Monitoring social media can help subscription-based businesses. When Netflix raised prices for the DVD mailing services, customers weren’t happy. Many were cancelling their subscriptions, and those people were being vocal, too. Stock message boards (“NFLX”), blogs, microblogs were full of complaints.
The company ignored them. Then came the Qwikster idea – met with the same negative sentiment. Took the company several weeks to abandon the plans.
Damage’s been done, 800 000 people are no longer using the service. Today’s Twitter streams are just as negative about Netflix (including some NSFW keywords):
This is a great example where some form of social media analytics and sentiment analysis could have helped prevent a massive customer service problem.