#Thankflix: Netflix’s Thanksgiving Campaign
With the pandemic at its all time high and majority of the country being in complete lockdown, Netflix has become a popular source for distraction and entertainment along with many other streaming competitors. Netflix’s goal is not only to provide entertainment for the public, but to grow as a company and find ways in which they can obtain more subscribers to their monthly service while keeping a strong social media presence. With so many similar competitors providing a streaming service, it can be hard to stand out and attract individuals to purchase the Netflix streaming service every month, but a single, proper and concise goal can lead the company to obtain a mass amount of subscribers. Even though Netflix has been doing a great job at not only providing content that individuals still love to see, but providing them with original shows and movies that can’t be seen elsewhere has been a major hit. It is now time for Netflix to expand outside of the content they’re providing and focus on planning and executing their goal in hopes to reach a wider audience that perhaps has not been convinced to purchase Netflix’s monthly service.
SMART goals have been highly effective in making sure that the goal(s) that have been set are obtainable. Creating a specific, measurable, attainable, relevant, and time based goal can be the clearest and most efficient way in setting a plan and executing it.
Specific: To begin, we want to start off by setting a clear goal we can focus on. Our goal for Netflix will be to increase conversion rates while maintaining a strong social media presence on social media platforms where the performance of hashtags does well. In this case, we know that Instagram and Twitter perform well with hashtags, while Facebook isn’t all that big with hashtags, so we will be focusing on Instagram.
Measurable: Once we have set a clear goal, it is now time to add the numbers. Making sure we can have numbers to focus on and track will facilitate the clarity of the goal. In this situation, we want to increase Netflix’s conversion rate by 10%
Attainable: Adding a timeframe is incredibly important in the efficiency of accomplishing the goal. For this goal, we want to set a time for how long we will have to accomplish our set goal. Therefore, we will give us a timeframe of 1 month to reach a 10% conversion rate.
Relevant: Making sure the goal is relevant with time is crucial. We will choose the month of November to focus on achieving this goal because we will create a campaign around Thanksgiving and use the hashtag #Thankflix.
Time-based: Along with adding a timeframe, making sure the goal is realistic within time is key in obtaining our goal.
Much of Netflix’s way of executing their goal of increasing subscribers will be through the use of social media platforms. We want to start a campaign using the hashtag #Thankflix during the month of November. Though Netflix used to provide free trials for users a while back, it hasn’t done so in quite some time. In comparison to competitors such as Hulu or Amazon Prime Video, Netflix has not followed along in providing free trials once again. Due to the fact that Netflix hasn’t offered a free-trial service for a while, this will definitely make them stand out.
Our core plan for increasing conversion rates is starting off with this free-trial. However, building it around a holiday can be very important in bringing awareness to the campaign being built around these free trials. If you purchase a subscription with Netflix during the month of November, you will have the opportunity to gift someone a free 30-day trial as a way of saying thanks. We will then highly encourage Instagram users to post a selfie of themselves watching their favorite Netflix movie or show with the hashtag #Thankflix and challenge other users to gift a free 30-day trial to someone they want to give thanks to.
Those who are gifted a 30-day trial will be given a code to redeem. We will then track those codes that get converted into monthly subscriptions. This will be a way to see whether this campaign was a success, how much the conversion rates increased, and how well our hashtag performed on Instagram.
Everyone wants to find a way to say thanks, and giving users the opportunity to be able to gift a trial can attract many individuals who haven’t subscribed to the service yet. Not only is there an incentive when subscribing to Netflix during the month of November, but other new users will be given the chance to hopefully like a show and want to continue using the Netflix service and purchase a subscription after their gifted 30-day trial.
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