Have you ever wondered about the rise of the brand Netflix?
What started as a DVD-delivering service has grown into streaming and creating their own productions such as the hit, “The Crown”. Netflix‘s humble beginnings started as a simple DVD service whereby a customer could order a DVD online and have it delivered to their house. It was cheaper and there was no need to walk or drive to the nearest video store. A convenience for the consumer and a success for Netflix. But what has given them their substantial rise was video streaming. By providing an ever growing selection of titles to be viewed via the internet with a monthly fee, Netflix was able to effectively expand their brand by offering flexibility (watch it anytime and anywhere) and convenience to viewers, all without commercials.
The key to their success was following trends and monitoring what people wanted and what technology could dictate at that moment – good social media marketing. Netflix has carefully managed what it takes to build a successful online brand by doing the following:
- They have mapped out their journey and have taken steps to overcome obstacles by using analytics to understand what their consumers want. Trends are made visible with the data collected.
- They promote communication with their consumers. Personal ratings of shows given by consumers is made easy and is valued. Content is highlighted to a consumer within Netflix that is based on their past viewing habits (ie. since you watched this…you may like this).
- They know their competitors (i.e. network TV) and are able to keep one step ahead of them. The cost of the monthly fee for Netflix is much cheaper than cable and they produce original content which is largely influenced based on the data they obtain through their analytics.
- They know what they are selling – ‘Movie enjoyment made easy‘. They are selling simple, convenient entertainment, period.
Personally, I love Netflix. The ability to watch a movie, an old television series or an original production all without commercials is well, superb. Sure I can PVR a show on TV but then I have to skip through the commercials which is a task that takes the fun out of just sitting there and viewing something. With the automatic loading of the next show on Netflix – no need to use the remote – I can spend an evening sitting on the couch watching a series without moving a finger – pure decadence.
Has Netflix revolutionized the way we watch entertainment. What are your thoughts? http://bit.ly/2lbdTgO
Is the success of Netflix the death of cable TV? http://bit.ly/2lbdTgO