Netflix is a popular media service provider in the world. They handle it to attract new customers. They also manage an existing one hooked to the platform.
The unique content is the brand’s USP. Marketing strategy served to improve brand visibility.
Netflix helps you to learn about content engagement and keeping the audience connected. Netflix is the best example of making smart use of Big Data and Social Media.
Only a few companies led the entire industry and still managed to stay ahead of the curve. The video services had 195.15 million paid subscribers worldwide as of the third quarter of 2020.
Here are content engagement strategies to learn from Netflix:
1. Focus on the audience data
There is a lot to be considered while doing content marketing. You will be focusing on content creation, and it’s promotions, conversions etc.
It is challenging to know how to prioritize content marketing strategies.
First, you should get to know your customers. People try focusing on engaging the audience with posts, videos etc.
But are they going viral on social media? Are people getting connected with your brand? Matters more Posts and videos with no sharing are worthless.
By knowing your audience, you can produce customer needed contents. Additionally, it helps you to establish a connection with the audience. Focusing on customer information can increase sales.
Check out the keywords your audience using to search that are related you your business:
- Check which blogs are they reading
- Track your popular pages to see if topics are matching their interest.
- Use Surveys
- Track on industry statistics.
- Get enough data and sustain to create content that customers love to read.
2. Know your competitors
Competition analysis is a major aspect of any marketing strategy. One of the best market research tools is Porter’s Five Forces.
In fact, the Five Forces are an integral part of every B-school curriculum. Students learn about the different tactics brands apply to improve their sales and gain an edge over the peers.
Porter’s five forces is a market research model. It gives precise details of competitive forces that have the scope to grow an industry. It is a vital part of any brand to get a better insight into the market and their field.
This refers to the ratio of companies that are living when you enter the market. They are much familiar with customer needs and requirements. They can even influence buyer decisions.
Having expertise is an asset that a brand can earn overtime. Current customers are free to choose alternative brands.
Here you get a list of companies and competitors details that can threaten your business.
Here you look for possible brands that may enter the market. Research on the market situation and economic condition of the country. Additionally, trace on the demanding trends and supply in the market.
Most companies analyze the market to know if their service would succeed or not. A thriving industry not just attracts more business but also more competitors.
Having a track of potential competition helps your business to be on-trend.
This refers to the accessibility of products/services in the market. In this, you get knowledge on how on hand your brand is. Here you can record about suppliers and wholesalers.
With each new add on to the supply chain, there is a rise in the final cost. So for a business to succeed, it is essential to find affordable alternatives.
This refers to the purchasing trends and control of the brand’s target audience. The market research gives you great insights. You can calculate the price of the product and the success rate in the market.
Here you can examine the customer metrics to check the niche needed to enhance the sale. Analytical Tools can help you get valuable data on customer engagement with a brand.
Threat of Substitution
Present the competition is high with more number of players stepping to the industry. In such conditions sticking on the market and trends is essential.
The threat occurs when customers shift from one brand to another. This may happen due to
Pricing, low marketing etc.
Even it can add on:
- Accessibility of the brand to the customers
- Easiness to find an alternative brand
- Unicity of the product/service
- Cost of alternative
- How it affects the company’s ROI?
3. Create only original content
Netflix funds in unique content so much that it can market itself. Marketers should know to fund on the contents that have proven facts with their audience.
In 2016 Netflix added 1.43 million new U.S. paying subscribers. 2017 Netflix intends to spend $5 billion on content. For context, in 2016, ESPN spent $7.6 billion on content.
Such a high investment is only to grow competition for streaming video services.
4. Promoting content with a focus on traffic and conversion
Every marketer has an in-hand experience with content that doesn’t perform well.
Creating content is not rocket science. But if you fail to understand the objective behind creating content, then it can be a mountain climb.
You need to know how to promote content to get relevant traffic and conversion.
People do not subscribe to Netflix because it is a streaming platform; they sign up for stories. That is nothing but content inside Netflix.
Netflix show first episode in IGTV or Instagram stories. They also do behind the scenes live streams.
The more data you have about customers, the better you can create then the content they want to see.
If the audience is engaged with your content, then there is a high chance of a conversion.
Social Media platforms are best for advertisement. Most people rely on social media to clear their boredom. Keeping them engaged with unique content can help you to keep them hooked with your platform.
Platforms like Instagram, Facebook etc. are doing well to increase brand visibility. Additionally, they get the audience connected with the brand.
2. Brand Voice
Netflix, like a boss, shows the reason why social media is vital for a two-way conversation. As I mentioned above, social media platforms are best for increasing brand awareness. Netflix is making the best out of Social media platforms. They do not think of playing it safe on social media; instead, the tone is friendly.
Staying on trends, the brand has come up with memes about their shows, and the result is fantastic. The strategy executed by Netflix is working.
Placing the brand as a friend to its followers has been a rare marketing strategy for Netflix. Thus creating a sense of similarity and companionship with the brand. The lesson to learn from this is taking a road less travelled can take you to a great destination.
3. Great UI experience
Netflix provides high-quality content and also provides a better user experience. In other platforms scrolling down and viewing categories can be cumbersome. But Netflix it’s just a piece of cake.
The interface works great on TV, Mobile and Laptops. It helps users to check what is in store without any difficulty. Most people browse Netflix on mobile rather than on a laptop.
The USP of the interface are:
- Simple, unique and voguish
- User-friendly experience
- Contents are highlighted
- Trailers and descriptions benefit the user to watch the show.
Netflix offers an engaging experience to diverse people worldwide. They are concisely working on enhancing their service by testing every bit. Netflix makes use of vast amounts of data at its best. By making use of data and meeting customers needs even, you can stand out in the competition. Exploring new ideas will help you to come up with the best results in return. You can improve your brand by adopting lessons from Netflix.
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