/google-violated-its-own-evil+free-policies-while-promoting-chrome

Google Violated Its Own Evil-Free Policies While Promoting Chrome

The first rule of not being evil is: don’t do things you think are evil. So it’s a shame that Google has violated its own policy by giving bloggers cash in exchanges for writing about its browser, Chrome.

Google, or perhaps more likely its advertising firm Unruly, has managed to sponsor bloggers to chew the fat over Chrome, reports SEO Book. Some of them talk about how great Chrome is for small businesses, and most contain a Google promo video.

Meh, that’s kind of fine, right? Mmm, the thing is, paid-for links to the Chrome download page would be just fine according to Google’s rules — as long as they were tagged up as “nofollow” links. That’s supposed to let PageRank know that a link was paid for so as to exclude it from search rankings.

But, uh, some of the links didn’t follow that guideline.

OK, so this isn’t too bad: it isn’t like Google is culling small kittens, granted. And it could in fact be an innocent mistake on the part of the bloggers. But what it more likely indicates is that Google is getting so large that it can’t help but trip over its own policies. And at that point, it becomes difficult to hold an entire organisation up to its existing ethical codes.

So, don’t be evil. At least, if you can remember what you mean by evil. [SEO Book via TechCrunch; Image: brionv]


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Tuesday, January 3rd, 2012 news No Comments

A False Groupon Offer Ruined Christmas In This British City

Source: http://www.businessinsider.com/groupon-uk-christmas-york-2011-12


york

A false Groupon offer for a Santa’s grotto in the English city of York has lead to the resignation of one of Santa’s elves, reports the Telegraph.

Groupon mistakenly sent out an email to parents saying that the grotto would be offering a festive train ride. It wasn’t, and when 2,000 families turned up with vouchers from the website and learned of no train ride, it wasn’t a pretty scene.

It is reported that the grotto’s staff received so much abuse from angry parents that one of Santa’s elves resigned, unhappy at the treatment he had been subject to.

It is thought that Groupon may have confused the grotto in York with another one in the nearby city of Hull, which did have a train ride.

The mistake comes as Groupon is under investigation by the British Office of Fair Trade with the company reportedly violating 50 advertising regulations this year.

The Telegraph reports that the company could be taken to court over the violations and may face both criminal and civil charges.

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Friday, December 2nd, 2011 news No Comments

"Success Comes Through Rapidly Fixing our Mistakes Rather than Getting Things Right the First Time" [Quotables]

Source: http://lifehacker.com/5842592/success-comes-through-rapidly-fixing-our-mistakes-rather-than-getting-things-right-first-time

"Success Comes Through Rapidly Fixing our Mistakes Rather than Getting Things Right the First Time"This quote comes from Tim Harford, who argues that success is really just a product of failure. He believes we have to try, fail, and quickly correct our mistakes in order to properly succeed. Because failure is just an inevitability, no matter who you are, the key is to get better at recovering from it rather than trying to avoid it altogether.

Harford suggests that there are a few key things we need to pay attention to when dealing with failure. First is avoiding the denial that we’re wrong. He says, “It seems to be the hardest thing in the world to admit we’ve made a mistake and try to put it right. It requires you to challenge a status quo of your own making.” Sometimes we’ll go so far as to chase our losses just to avoid failure, as if accepting the failed situation will make all our effort worthless. In the end, we can’t predict what’s going to work. We can only experiment with trial and error. Failure is an important part of this process, and accepting it makes us capable of actually finding success in the long run.

For more information, check out the full article on The 99 Percent. For another take on the same idea, check out this article in the New York Times.

Why Success Always Starts With Failure | The 99 Percent


You can follow Adam Dachis, the author of this post, on Twitter, Google+, and Facebook.  Twitter’s the best way to contact him, too.


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Thursday, September 22nd, 2011 news No Comments

Two perfectly executed viral marketing programs in the SAME day – #bestbuy #jetblue #all-you-can-jet

Perfectly executed viral marketing program – BestBuy Samsung HDTV pricing “mistake”: 2 million google search results and 361k+ blog results in about 12 hours – ZERO COST.

2-million-google-results-bestbuy-samsung-hdtv

google-blog-search-bestbuy-samsung

google-trends-bestbuy-999-hdtv

#jetblue #all-you-can-jet

31 million search results and about 10 million blog posts in 7 hours

jetblue-all-you-can-jet-search-results

jetblue-all-you-can-jet-blog-results

google-trends-jetblue-all-you-can-jet

original @Jetblue tweet that started it all

jetblue-tweet-all-you-can-jet

Related:

http://industry.bnet.com/media/10003678/jetblues-all-you-can-jet-promo-shows-power-and-peril-of-free-media-channels/

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Wednesday, August 12th, 2009 digital 2 Comments

Samsung 52 inch HDTV $9.99 at BestBuy – purchase receipt below (6:21a eastern time August 12, 2009)

Buy Link at the bottom of the post

best-buy-hdtv-receipt

Click for product page: Samsung – 52″ Class / 1080p / 120Hz / LCD HDTV LN52A650 SKU: 8749287

product-page-samsung-hdtv-pricing-mistake

Order is still good as of 12:23 pm EST August 12, 2009.

bestbuy-order-details-still-good

BestBuy knows digital and social media. CMO Barry Judge tells it like it is.

Related:

http://blogs.moneycentral.msn.com/smartspending/archive/2009/08/12/customers-irate-about-10-hdtv-ad.aspx

http://abcnews.go.com/Business/story?id=8311580&page=1

http://www.washingtonpost.com/wp-dyn/content/article/2009/08/12/AR2009081202660.html

http://adage.com/article?article_id=138469

http://www.nbcwashington.com/around-town/shopping/Best-Buy-Bummer-999-HDTVs-an-Error-53043522.html

http://blogs.zdnet.com/gadgetreviews/?p=6697

http://www.cnn.com/2009/US/08/13/bestbuy.mistake/index.html

http://www.myfoxdc.com/dpp/news/081209_best_buy_offers_999_hdtv_by_mistake

http://industry.bnet.com/media/10003678/jetblues-all-you-can-jet-promo-shows-power-and-peril-of-free-media-channels/

http://www.kktv.com/home/headlines/53067682.html

http://www.wftv.com/countybycounty/20371068/detail.html

http://www.shoppingblog.com/blog/8120912

http://www.cepro.com/article/best_buy_accidentally_lists_1700_hdtv_for_10/

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Wednesday, August 12th, 2009 digital 2 Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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