More than twenty years back Reed Hastings & Marc Randolph came together and launched Netflix. Both tech enthusiasts wanted entertainment crazy Americans to be able to buy & rent DVDs from the comfort of their homes. So, they started a mail service called Netflix to buy or rent DVDs.
Eventually, companies like Walmart & Amazon started with the same service & Netflix started to lose its touch. That’s when Netflix started introduced online streaming. Online streaming faced some heat in the beginning like any other discovery that would break tradition.
Who’d have thought that this would change the way world watches anything today?
In the last 20 years Netflix has evolved with the ever-changing customer demands and behaviors keeping it always at the top.
Let’s have a look at key points of Netflix’ Marketing Strategy that we can all learn from.
Keeping Customer Needs & Behavior a Top Driving Factor
When Hastings & Randolph launched Netflix, the idea was to make entertainment lovers get their favourite DVDs from the comfort of their homes. Internet was slowly moving towards the age of emails & Netflix used this medium to run its business.
As soon as Netflix’ competition took the lead, Netflix introduced online streaming that pretty much rules the internet now.
Then entered the raving age of social networking sites. Netflix was one of the firsts to introduce Facebook connect in the year 2011 when a lot of brands were not even confident of having a social media presence.
Today Netflix has become a phenomenon.
“Let’s Netflix this weekend?”
Building on Original Content that Builds Exclusivity
You may be the same type of business but you can speak a different language and have separate methods. But you need to have something that nobody else has.
And that’s your content.
Netflix Originals have ruled the space with its great shows like Stranger Things, Black Mirror & Narcos.
Brand Content & Not the real Brand is the Campaign Hero
Big mistake that young marketers repeatedly make is to put the entire focus on the Brand. Brand is the hero of every communication, of every advert, of every collateral of every conversation! It simply won’t work & Netflix is a perfect example of how a reverse method works wonders.
Don’t use your brands to sell your product. Use your product to sell your brand! This works wonders and works every single time.
Netflix takes time to focus on its content & create campaigns to promote & engage audience to promote the TV show in question.
To promote Black Mirror Netflix launched an app called Rateme which was a complete downfall of the shows first season. They also made a web tool for promotion of Stranger Things.
Data Tracking & Analytics for a Great Experience
Netflix connects with you and makes your whole experience wonderful in ways that you will never realize. It tracks what you’re browsing, the time you’re browsing it at, what type of shows you watch at what time of the week, when do you rewind, how often do you pause and a lot more.
This helps them understand your personal choices and online behavior and helps personalize & better your experience.
Netflix may be one of the loved brands because they rule entertainment but it is also a successful case study because it gives marketers a perspective on how a strategy should be.