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Netflix latest marketing strategies to avoid bankruptcy

Founded in 1997, Netflix offers online movie rentals with fewer than 1,000 titles. It quickly pivoted to a subscription model and, in 2000, launched a personalized movie recommendation system. By 2005, Netflix had more than 4.2 million subscribers and began working on video recommendation algorithms. Finally, in 2007, Netflix launched a streaming service and original content creation. As of 2016, Netflix had more than 50 million subscribers, a story that continues today as it establishes itself in the video-on-demand industry.

Startups rarely survive decades while taking their business models into uncharted territory and making risky bets on the future. But Netflix is ​​the giant exception in this case!

Netflix began by renting out DVDs by mail and challenging Blockbuster's business model. It quickly launched a subscription service model that differed from traditional VHS tape rentals.

While the subscription model is unprecedented and a big bet, Netflix knows it won't be offering DVDs to subscribers for the next 100 years.

Netflix CEO Reed Hastings has long believed that in the next decade, most of their product will go directly on the Internet. So they turned to stream!

It started as a streaming platform that licensed movies from production companies. Similar to how music streaming platforms like Spotify license their music catalogs from record labels.

But this model has inherent flaws. You see, Netflix can only license a movie a year after it's released and only 12-18 months into "free TV."

So what now? Well, Netflix is ​​in a tough spot. So it turned to what it learned during its DVD rentals.

In the late 1900s and early 2000s, people rented DVDs to watch seasonal content, such as TV shows like Friends and Seinfeld, so that they could watch episode after episode.

Netflix figured out why not to replicate this model. As a result, they shifted their focus from licensed films to TV series, releasing an entire catalog of on-demand and mobile content.

It leads to a binge!

Netflix and a cold world!

Here's the problem - binge-watching in the entertainment world. It's a pure Netflix phenomenon.

Beyond that, Netflix has another problem.

As the streaming space eventually develops, stronger players, especially production companies, must enter the market. So Netflix must prepare

In 2013, Netflix again developed into a full-fledged original content production company. Her first project was a house of cards.

Netflix spent as much as $100 million on the project, but there's no guarantee it will be successful. But as we know, their gamble paid off. Binge-watching bets too

It has worked out very well for Netflix because its total bet is on getting more subscribers to subscribe. As Well, let me explain.

You see, Netflix has made money from subscribers to their platform since the beginning. Once subscribed, they can watch almost anything, no matter how long.

So Netflix's primary goal has always been to create an attractive streaming brand. Licensing content only helps a little. But Netflix's extra publicity for House of Cards certainly helped boost both Netflix and the show.

Netflix is ​​targeting young, tech-savvy subscribers and anyone with a digital connection. Netflix viewers come from all ages and demographics. However, most of the audience is teenagers, college students, entrepreneurs, and professionals. Netflix is ​​actively working on scaling and personalizing content to grow its subscriber base. They differentiate audiences from children and adults based on their maturity.

Netflix Marketing Strategy - Content Is King

Since becoming a production company, Netflix has increasingly focused on content in original series and marketing. For Netflix, content is king, so Netflix's primary marketing strategy revolves around content. We'll cover some of these marketing strategies below.

SEO In light of Netflix's social media marketing prowess, its SEO efforts have been largely ignored. But when it comes to SEO, Netflix is ​​a giant.

Social Media Netflix is ​​almost NAILS social media. Whether Twitter, Instagram, or YouTube, Netflix's social media content is custom for each platform. Take Twitter, for example. Netflix's brand account doesn't just share updates on its latest releases like breaking news. But instead, they create fun, quirky posts, and memes. Her posts are sometimes so funny that you might mistake them for a meme account!

Netflix's approach is simple - they're low-key and the most significant content fans.

TV marketing campaigns

Now, the creativity of Netflix is ​​not limited to being an excellent Twitter account. Their marketing campaigns are just as brilliant!

House of Cards - Frank Underwood's presidential campaign!

In 2016, Netflix was going to release 13 new episodes of the House of Cards season. Only this time, things were different. The presidential race between Donald Trump and Hillary Clinton was in full swing. Given all the entertainment news that broke out during the presidential election, viewers were more tuned to CNN than to Netflix.

So Netflix came up with a genius idea. They released a typical presidential campaign video (which would rival the Clinton and Trump videos)

To promote 13 Reasons Why, Netflix created individual Instagram pages for each show's characters, almost as if they were real people. These Instagram accounts amassed 3.6 million followers in just a few days! Since you currently have ~222 million subscribers, you can only imagine the amount of data you have on your user data is precious in identifying trends, what's popular, what's not, and most importantly, it helps with personalized recommendations.

So, based on your viewing patterns, Netflix will recommend personalized content that you might like. In addition, the data also helps inform Netflix's investment decisions. For example, which series are released and which are not.

Netflix's marketing strategy is a multi-channel attack. Summarizing: memes do sell. Netflix pays attention to customer analytics. Their marketing decisions took on FACTS! Customer data.

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