OK Netflix - did you fire your entire PR department? First you make crucial mistakes in communicating (not) very important changes to customers. Then, a month in, after admitting you didn't communicate appropriately but explaining the need for the change - you ........... undo it? The price hike remains, but customers are back to dealing with one customer rather than two. I don't think the price even matters anymore. It's been bad PR from the start - leading right into bad recovery (again, bad PR).
With Netflix stock down 60 percent over the past three months (only three months!), it seems difficult to imagine an effective recovery - ever. It will take lots of PR (good PR), and lots of butt-kissing (an early PR term). If I worked for Netflix, I would initiate some pretty intimate communication with their remaining customers to ensure they stick around, and then working to woo back those who left. Being undaunted by the anticipated rejections, I would also go after new customers, explaining the many benefits to being a Netflix customer compared to going elsewhere. My final step in this process? Never jerk my customers around again!
Netflix needs to now be constant, consistent and cool - but not too cool. They need to be approachable and willing to meet their customers needs. And they can't just tweet about it - they need to continually satisfy their customers and, most of all, put their remaining money where their mouth is.
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