Netflix is a renowned provider of a vast library of videos that consists of high-quality content, binge-watch shows, new films, popular videos, old hits, in-house original shows, and TV shows on a single platform. Netflix subscribers can watch videos online through multiple devices such as mobile phones, tablets, laptops, TV. It allows accessing the whole library which has a large volume of videos of all categories through a single month subscription. Due to its innovative way of changing the streaming method, it has gained worldwide popularity within a short period of time.
Netflix is founded by Reed Hastings and Marc Randolph in 1997. It has its headquarters in Los Gatos, California. As of April 2019, Netflix had 148 million paid subscribers globally.
what made the viewers hooked to Netflix rather than other streaming media such as Amazon Prime, Hulu Plus, HBO, ShowTime are
Let us dive deep into the Netflix Digital Marketing success story. It has adopted powerful strategies that made it superior in online streaming services. Knowing the audience is the first and foremost algorithm that Netflix has adopted.
Sorting videos from a large volume of the library according to the user’s preferences, desired content
Netflix subscriptions (Attract new subscribers and retain existing subscribers) through attractive offers, discounts, and schemes.
Subscription cost: To retain all the subscribers, it applies various price models based on the average revenues of the countries.
Internet speed: To overcome this, it has used dedicated servers in Africa and it is adopting video optimization techniques.
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In 2017, Netflix has lost its visibility in the organic search and regained its ranking within one week through effective SEO strategies such as international SEO, geo-targeting, and the hreflang annotation.
e.g. watch movies, movies online, watch TV, TV online, TV shows online
Due to its excellence in SEO strategy, it has gained domain authority of 90 out of 100, high engagement rate through binge shows, and through popular links.
#2. Content optimization:
It is the key element in Netflix’s success story. They produce answers for the viewer’s queries in the content itself. It is known as the original content producer and updates and optimizes the content regularly based on user behavioral patterns.
The team at Netflix regularly posts unique and crisp content that differentiates them from other competitors.
CEO Reed Hastings has been leading Netflix from the front. His active harnessing of social media has reaped lasting rewards for the company. His post in FaceBook informing the news of Netflix crossing 1 billion hours monthly viewership mark has gone viral in no time and spiked its stock from $70 to $81.
As a result of the viewers’ complaints through tweets, they have created an innovative “Netflix socks” to wear while watching shows. When you dozed off while seeing the binge series, you won’t miss the last scene where you have stopped watching. The socks which are fitted with tiny electronic equipment can sense your movements and automatically turn off the TV by pausing the video. What a clever strategy!
This has been playing a major role in the colossal growth and brand loyalty of Netflix. They analyze all the details related to viewers’ behavioral patterns such as pausing, skipping, repeating, taking screenshots, categories they search for, the area and timing of their engagement, etc.
Based on all these factors, they propose and adopt new strategies in digital marketing for improving the results, user satisfaction.
It has triumphantly completed two decades from its inception in delivering all types of videos including documentaries, DVD rentals, feature films in almost 21 languages spread across 190 countries. Its subscriber's strength swelled in a substantial manner between 2012 to 2019. Within the span of 7 years, subscriptions have shot up from 22 million to 148 million.
This is the Netflix Digital Marketing success story which has been a revolution across online streaming media with its in-depth analysis of consumer interests and the tactics of digital marketing in making a clear path to the subscribers’ engagement and retention. Hence it has yielded high returns for their business.