It was 5 years; almost to the month that Trade Me made its ill-fated blunder. A very costly blunder, a blunder that continues to hold strong memories within the minds of many in the real estate industry.
Trade Me implemented a new pricing policy. That in itself was not the issue, as price changes are a part of any evolving business especially as 5 years ago digital marketing was still evolving and establishing itself as a core element of property marketing. The real issue that took a poorly-thought-out pricing strategy and turned it into a costly and damaging blunder, was the handling of the communication coupled with the reluctance of Trade Me to engage with its customers and really understand and acknowledge how little they understood the business they had been operating in for 7 years.
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