This week we analyze how streaming content provider, Netflix, is inspiring B2B content marketing strategies through a comprehensive investigation of the article "Engagement Marketing in the Netflix Era" published by Lookbook HQ, 2015. Find out how today's best sales enablement solution can help you execute a Netflix-inspired marketing strategy.
A Marketing Strategy Is Born
(Image Source: Business Insider, 2014)
It’s Sunday night. You’ve spent your whole day with the family or maybe doing work around the house. You’re tired and mindful that the hours are slowly dwindling, bringing you closer to the often dreaded work week. You decide to take it easy, curling up on the couch with a bowl of popcorn to watch a new series on Netflix.
You finish the first episode, but maybe you’re not quite ready to call it a night so you decide to let the next one automatically play. At the end of the second episode you’re faced with a cliff-hanger and the tough decision to keep on watching or go to bed. You decide one more episode won’t hurt. Next thing you know? You’re knee deep in the series and a notification pops up asking if you’re still watching.
It’s no secret that Netflix is revolutionizing the way that we consume television and films. Thanks to Netflix, we have the power to watch what we want, when we want, and as often as we want. Netflix has created a “binge” culture when it comes to our consumption of digital media content. Not only revolutionizing the television industry, Netflix is now inspiring the way we look at digital content marketing, especially in a B2B marketplace (Source: Lookbook HQ, 2015).
Even for experienced marketers, getting content to reach audiences and garner engagement can be a never-ending struggle (Source: LookBook HQ, 2015). How is Netflix able to keep audiences engaged so well? The secret to their success: they know how to deliver the right content to the right people at the right time (Source: LookBook HQ, 2015).
How can you follow the Netflix model in your next marketing campaign? The answer is simple. With the help of sales enablement, you’ll be following in the footsteps of the content streaming giant. Today, we analyze how sales enablement tools can help you execute Netflix-inspired marketing and sales tactics through understanding the newly empowered buyer, the need for personalized content, and the value of data.
Looking to learn more about sales enablement? You may find our post, “What is Sales Enablement? A Sales Enablement Definition for 2015”, to be of interest.
The Impact of an Empowered Buyer
Buyers today are in control of the sales process.
Netflix has adapted their services for their buyers by making content instantly available, whenever and wherever their audiences choose to view it. Today, audiences no longer have to wait for a show to be aired on cable.
Your Audience has Control
Netflix has given people complete control over when, where and how they consume content. We see the same behaviour in B2B buyers, yet marketers have been slow to act on the consequences of this demand (Source: LookBook HQ, 2015).
Like Netflix users, B2B buyers have come to expect that the companies they do business with will be accessible at all times. They want access to unlimited content when and where they want at any given moment. The internet has given buyers the power to control their own schedule (Source: LookBook HQ, 2015).
Creating a Netflix-inspired marketing strategy requires that you place a heavy emphasis on digital content management. The best sales enablement solution can help you create and distribute content more easily and according to new customer expectations. Through sales enablement, marketers have the ability to create, edit, maintain, share, and remove any type of content. Through digital content management, marketing teams have more content flexibility and control. Once content is created, sales enablement tools make distributing that content to buyers through multiple channels much simpler. Like Netflix, buyers can access all types of content on any device that they choose.
Provide only Desirable Content
While buyers today are more inclined to conduct their own research, marketers still play a large role in guiding buyers to that content (Source: LookBook HQ, 2015). Netflix has become a master at guiding audiences to the appropriate content. When you log into the streaming application, you are asked 'who is watching'. This feature allows Netflix to tailor content specific to an idividual viewer. Once inside the application, Netflix offers a wide variety of ways for viewers to search for content, either through programs that they recommend, newest content, most popular content or even by genre. The most influential way that Netflix guides the viewer is through their content suggestions. Looking at previously played content, search inquiries, ratings, as well as the date, time, and device used to access the content, Netflix is able to make suggestions to viewers on content that might be of interest to them (Source: Wired, 2013).
The balance of power in the seller-buyer relationship is tipping, but why? And how? We answer all your questions in our, “Today’s Buyers are More Empowered” Infographic.
Through sales enablement software, guiding the decision journey is a breeze. Sales enablement empowers sales managers to take control of customer intelligence. Digital sales aids can give sellers the answer to questions like: who are the most engaged buyers? what web portal content is most popular? how do customers respond to email campaigns? and which slides produce the best customer engagement? Just like Netflix making tailored content suggestions, using similar information helps marketing and sales tailor digital content and sales presentations to specific buyers in the future.
[RELATED CONTENT] Empowered buyer's are only one of many trends influencing sales and marketing in 2015 and beyond. Feel free to download our eBook about the changing state of sales for data-driven insights into the trends every marketer and seller needs to know about.
On Your Buyer's Terms, Not Yours...
Netflix understands that the “binge” culture is important to how audiences consume and engage with content. When an audience binge watches content, it’s because that content has captured their interest and they want to continue engaging. In turn, the more engaged a customer is, the more content they would like to see. You may not have realized this but B2B buyers are very similar in that they like to binge on content when it piques their interest.
