Netflix: Using KPI’s to Create Clear Outcomes for Success

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Specific

In recent years, Netflix has created a lot of its own content by way of movies and streaming series. Customers now look to Netflix for its own content just as much as they do for movies and former tv series if not more. Netflix needs to continue creating its own content and if at all possible, reduce the amount of time it takes between one season to the next. With covid, that was impossible as production and filming was halted or extremely limited, but now that can change. With the help of its social media platforms, Netflix can measure what types of creative content are the most popular while also promoting its shows and services. Furthermore, Netflix already has different tiers of membership, they can still tweak their subscription scale to be more cost effective for some and offer more perks for others. Amazon Prime’s streaming service being combined with its sales and shipping platform is an example. Lastly, continuing to make each customer’s personal viewing experience customizable will create long lasting relationships with members. Netflix currently makes recommendations based on prior shows watched, but that can be improved upon by becoming more interactive with the help of social media.

Measurable

This is simple. Checking membership growth and analyzing not only how many new customers Netflix gains over time but also how many current customers they keep is quantifiable. Checking the effectiveness of social media posts promoting Netflix through numbers of likes and comments is measurable as well.

Attainable and Realistic/Relevant

The specific goals set here are ones that Netflix already work with. Honing them is well within their ability. The goals align with Netflix’s objectives and they are relevant to the times. With the pandemic, Netflix became even more popular than it was before, as people were stuck at home and it was one of the few past times still available. Customers who could not visit family and friends connected through watching shows and it was a time to capture more viewers. It is a very relevant goal to want to keep the customers they have already accumulated while continuing to gain new members.

Time Based

Reducing the amount of time that content is released between seasons is one time based effort Netflix should make. Also, tracking new membership and retention numbers monthly or even weekly helps Netflix meet its main objective.

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Deanna Pack Wooten

Deanna Pack Wooten

Mother-Entrepreneur-Wife-Animal lover. Student (again) pursuing a dream.