Can Netflix’s Marketing Model Give You the Boost You Need?
Netflix’s marketing must be good! The shocking truth across our office is that hardly anyone is watching cable or traditional TV anymore. Some of us are paying for cable services that we no longer actually use! Why would anyone do something like that you ask? Because Netflix has become our default choice for leisure and entertainment.
There’s so much info out there about Netflix’s marketing strategy and unique selling points. Almost every person on Earth has an idea about Netflix and how it works. But is there actually some kind of wisdom that we as marketers can pick up from the marketing model Netflix employs?
Totally! We believe there’s a great deal to learn from Netflix’s marketing model. These lessons are sure to help your business too!
Table of contents
- Netflix’s marketing: Key lessons for you
- Final thoughts on Netflix’s marketing model
Netflix’s marketing: Key lessons for you
Are you aware that 2021 saw Netflix spend around 2.55 billion USD on marketing campaigns?
There has been a recent rise of other similar completing platforms like HOOQ and Viu. As such, we expect Netflix’s marketing spend to greatly increase in the future.
We all wish we had such an insane marketing budget. Let’s see how it’s spent and get into the 7 lessons we can learn by examining Netflix’s marketing model.
1. Gain reach with omnichannel marketing just like Netflix
Netflix employs omnichannel marketing strategies with its curated combination of in-app and external efforts. Apart from the tantalizing trailers and previews we see within the app, Netflix also leverages other platforms like YouTube rather heavily. Here, they publicize even more previews and trailers of upcoming shows with ads before the videos you click on.
Additionally, Netflix is also an incredibly active part of the Twitter landscape. Whether their team is circulating memes that have relevance to their shows or exclusive behind-the-scenes footage, it’s easy to find some kind of Netflix content on all major social media platforms.
2. Engagement is Key
This is probably something we’ve said no less than a thousand times, but in the current marketing landscape, engagement is key.
Engagement is the driving force behind keeping you connected with your audience. It also proves to your target audience that their desires for what they want to see from your brand aren’t falling on deaf ears. Engagement is also a critical tool in building awareness and gaining the traffic you need to get a strong foothold within the digital ecosystem.
We find it fascinating how Netflix keeps its target audience engaged in its content through social media. This GIF, for instance, accumulated over 800 thousand views!
It’s interesting to see that no matter how relevant and ingrained into society Netflix has become, they’ve never ceased finding successful methods of engaging with their audiences.
3. KOL Marketing Adds Value
Where influencer and social media marketing are concerned, key opinion leaders (KOLs) are an important resource. But why is this?
The simple answer is that KOLs add value due to experience and expertise.
Netflix co-founder, Marc Randolph, has been contributing to podcasts and actively sharing his knowledge and ideas with the wider world for years. He’s also an active member of LinkedIn, another platform he uses to give people access to his ideas and business and entrepreneurship expertise.
Nick Bell, our founder, even had the opportunity to interview Marc, alongside Lisa Teh from the CODI Agency! Take a listen to the interview on Spotify.
Marc’s online presence makes it easier for Netflix to transcend mere video streaming as a form of engagement. Instead, his online activity adds value, shares education, and highlights global trends and occurrences. He injects a deeper level of humanity into Netflix, making it feel like a more inclusive, uplifting, and approachable brand.
4. Your Brand Needs Humanity
There are many ways that Netflix gives its brand humanity. Aside from corporate matters, Netflix also has its Netflix originals’ cast members participate in online talk shows and other popular media.
Netflix’s marketing relies heavily on what we call the soft-sell and, of course, giving their brand human qualities. Once a new show is released onto the platform, you’ll likely see the cast members on other social media, answering trivia questions or playing other games. This serves two purposes: it humanizes the celebrities playing roles in the show and functions as an after-sales tactic to increase viewer engagement and brand recall.
Check out this video of the cast of Stranger Things taking character quizzes:
5. Keep Viewers Engaged with Personalized Content
Being that we are in Hong Kong, HK dramas are our all-time favorite shows. It’s, therefore, no surprise that our staff’s Netflix accounts keep notifying them when a new Hong Kong drama drops.
Netflix’s marketing collects useful data from its users. User preferences can then cleverly dictate what sort of content Netflix recommends. In notifying you about the content you’re interested in, you’re more likely to find Netflix more engaging.
Just like a clever, targeted ad campaign, marketing gurus and businesses alike need to realize the importance and global significance of user-driven personalized messages. One size fits all hasn’t been an appropriate marketing strategy for quite some time. Expanding your customer base largely depends on users feeling that you remember their previous interactions with your business.
6. Want to be Memorable? Use Memes
Netflix is one of the most prolific platforms to master meme marketing. Meme marketing has been huge in social media, and Netflix is at the forefront.
Simultaneously relatable and witty, these memes have amassed over 15 thousand likes and was retweeted more than 1000 times.
The further these memes go and the more traction they pick up on social media, the further Netflix can extend its reach. Not to mention the rapport it has a chance to create with its followers and consumers.
Now, none of this means that you absolutely have to use memes in marketing. Memes aren’t compatible with all businesses realistically, and it might not even be your thing. However, the takeaway from this is that you, as a brand, need to leverage the most creative means to get yourself to stand out.
7. Make Your Platform Accessible
One of the most amazing things about Netflix’s marketing is that they help us to catch up with the latest installment of our favorite dramas anywhere and everywhere.
Netflix has a mobile app, so you can use it on your phone and tablet, and you’re even able to use it on your computer and TV! The key takeaway here is that if you want to extend your reach, you need to be accessible from multiple platforms.
For example, if you’re in the process of reworking your website and optimizing it for search engines like Google, you should also make sure that the mobile SEO and page look good and are functional on smartphones and tablets.
Your goal with marketing should be to give your customers as many options as possible while simultaneously extending your reach.
Final thoughts on Netflix’s marketing model
At the end of the day, your marketing depends on your customers, business needs, constraints, and ultimate goals. Netflix provides great insights on how to engage your audience and ultimately get them to pay for your services.
It seems clear that streaming is fast taking the reins from traditional television services, but is Netflix going to remain ahead of the rest of the streaming services?
Who knows! While the future may be uncertain on that front, one is guaranteed: Netflix won’t cease its marketing efforts any time soon. That goes for their business development as well.
This is, however, great news for their customers because we can rest assured that we’ll be getting tons of new memes and content!
If you are a busy business owner, We also invite you to review some of our services such as SEO, Reputation Management, and Social Media. We offer a no-obligation consultation. We would like to give you the marketing magic that Netflix has to make your business rock!