If you think about it, when a customer is researching for a solution, they will research extensively to determine the best solution.They want to know all of the information before making that final purchase decision. If they didn’t have a problem to solve, however, it’s highly likely that they wouldn’t seek out your content at all or seek out that content in large quantities.
Interested in learning more about the empowered buyer? May I suggest reading our previous post, “How an Empowered Buyer Impacts the Sales Process”.
Personalization Makes Content More Engaging
Buyers love content that is personalized and directed specifically towards them. Not only does it grab their attention, but it also makes them feel like a valued customer. Understanding the importance of personalization, everything Netflix does from the home page to suggestions is intentionally personalized to grab the attention of the specific vieiwing audience (Source: LookBook HQ, 2015). In fact, 75% of Netflix’s views come from some kind of recommendation or personalized volume (Source: LookBook HQ, 2015).
The personalized content strategy that Netflix utilizes can be easily transferred to a B2B strategy When you understand your buyer and where they stand in their decision journey, you can tailor content for specifically for that buyer (Source: LookBook HQ, 2015). Where personalization differs in the B2B marketplace is in the emphasis placed on creating an authentic connection and building lasting relationships with all prospects (Source: LookBook HQ, 2015).
Sales enablement assists your sales and marketing teams excel at predictive selling. Equipped with customer profiles, sales enablement tools give sales reps a complete view of your buyer before entering a sales call. With this knowledge, sales reps know what customers are looking for, what information they have been looking at, and whom they have been talking to. Predictive selling allows your sales reps to be mindful of customer concerns in advance by using the sales enablement tool.
Optimize Content Consumption
Not only does Netflix personalize their content, but also they present it in an organized and accessible way that users enjoy. On average, B2B prospects typically engage with 10 pieces of content before coming to a purchase decision (Source: LookBook HQ, 2015). If your content isn’t relevant, organized, or easy to find, chances are buyers will look to third parties for information. Netflix understands that how you package and present your content is just as (or even more) important than the actual content (Source: LookBook HQ, 2015).
“When asked how vendors could improve the quality of their content, 97% recommended that marketers package related content together” (Source: LookBook HQ, 2015). Categorizing by genres, sub genre’s, and recommendations are one way that Netflix is able to continually offer engaging content. Similarly, the best sales enablement solutions ensures that you are arming your sales reps with impactful and relevant marketing materials, even on the go. Having organized content that can be controlled by sales and marketing execs all in one easy to access application makes sales presentations look more professionaly and organized.
A mobile sales application further allows sales reps to create more personalized presentations as they can pick and choose more relatable materials from existing content. This material will be better suited for individual buyers. As a result, you’ll deliver targeted messages to your customers while demonstrating your expertise through your interactions and customer relationships.
Looking to learn how to create more effective content reflective of where your buyer stands in their decision journey? May I suggest having a look at our post, “The New Decision Journey and Appropriate Digital Content Strategies”.
Data Driven Content
Marketers are constantly missing the mark when it comes time to creating actionable metrics around your content. Measuring the number of clicks or shares you content receives doesn’t necessarily mean that your content is being consumed by audiences (Source: LookBook HQ, 2015). Netflix understands that just because a show is playing doesn’t mean there is an audience in the room watching it. Using their auto-play blocker, users who continuously watch a series will be asked by Netflix if they are 'still watching'. If the user clicks yes, the program will continue to collect data. If there is no response from the user, Netflix will stop the program and the collection of data will come to an end.
Why does Netflix choose to ask their audience if they’re still there? To identify who is engaged and allow the program to determine which content is actually working to engage the audience (Source: LookBook HQ, 2015). Netflix isn’t just keeping track of the programs you watch, it also measures scrolling behaviour, algorithms, and viewing patterns (Source: Wired, 2013). Likened to a B2B marketing strategy, the more you know about your audience’s consumption patterns, the more effective your content creation will be.
Sales enablement can give your marketing and sales teams a comprehensive picture of your audience. This type of sales analytic software provides access to data across all channels and market segments according to preferences, buyer behaviours, and demographics. This data not only helps you to establish which content is working, it also helps to determine which stage the buyer is potentially at in their decision journey. With this information you can create more effective content in the future based on the decision journey stages in the present.
Sales analytic software in sales enablement drives sales for your reps. Understanding buyer behaviour converts prospects by triggering sales calls at exactly the right time. Delivering the right content, to the right person, at the right time has never been easier. Sales analytic software is an efficient tool for sales reps, allowing them to record data pertaining to the sales call including call duration, call participants, and call notes.
So the next time you sit down to watch your favourite series on Netflix, pay attention! As B2B marketers, we would all love to better engage our buyers and keep their attention. With the help of sales enablement tools, you too can create your own Netflix-inspired marketing strategy.
Need help determining the right metrics to use? You may find our post, “How to Choose the Right Metrics for your Sales Process” helpful.
[RELATED CONTENT] When it comes to sales enablement software, it can be tough to decide whether to build it in-house or buy a ready-made platform. Feel free to download the whitepaper below for an analysis of those options, and what it means to choose a built platform versus an in-house platform.
