Rishabh Sharma

Mba 2b
20001703049
 About Netflix
Netflix has been one of the fastest-growing businesses since its inception in 1997.
Netflix is the brainchild of two entrepreneurs Reed Hastings and Marc Randolph,
who launched it way back in August 1997 in Scotts Valley, California as an online
movie rental service.
In April 1998, the company became the first online DVD rental service in the
world following the launch of its website netflix.com, which enabled people to
rent DVDs online.
 GROWTH OF NETFLIX
After attaining exponential growth and practically taking over the DVD rental
market, the company started a subscription-based model, which enabled users to
keep their rental DVDs for as long as they wanted to, but could rent a new one
only after they returned their existing one.

As early as the year 2000, Netflix introduced a personalized recommendation

system for movies based on ratings provided by members to accurately predict
which movies they are likely to enjoy.

This was their first Customer Relationship Management (CRM) milestone. With
this move, in 2005, the company’s subscriber base reached 4.2 million!
 NETFLIX AND CRM
In 2007, Netflix introduced video streaming, which enabled its subscribers to watch movies
and television shows of their choice on their laptops and personal computers.

What sets Netflix apart and is responsible for its exponential growth over the past decade
is its ability to adopt modern marketing, such as Customer Relationship Management
(CRM), which is an agile, innovative, creative, and data-driven marketing strategy.

Customer data gathered by the company which includes the age, location, watch history,
preferences, favorites, etc. of users, based on which the Netflix app suggests movies/shows
that they are likely to enjoy.
 USE OF CUSTOMER DATA
By collecting data from their 151 million subscribers, and implementing data analytics
models to discover customer behavior and buying patterns. Then, using that information to
recommend movies and TV shows based on their subscribers’ preferences.

According to Netflix, over 75% of viewer activity is based off personalized recommendations.

Netflix even has screenshots of scenes people might have viewed repeatedly, the rating
content is given, the number of searches and what is searched for. With this data, Netflix can
create a detailed profile on its users. 
 CUSTOMER RELATIONSHIP MANAGEMENT

1) Take ownership and be transparent  

In the video streaming business, technical glitches are inevitable. If there is a service
disruption or streaming issue, Netflix will not only put out a statement, but also personally
email all customers who may have been affected. 

2) Empower agents to be individuals and focus on full resolution 

The company’s business model relies on a flat subscription rate so agents are not under
pressure to upsell a customer when they are speaking to them. Hence, agents are focused
on solving the specific issue a customer is having.
3) Be proactive and anticipate the next touch.
The company, though, deploys proactive support across the customer journey. Whether
it’s sending personalized emails with ideas of what to watch tonight (meticulously
curated, of course), but also as soon as a person signs up for a free trial. 

5) Ask for feedback, directly from customers 

Netflix is notorious for taking a data-based approach to their customer experience. Part of
the company’s obsession with data is collecting feedback directly from customers. They
send out surveys designed specifically to understand how customers think.  This includes
not only rigorous A/B testing but also asking customers their satisfaction following
interactions with the company or product, and also monitoring engagement following an
interaction with customer support. 
 MARKETING STRATEGIES

1.Personalised Content Marketing: People love using Netflix because they get a broad
range of things to watch. Netflix’s library of TV shows and movies from all over the world
is there for consumers to choose from at any time.

2.Website Development: Netflix has designed its website with a user-friendly interface

which allows customers to rate TV shows and movies, which then goes through Netflix’s
algorithm to recommend more content they might enjoy.
 
3.Email Marketing: Netflix tapped on email marketing techniques as a part of their
digital marketing strategy and as a key component of customer onboarding and
nurturing. New Netflix customers receive a series of emails that make content
recommendations and encourage new users to explore the platform.
4.Search Engine Optimization: Netflix makes use of search engine optimization services for
the sake of improving organic research and establishing their brand presence. The brand
aimed at best search engine optimization services to drive the traffic organically and
adopted both on-page and off-page SEO strategies. They optimized their content with
potential keywords that show up high in search results.

5.Social Media Optimization: If you want to connect with your audience in real-time, then
social media is the best platform to establish your brand image. As social media plays a vital
role in the lives of the people, Netflix decided to leverage best social media optimization
services that made them earn billions.
 Netflix and its battle for India

As far as Netflix’s India foray—around 2016— is concerned, Hastings says the timing of its
entry was “fortunate”. 

A learning for Netflix was that unlike Americans and Europeans, a large chunk of Indians
consume content on mobile devices. To reach these consumers, Netflix launched a
mobile-only subscription plan at ₹199 a month, far cheaper than its standard plan, in
2019.
 
Netflix India also began producing content like tv series and movies curated for the Indian
audience like Sacred Games , Delhi Crime , Ludo and many more.
 COVID AND NETFLIX
Netflix was one of the first tech companies to show a distinct benefit from the
pandemic.
The company added a record-breaking 15.8 million net new paid subscribers in
last year’s first quarter as the coronavirus outbreak sent people rushing home
with little else to do.
But with the pandemic nearly coming to an end , the growth has slowly been
fading away.