The Netflix Model for Global Marketers: Content is Still King
As marketers, we see the marketplace, we absorb, interpret, analyze and create for our clients so that they stand out and get results - whether that be in reach, followers, impressions, views or sales. It’s a given that the internet, social media and globalization has changed everything about how we measure marketing success, which has become instantly identifiable. It’s become even more of a numbers game. In one sense, this is a wonderful thing and very convenient for marketers to show the results of their work and for businesses to produce profit. The question is, how do you use that data so that it leads to audience conversion? This is where great marketing comes in: understanding the customer and persuasive thought leadership through content creation.
It’s no surprise that most research on marketing success shows that content is still king. Blogs and vlogs continue to be the drivers of audience development and customer loyalty worldwide. (Statista, 2019) Surprisingly, email campaigns lead the way in how audiences across the board want to be connected in the U.S. - this is particularly true for older generations. (Statista, 2019) And interestingly, while creating exposure was the leading benefit of using social media worldwide, increasing sales through it was much further down the list. (Social Media Examiner, Statista, 2019) And, though content marketing leads the way worldwide in perception of generating ROI, both SEO and automation closely follow. (Statista, 2019)
But, that special sauce of how you create a following, and a desire among your audience to buy your thing - whatever that happens to be - is not really a secret. It’s about them, not you. That’s the heart of it...and then comes the fun. What you create, develop and infuse into the mix can move mountains.
What instantly comes to mind is Netflix. Of course, they started with a brilliantly simple business strategy - but then they injected their own brand of thought leadership into the mix. They realized that original content was probably a natural progression and what was going to set them apart. And, of course, the fact that the consumer could watch it all at once, without interruption, and anytime they wanted was the media industry game changer. They married the perfectly symbiotic relationship between giving the audience what they want and their own brand of creative, quality content. In my opinion, they’ve had some of the best original programming there is - across any platform. They’ve gone from a basic video distribution platform to a production powerhouse with 139 million-plus subscribers worldwide. Again, a brilliantly simple business strategy that started with primarily word-of-mouth marketing in the initial stages. Of course, it helps that they developed a great distribution channel first and, admittedly, used data to drive their content development. But if they did not create their own programming or ultimately had terrible programming, they would likely not be even among the leaders today. Read more about how original content changed everything for Netflix. They are the hands-down leaders in video streaming service - they’ve held their own against Amazon Prime and it will be interesting to see how they respond to Disney and other studios’ entry into this space. Read more about Variety’s take here.
Understood that not everyone can, will or want to become a Netflix, but there’s a lesson in their story. Start with a sound business strategy, use data to understand your audiences’ unique needs and desires and how to reach them...and then tell great stories. In this instant impression world, it’s easy to think that your Rome will be built in a day through digital marketing. Don’t be fooled - in most cases, it won’t be. But, data-driven, targeted, creative messaging and a unique campaign will help lay a solid foundation for great things to come. In addition to identifying the myriad of channels, a great marketing team will help you take the time to know your audience, create your own brand’s thought leadership and help you tell stories that are authentic to your business and build a customer base that will stand the test of time.