Almost everybody around the world is on Netflix. They are one of the biggest online sensations in the world and a serious contender for a completely different way of offering entertainment. Indeed, they are the movie industry’s answer to Spotify. They haven’t become as big as they are without always being on top of their game, of course, and they recently brought out a new option, known as the Gonzo genre generator, which had the world on tenterhooks. Suddenly, we could all classify our tastes by the most bizarre filters ever, and it was amazing! We can all learn a lot from this automation effort, and in particular about how it can benefit businesses and consumers. Let’s take a look at some of the things we can learn from Netflix.
Learn to Use Your Available Data
Marketing automation is all about making sure you know your data and that you know how to use it to your advantage.
“Netflix has long used its data to make recommendations, but in the last few years, it has discovered how to use the same information to produce content, but guiding them toward what people want to see.”
Basically, you have to learn how to use your data in order to become proactive. At present, most of us are still reactive: we notice that people are looking for something that is not yet there, so we start to offer it. What we need to do is analyze our data in such a way that we know what they will start looking for, hence have it in place straightaway, thus, striking when the iron is hot.
Being Where Your Customers Are
Netflix is where their customers are. They are totally responsive to what their customers want. They have a very strong social media presence, which is where their biggest target market is.
“The vast majority of organizations today are embracing social, mobile, and digital to communicate with customers, employees, and partners, and it won’t be long before it becomes mainstream to do so with shareholders also.”
You have to get on social media. There are more social media accounts than what there are people on earth, if they are all added up together. It is reasonable to expect that at least one fifth of the world’s population uses social media. You need to get in there right away, just like Netflix has done.
Never Be Stagnant
Netflix has been around for longer than most people realize. The reason why they have been able to do that is because they are always open ended. Their new system works now, but it may not work in the future. Again, this is also about being proactive. What matters, however, is that they constantly change what they offer to include exactly what people want to see.
“Company executives reexamined the Netflix business model and shifted to a model that focused on streaming moves and television. In tough times, you can emulate the Netflix business strategy by assessing your company realistically and reinventing your product or service offerings.”