Marketing Strategy of Netflix
Do you ever ‘photoshop‘ your images before posting them online? – When in reality you want to ‘EDIT/ALTER’ them.
Did you ever ‘Xerox‘ your documents? or Did you get a ‘Photocopy‘ or your documents? – I guess most of you would prefer using the former way of saying.
There are so many products where the name of it is what the market calls it. And the same is what has happened with “Netflix“.
A DVD rental company founded in the year 1997 has become a leading media-streaming giant with over 130+ million subscribers.
Today Netflix has become a phenomenon.
“Let’s Netflix this weekend and chill! “ – This is what we normally say when we want to relax on the weekend with friends, family or alone.
So, what really helped the brand achieve the position that it is at today?
It’s a proper amalgamation of business strategy and digital marketing strategy that helped Netflix become a household name.
Let’s check out how did they do it.
PILLAR 1 – CONTENT STRATEGY:
CONTENT ORIGINALITY LEADS TO BRAND EXCLUSIVITY :
In the business of entertainment, where you are competing with many businesses similar to you, the only differentiating factor between you and them is the content that you provide to your audience.
Netflix was smart enough to figure out this trick sooner than later and started producing its own original content under “Netflix Originals”
Shows like Stranger things, Black Mirror and Narcos are few names from a long list of amazing shows which have helped Netflix become the brand it is today.
Netflix didn’t just blindly started creating shows for the customer, the company invested heavily in market research.
The company used market research to understand what its audience wanted, what type of shows/content do they like and whether they like their already produced content.
Giving customers what they want is what made Netflix hit the jackpot.
PILLAR 2 – Technology:
User Experience is the key
Netflix connects with you and makes your whole experience wonderful in ways that you will never realize.
From tracking down your Netflix browsing activity to the time you spent on browsing, to what type of shows you watch at what time of the time, how often do you pause and are you skipping the intro… and a lot more.
All this info is used by Netflix to enhance the customer’s user experience.
Their algorithm helps them understand your personal choices and online behaviour and helps personalize & better your experience every single time you log in.
Personalization at its best :
Tools like Optimizely and Adobe Experience Cloud help Netflix personalize the content for us. This content personalization makes the homepage of every user look different from each other.
Users would be able to see all the shows they last viewed on their homepage, which in a way enhances their viewing experience.
PILLAR 3 – MARKETING:
Market the Content and it will help you build the brand
Once the content creation is done, now comes the promotion bit.
Netflix didn’t just produce good shows, it also used advanced digital marketing techniques to acquire new customers and retain existing ones. Marketing is one of the most important pillars of the marketing strategy of Netflix
Let’s see how they created a Digital Promotional strategy that worked wonders for them.
Don’t ever use your brand name to sell your product. Use your product to sell your brand!
Netflix takes time to focus on its content & create campaigns to promote & engage the audience to promote the TV show in question.
For example – Radhika Apte, a leading Bollywood actress has been featuring in almost every Netflix originals shows in India. This gave the trollers an opportunity to troll her for being the only actor of choice on Netflix.
Netflix used this opportunity to become a part of the conversation & created a campaign around Radhika Apte for Netflix. This has turned trolling into serious appreciation & has gained more popularity for being witty.
Check out Netflix’s response to the trollers
USING INSTAGRAM TO IT’S MAX:
Instagram has become the new favourite baby for companies to promote their brand and interact with their customers.
Netflix is not the one to refrain itself from using the same to promote its shows. Netflix maintains a casual communication to interact and often uses memes to keep the communication light and engage with their target audience.
The marketing mix of Netflix consists of 3 main pillars, Content strategy, Technology and Marketing. It’s the proper amalgamation of these three that has helped the brand to become what it is today. It has 130+ million subscribers and is very well on the way to make to achieve 250+ million subscribers.
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