This week Blockbuster announced that it was closing the chain’s 300 remaining U.S.-based retail stores, as well as its distribution centers.
Here are eight things that the Obama Administration could learn from the fate of the once popular video store.
1. Outdated, faulty technology will doom your operation.
A native online consumer market only has so much patience for outdated, non functioning technology when they are trying to purchase a product. Just ask Amazon.com.
And moving an industry online is harder than it looks.
Especially when you are the last one to arrive.
2. Options don’t matter if the product sucks.
Millions are set to lose their Healthcare across the country and are not happy about it. The plans offered by the healthcare exchange are bittersweet to many who never wanted change in the first place.
3. Getting members is hard, losing them is easy.
From security flaws to complaints of overly intrusive medical history questioning, one of Obamacare’s largest ongoing hurdles will be convincing people to trust the system with their personal information.
4. Prices matter.
Many Americans and most businesses will be paying more for healthcare because of Obamacare. Americans do not like paying more for things in general.
5. Hidden fees are never popular.
There are many taxes that go along with Obamacare. Many of start in 2014, it will be interesting to see how the public reacts.
6. Adaptation after-the-fact is hard, and hurts your brand.
A horrendously flawed launch doomed the healthcare exchanges to months of scrutiny and quick fixes will not be good enough for a fundamentally flawed system.
7. You need to hire competent people to run your operation.
A new round of scrutiny is beginning that focuses on the Obamacare Navigators and the lack of background checks and competence for those who will be assisting Americans in implementing their healthcare plans.
8. Using animals to sell your product is cute, but not always effective.
I mean, who doesn’t like the Adorable Care Act? But did anyone sign up because of it?