Netflix

Background:

I am a Netflix customer for over 2 years now. I mostly subscribe to the instant online movies/shows on Netflix. I think netflix’s marketing efforts are mostly targeted towards retaining its existing large customer base. Netflix has gained popularity over the last several years. Being the first mover in the online movie streaming industry, Netflix has already passed the stages of building awareness and evaluation by potential customers.

Current Marketing Strategy:

Currently, I think Netflix is trying to retain its customers through different strategies in marketing. The online movie streaming industry is already becoming a red ocean space with numerous companies providing almost the same service. Competitors of Netflix like Amazon videos, Hulu plus are all offering the same service at minor price differences. Hence there is an immediate need for Netflix to differentiate. Netflix has started developing series like House of Cards that are exclusively available on Netflix and not even on traditional TV channels.

This differentiates Netflix and forces customers to continue to subscribe to its services, thus retaining them. Hence, based on several PR and media references, I think Netflix is targeting the bottom part of the funnel (referral and repeat).

Potential improvement suggestions:

However I think there are several ways in which they can improve the PR presence to reach their goal of constantly increasing subscriptions and revenue. One of the constant challenges in this strategy is keeping the content new and fresh. Netflix can start by doing live exclusive transmissions of different shows and concerts. They can also enter into partnerships with movie production companies to produce new interesting content. This expands their horizon outside streaming already produced videos to generating new and fresh content.

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