An interview I conducted for my upcoming book was on the topic of social media…
Is Netflix Impacting Your Business’s Marketing Strategy?
It all started really innocently. As winter commenced, my husband came home with an Apple TV.
The next thing I knew it was almost Spring and I had turned into some kind of late night binge watching junkie. I had devoured Big Little Lies in two days, consumed the entire five seasons of House of Cards and, as I write this article, I find myself battling a new dependence, Ozark.
It has led to many, many late nights where I’ve muttered, “Just one more episode.” But I’ve had to own up to the dark circles under my eyes, I have a ‘Netflix addiction’, and I’ve realised it is making things very tricky for marketers trying to connect with me.
I am not alone.
It seems I am not alone with new research released from Roy Morgan reporting a 20% increase in subscriptions of video on demand formats including Netflix. As Michele Levine, CEO of Roy Morgan Research states, “In just the first three months of 2017, the SVOD (Subscription Video on Demand) powerhouse gained over 1.2 million new viewers via 446 000 additional household subscriptions.”
It seems our quest for Netflix has reached epic proportions. Mums across the country are taking back control from advertisers. They are turning away from free-to-air TV in droves, attracted by the absence of advertising and the ability to watch high quality shows at their convenience. With this significant rise in TV and movie on demand consumption, advertisers and business owners are being challenged to find other ways to reach mums.
What can you do?
If you are a business owner or marketer and the significant rise in Netflix watching amongst mums is hurting your business then it’s time to time to make some significant changes to your marketing spend. If you are a large brand, I’d be seriously considering your levels of TV advertising investment, particularly over the winter months.
I would be considering increasing efforts into social media, Facebook in particular. A Marketing to Mums research reports that 91% of mums are checking in to their social media accounts daily and 30% of mums are accessing their accounts 11 times a day or more every single day with Facebook being their favourite platform. Many mothers are flicking through their social media news feeds whilst simultaneously watching an episode (it drives my husband mad).
I would also look to get innovative in your communications directed at mothers. Do something different. Review your market position, amplify your differences and entertain mum in your message delivery. Humour is something she craves, and she has highlighted she feels it is missing from many of her brand relationships.
Make changes now.
The growth of Netflix is set to continue with Roy Morgan Research reporting they are set to spend $8 billion on developing new content for this year alone.
The media landscape has forever been changed, and marketers must find new ways to engage with their audiences. Please share your thoughts or any questions regarding this in the comments below.
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