Blockbuster's attempts to boost customer and online service came too late to prevent bankruptcy. Instead of sticking with a static course of action, forming a flexible plan for the future can secure your company's success.
In this issue:
- The Blockbuster Moment: Critical Lessons For Businesses Of All Sizes
- How Your Company Can Prevent Becoming A Blockbuster
- The 60-Second Close: How To Ensure You're Not Late To The Game
1. The Blockbuster Moment: Critical Lessons For Businesses Of All Sizes
- After a directionless decade of misery, Blockbuster Inc. filed for bankruptcy in September. Once a key player in the movie rental industry, Blockbuster's downfall sprung from the same issue that affected the Yellow Pages, Barnes & Noble, newspapers and other retail and service industries. It got in the game too late.
- While its customers connected to the Internet and sought easier ways to rent movies, tiring of poor in-store experiences, Blockbuster never formed a clear vision of the future.
- Blockbuster's collapse spotlights many critical issues that businesses of any size and category should address to prevent an upstart from cutting them off at the knees.
2. How Your Company Can Prevent Becoming A Blockbuster
The rise and fall of Blockbuster offers lessons for any company that interacts with customers. We urge your company to tackle these four Blockbuster-prevention questions immediately:
- How do you envision your customers' wants and needs five years from now? Where will they be, and how will you be front and center with them?
- How do you envision the promotion channels for your product or service changing five years from now?
- Has your company established a public relations strategy that emanates outward from the Internet?
- Do you provide unbeatable customer service that exceeds customers' expectations? Could a push-button kiosk replace your product or service, if no customer service is preferred to poor or average customer service?
3. The 60-Second Close: How To Ensure You're Not Late To The Game
- We hope Blockbuster climbs out of its financial hole, but meanwhile, the company leaves us with priceless public relations lessons for every business to ponder.
- We can help you set up a public relations strategy and vision for the future, while developing programs that provide great customer experiences. And more importantly, we can help ensure you're not late getting in the game.
- If you're ready to start looking at your future, then call us. We can show you how to get there ... faster than ever.
Jason Mudd, APR
Axia Public Relations