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Socialized!: How the Most Powerful Businesses Harness the Power of Social by Mark Fidelman

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Welcome to the Social Business Revolution

In late 2011, Netflix, an on-demand video service that streams movies and television programs over the Internet or ships DVDs via mail, announced it was going to divide its offerings in two. No longer could you get both DVD mail delivery and streaming movies in one package, you now had to purchase two separate subscriptions. Appalled, Netflix customers swiftly took to their laptops and mobile devices to voice their displeasure on social media. In all, eighty thousand negative comments were recorded on Netflix blogs, Twitter, and Facebook, and within months the company had lost eight hundred thousand customers and two-thirds of its market value.

Netflix CEO Reed Hastings was shocked by the response, ...

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