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3 Reasons Why Subscription Businesses Fail - Nir And Far
Nir And Far: Business, Behaviour and the Brain
The Action Phase of the Hooked Model
Netflix beat blockbuster by busting the incumbents habit through ease of use. Netflix is aware of this problem and is trying to simplify selecting a movie or TV show. When the habitual action of your product becomes more difficult to use than other options for satisfying the same need, your subscription business is in trouble. You're at risk of losing consumers at the action phase of the hooked model. We'll see if Nathan has any thoughts on why these kind of companies fail.
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