A critical SWOT analysis of Netflix’s social media techniques clearly shows they are ahead of the game and not backing down from rising competitors like YouTube which is gaining viewers by increasing the amount of online content.
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Netflix.Com/social-media-disclosure.cfm
For B2B Investor relations, Netflix uses Youtube and has a link on their social media disclosure site. For their B2C Netflix has a general community blog which began in May of 2007. Joris Evers, Director of Corporate Communications at Netflix routinely posts updates to this blog as well as Michael Spiegelman, Director of Product Innovation, and Greg Peters, Chief Streaming and Partnerships Officer, who release updates on innovative features enhancing current applications which shows that customers that their concerns are being heard without a doubt, and allows for incessant feedback and suggestions.
The tech blog outlines the perspectives, decisions and challenges regarding the software used to create the Netflix service. By going into detail it explains the company’s approach to outages by building software to combat, minimize and prevent downed service and illustrates open sourcing initiatives. Netflix makes known the common metric used and reveals applications like Hystrix and Chaos Monkey as well go in depth to elucidate the AAS reactive auto scaling model and has no hesitation about revealing cases not addressed by it, like outages and variable traffic patterns; However, implementing complimentary technology in a way that promotes synergy enables Netflix to handle unexpected needs efficiently. This section also opens its doors to potential IT professionals that are interested in tackling problems through employment opportunity.
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Using leaders of YouTube with a large subscriber base and grouping them together for a joint effort media campaign, is proving itself very innovative. An excellent example is Hannah Hart, DailyGrace and Mamrie Hart collaborating for ‘movie night” where they get together and watch a movie on Netflix and discuss, they ask you to get a membership with Netflix (using offering a coupon code to get a free month upon subscribing to their youtube channel) and everyone watches together in real time, their request reaches around 670,000 views. This also leads to a discussion on Facebook and Twitter about what they just did. It’s like having a personal movie theatre with all of your online friends.
This is how Netflix is effectively using its competitors to leverage lead generation to the next level.
In the field of low-cost and globally-ambitious Internet subscription services, there are mainly four big competitors, Netflix, Hulu, Amazon, and HBO. In order to win as much of consumers’ time and spending as possible, each of them have different strategies to compete with each other. HBO is an original content firm getting into the Internet subscription business with HBO Go (Moskowitz, 2015). Netflix, Hulu, and Amazon are internet firms with mostly licensed content, all planning their strategy of producing original content.
With over 35 distribution centers across the United States, Netflix has the fastest delivery time of any online DVD rental company. Through the use of the United States Postal Service, over 90% of DVDs are received by customers within one day of ordering. ? Netflix?s easy to use website allows customers to browse the video library by category such as action, romance, drama (sixteen total categories) or by using a comprehensive internal search of the library. ? Netflix uses the technology of Cinematch to give customers even better service. Cinematch studies past selections made by members, and begins to recommend titles that would likely be enjoyed by the customer based on previous selections. ?
As advance technology of fiber-optic developed and is on the rise, everyday there is another story about entertaining movies on demand and streaming online is with ease. Those developments which let movie’s viewers sit in the comfort of their home or anywhere with access to the internet can stream instance movies with a push of a bottom. They no longer need to make a trip to the movie’s stores for movies rental and return, so that is why movie shops fail and filed for bankruptcy bring a symbolic close to the “let’s go rent a movie” era. Blockbuster LLC, formerly Blockbuster Entertainment Inc., both owned and franchised American-based giant provider of home movie and video game rental services through video rental stores, later adding movies by mail, streaming online and video on demand. Due to the peak of fiber-optic and competition from companies such as Netflix, Redbox, and GameFly, Blockbuster became the victim of digital media and filed for bankruptcy on September 23, 2010 due to significant lost in revenue.[3]
The idea inspired Reed Hastings and Marc Randolph, and then they founded Netflix in Scotts Valley, California in 1997 (Netflix, 2014). The company comes into play by developing a subscription-based streaming platform for movies and television shows. Unlike the traditional movie rental businesses such as Blockbuster and Redbox, Netflix’s innovation offers service via Internet, and it does not have any physical stores but instead delivers DVDs through postal mail in the U.S. Since then, Netflix has become the world’s leading internet television network with constant growth of customers to over 48 millions members in more than 40 countries in the North America, Europe, and the Latin America (Netflix, 2014). In this analysis, the main focus is examining the current market environment for Netflix. It identifies the type of market structure that Netflix is currently competing. The analysis also expands on the competitions, product differentiation, pricing strategy, and measuring the level of easy entry-and-exit.
