Blockbuster is unofficially, officially bust. This is no surprise to those who have watched from the sidelines as Blockbuster slid from a prominent Brand with bite to a Brand that no one understands. At 8 cents a share, market cap is around $15million. They are expected to declare bankruptcy in September….
I am a fan of the Blockbuster empire both as someone who grew up in Dallas and as a lesson for retooling businesses. At one point BBI ruled Hollywood and dominated Main Street. Much like 7-11 and Starbucks, Blockbuster stores were on every corner. Independent video shops were largely forced to consolidate or perish. Blockbuster starved their competition out in many markets.
What follows is my recommendation of the day – an actionable step Blockbuster can take, right now, to get back on track. It probably won’t save them from bankruptcy, but perhaps it will give you something to think about in your business. I’ll keep this going in no particular order of importance until BBI declares or gets bought out.
Today’s BBI tip:
What’s with the website? I have no idea where you want me to click when I land on the site. Do you want me to sign up with the Super Mario Brother’s character or do you want me to look at the movies you’ve put in front of me? I really have no idea.
In tests of a similar service, the barrier wall as a landing page proved most effective – here is the example:
There is no movement on this page. The group who tested this page tested it against a page with long copy (a whole bunch of text) and a regular member-type landing page (like what blockbuster has). The static sign up page won, hands down.
So my first question for the website team, have you tested what generates the best ROI? My second question, which should probably be the first, is do you know what you are selling and to whom? Landing pages should change based on the audience and intention. We have micro targeting available, there’s really no reason not to use it!
Action item for today: determine the audience you want to target with your landing page and test that landing page for ROI.
Tomorrow: stop with the focus groups we don’t know what we want until we buy it….
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