Netflix Offers $1 Million for Winning Idea
Netflix announced last week a $1 million incentive for customers who suggest ways to improve its movie recommendation system. The prize is part of a contest to help the company increase its competitive edge with more accurate technology for decoding consumer tastes. The winner will be the entrant whose idea helps advance the company's current software so that their recommendations are at least 10% more accurate.
Successful word of mouth marketers know the most useful customer feedback -- the kind that happens naturally -- can't be bought. There's no denying, though, that $1 million is a surefire way to generate buzz. And with some luck, it might end up improving service, too.
