Want to reduce screen time? Let me read it for you :)
Every streaming service is striving to make it big out there. But very few have grown tremendously.
Its no doubt that Netflix is one of them.
Netflix reinvented the way we watch videos. We once went to the movies or rented DVDs from a local store. Now, we enjoy them from the comfort of our homes.
Netflix definitely has some great marketing lessons for every OTT business hoping to grow. OTT Marketing is about creating and maintaining demand, relevance, and brand image. You need an efficient marketing strategy for your streaming service to,
- Keep your customers engaged: Engaging your users is key to the success of your streaming platform because it determines your profitability. When users are not engaging with your platform, it probably means they are busy watching your competitors’ content. And that’s the worst thing for your business.
- Build a relationship with your audience: You need to build a relationship with your audience to increase brand loyalty. Moreover, loyal users are the word-of-mouth marketers for your streaming service.
- Acquire new users: Through marketing, users get to know about your streaming service and its content. Simply put, marketing creates brand awareness and makes your streaming service stand out. The streaming industry is competitive, and you need to have a convincing voice to win the audience.
We all know that Netflix has its own exclusive Oscar-worthy content like The Hose of cards and The Irishman, but how did they take to millions of eyeballs worldwide? You are here to know.
On this page
1. Use data to make decisions.
It’s not surprising that Netflix collects data about what videos you watch. But interestingly, they also collect data about when you pause, rewind or fast-forward when you start watching a series and complete it. Do you binge-watch, or how frequently do you watch the episodes of a series? What devices do you prefer to watch a particular type of content, and much more?
What do they do with all this information?
- They acquire/produce content that will engage users
- They make relevant recommendations to keep users hooked
- They personalize to maximize engagement.
2. Give a great user experience
When designing your website and apps, consider your audience. Guide users through your website and apps with clear navigation.
The right user experience begins with onboarding a user because this is the first experience your user will have with you. Even if you don’t impress them, ensure the experience isn’t disappointing.
If you see, the onboarding process is quite straightforward on Netflix; a user signs up with their email address and password, then they are prompted to select their plan, and then personalization comes in – users are asked to rate movies and shows. Netflix recommends content based on their ratings.
Once they spend some time watching shows and movies, their preferences become more refined, and they receive more accurate movie recommendations.
Netflix has an enormous selection of movies and series, but its user-friendly navigation makes it easy for anyone to use. This is because they have organized their content in such a way that even a child can find what they want.
Moreover, metadata plays an important role in enhancing the user experience of a streaming service; users can find their favourite shows with a simple search, which optimizes their experience on your OTT platform.
3. Give your users a taster
Netflix ditched its free trial in 2020. However, the free trial helped them acquire tons of users. A free trial can help you showcase the value of your content to users during the trial period. Moreover, you can use their email addresses to promote your content until they finally understand the value of your service and become subscribers.
Apart from free trials, gift cards and coupons can also help you win customers. For instance, you can add a gift card for one month’s subscription to the purchase of a smart TV by collaborating with brands or sellers.
A referral coupon is another great way to acquire new customers and, at the same time, make your existing customers loyal advocates of your brand.
4. Nudge the users
To build a long-term loyalty and retention strategy for users, ensure customer data is unified from all channels. Collect customer data right from their very first visit.
Getting your first-time users to enable push notifications allows you to run personalized, contextual, and targeted campaigns to encourage them to subscribe to your service.
Moreover, sending push notifications can increase engagement rates and thereby retain them.
Also, use email messaging to send personalized recommendations and collect periodic feedback.
5. Subsidize plans with ads (Upcoming Netflix Plan)
Subsidize your subscription plans with ads. This is something that Netflix is planning to do and has already partnered with Microsoft to enable targeted ads on their content.
By subsidizing your plan, you are not only making it attractive to users on a budget, but you can also prevent password sharing. Currently, users share their passwords and compromise the personalized experience to save a few bucks. But if you are already subsidizing the plan rates, people might think about having their own accounts for a more personal experience.
6. Create a buzz on social media
The popularity of social media and how millions of users use it to pass their time make it a key part of marketing your streaming business.
Promote your existing shows with trailers and a clear call to action. Also, share behind the scenes of your upcoming shows to make audiences interested in the show.
The ultimate aim is to make your audience curious about your content and make them want to spend time with your streaming service.
7. Winback lost users
To every subscriber that cancels their subscription, Netflix sends them periodic emails explaining what they are missing.
From trending content to personalized recommendations, Netflix has a way to lure them back.
People aren’t won over by just having great content. You need to market your content to the people to win their attention.
Create marketing campaigns that no one else can match, just as you do when creating streaming content.