How many of you watch Netflix? If you don’t, do you use other online streaming apps or services like Amazon Prime or Hotstar or whatnot?
Very few people these days don’t use any of these.
The one things everyone seems to have missed was the customer or the consumer. Did you know that there are more than 30 apps today, that command a meaningful viewership? Consider it for a minute. The popularity of online streaming apps has grown drastically in the last couple of years. In fact, did you know that India is one of the top 3 markets for Netflix in terms of mobile usage?
But how did they do it? In a short period of time, these apps seem to have completely floored all of us and got us addicted.
Here’s the catch, The young adult demographic is not the only customer market these apps have conquered. In India, these streaming apps have managed to capture the attention of people of a huge age range between 18 and 55. And of course, we all know examples of people outside this age group who also use these services.
So how have these companies, by themselves have managed to win over so many people?
Companies like Netflix who have gone from being Customer Focused to even Customer Obsessed have managed to do this by concentrating and delivering to every one of its customer demographics. They’ve got adventure, romance, fantasy, drama, biographies and every other genre you can think of. This mean’s that they have managed to focus on every one of their customer’s needs’ and deliver.
For any company to succeed big, the key metric is Customer Focus. A good company delivers what the customers want. Great companies deliver customer delights. At the end of the day, if the customer gets what he wants, he stays with your company. If he doesn’t, he moves to the next company in the never-ending line. This makes it integral to keep your customers happy. This, of course, ranges within a huge set of parameters all the way from the ease of use and personal relationships to tracking and development.
Which automatically then brings us to the other most important metric for the success of a company. Data.
Every movie you watched on Netflix, Netflix knows. They watch what we do, they learn from what we do and then they use it to keep us happy. And this they do it through a range of activities like suggesting movies or shows to us, all the way to adding more movies and shows like that onto their network.
As a conclusion, when done right, focusing on your customers can help change a company from an ordinary company to a great one. In fact, as a result of such a transformation, the problem the company would face would be managing all the new customers they get. That is how powerful an approach, customer orientation can be.