Netflix: Company Objectives, S.M.A.R.T Goals, and KPI’s
The Netflix platform as a whole has one main objective, to keep their consumers entertained with the best possible content. Although the online streaming industry has evolved, Netflix still remains at the top. But, they do have to factor in their competitors when analyzing their overall brand. Netflix corporate mission statement is “To entertain the world.” This statement is based off of the fact that they provide easy on-demand entertainment for everyone.
Another one of company objectives for Netflix is how they will build a social presence with so many different competitors in the streaming service industry. Netflix has to find a way to bring their own personal voice and tone to their social media in order to stand out amongst others. I believe this is one of Netflix’s main goals at the moment because of the digital media industry taking over the world.
Specific: Being able to have specific goals set for your company is important for any business. For Netflix, the goal would be to increase engagement on social media. So, for example, they would set a goal of trying to increase overall engagement on social media by 30% in the year 2021.
Measurable: Netflix can measure this goal by analyzing their analytics every quarter to see what type of content is beneficial to increasing engagement and what content does poorly. They can then spend time on producing content that will succeed.
Attainable: Netflix must be able to set accurate goals in order to actually achieve that increase in engagement. For example, Netflix can focus on releasing vague trailers of new shows or movies to keep their customers engaged, but not release too much information that will make consumers lose interest.
Realistic: Netflix needs to be able to set realistic goals when it comes to increasing customer engagement. Analyzing the latest trends and creating the right content that will relate with their audience will be the most realistic route for Netflix to take in order for them to increase engagement.
Time: Being able to set a time frame of when you want your goal to be reached will help you achieve this goal. So, for example, saying Netflix should increase overall engagement on social media by 30% in the year 2021 sets a time frame for the goal.
There are many KPI’s that can be used to measure engagement rates on social media for Netflix. KPI’s can be measured by likes, comments, shares, clicks and mentions. It is important to look at the KPI’s because it will determine how well your social content is performing. For Netflix, analyzing these specific analytics will be able to show if engagement is being increased on your social platforms. Netflix can definitely incorporate specific hashtags as well. For example, creating a hashtag surrounding a new show or movies being released on the platform will drive people to their page because it will result in others sharing the hashtag as well. This will be able to reach a new audience and evidently increase engagement. Being able to reach millions of people will mean nothing if your audience is not interested in what you have to say or offer. KPI’s will bring the right audience to your brand and attract new traffic to your site which is what makes KPI’s an important part of setting social goals for your company.
Netflix's Mission Statement & Vision Statement: A Strategic Analysis - Rancord Society
Netflix Inc.'s mission statement and vision statement target the entertainment market. The online company's strategic…