Netflix’s derives a much of their competitive advantage from their ability to offer each subscriber convenience and a personalized experience. The firm’s CineMatch software gathers data from subscribers’ online profiles, movie rental history and a subscriber’s movie ratings to develop a person...
The following essay will analyze Netflix Company’s social commerce strategy. It includes the definition of social commerce, company history, social commerce strategy that the company is engaging, the effect of social commerce for the company and measuring social commerce success of the company. Below, brief definition of social commerce and the company history.
Reed Hastings, co-founder of Netflix headquartered in Los Gatos, CA, began the company’s operations in 1997 after receiving an enormous late charge from a movie rental he returned long overdue. However, Hastings had the desire to be different than traditional movie outlets; whereas, customers had to drive to the location, pay a certain amount for each movie they rented, and were given a deadline in which to return the movie. Instead of using a method established by other video markets “to attract customers to a retail location, Netflix offered home delivery of DVDs through the mail” which eventually led to a booming business towards streaming forms of entertainment (Shih, Kaufman, & Spinola, 2009, p. 3). Today, Netflix exists along with several competitors; however, offers the most streaming content available for viewing, and continues to grow its subscriber base both domestically and globally. Although, direct and indirect competitors, acquisition costs, and several barriers present a financial threat for Netflix, the company has managed to grow with the acclamation of partnerships, expand to international territories, and vastly increase its price in shares of stock.
As the firm moves forward, top managers must pay attention to staying unique to sustain a competitive advantage. Netflix does not own their content, nor do they have any tangible assets. Netflix is a part of a broad range of network users. As technology continues to grow exponentially, Netflix will have to be readily adaptive to change and innovation. Technology never stops growing and evolving, therefore, Netflix’s business platform should never stop growing and evolving. At the same time, they must be careful to remain user friendly and customer centric by keeping the technology at a level where users will not have to obtain a certain set of technological skill sets.
The twenty year journey of Blockbuster has not been without bumps, valleys, road blocks, and detours. Blockbuster has come under legal fire from Netflix, a major online competitor, the Free Trade Commission for attempting a host...
Want to change the way you leverage social media for digital success this year? It’s time to evaluate your social media strategies, and differentiate great tactics from ones that have under-delivered. This evaluation is really important to come out with a unique social media strategy to rock the markets in 2016. There are a bunch of opportunities which can let you shine on the social media front. So let’s have a look at highly effective social media trends that will help you dominate the market in 2016.
Explaining Google’s business model is to say the clever idea of two PhD students from Stanford University, Larry Page and Sergey Brin founded in 1998 and originally purpose was to provide a unique internet search engine and rapidly became the leader on search engine and best advertiser seller. Google is a technology company that today offers more than 200 products, and services being internet search engine the most famous and used worldwide. From Picasa, YouTube, Gmail, Google Book, AdWords, Google search among many others Google untypical business model is direct to a main purpose to get the most out of advertising and to bring more consumers to those advertising, which are who generate more than 90 percent of Google’s revenue.
Technological 2.1 – Political Factors The political environment in countries for Netflix is very critical. Governmental regulation, laws and policies impose threats and can even provide opportunities for economies globally. Netflix operate on a global platform and coming up with new strategies every year shall allow them to align their suit the need of every economy’s changing policies, laws and regulations. One of the major political issues faced by Netflix Inc. is the restriction by the U.S. Government on countries such as Crimea, North Korea and Syria leaving a potential market untapped for Netflix. Unfortunately, Netflix isn’t even available in a largely populated country of China due to the permission issues from the Chinese Government (CNET, 2017).
Social media is an imperative public relations tool for companies to utilize in their business practices. Social media cannot be regulated so anyone can say what they please about the company, whether it is good, bad or ugly. Social media is developing rapidly and there are new platforms
Twitter describes itself as a "global platform for public self expression and conversation in real-time." Twitter have proved a platform for its users to discover, uncover, find, generate and distribute content, with an emphasis on simplicity. Currently, the majority of Twitter users reach it online or by a mobile application, so the 140 character limit is more of a systemic limitation instead of technical one.
Even though many companies usually work hard to implement effective search engine optimization (SEO) strategies, they usually consider video marketing and video SEO as a secondary venture. As a result, most businesses either ignore or give very little marketing resources to the internet’s second biggest search engine, YouTube. With the upsurge in video consumption across all devices, however, it is important and prudent that all companies make video content and marketing an integral