Netflix: SMART Goals and KPIs
Netflix is a streaming service like no other. Beginning as a DVD distribution company back in 1997, it transformed to the same online streaming service it is today. The company features tv shows, movies, documentaries, and much more. The streaming service also has original series and movies and adds new content every month.
Co-Founder and CEO of Netflix, Reed Hastings stated back in 2011 that the company’s objectives are to:
· Become the best global entertainment distribution service
· License entertainment content around the world
· Create markets that are accessible to film makers
· Help content creators around the world to find a global audience (Farfan)
SMART Goals
The specific goals that I have for Netflix are to post more about what is to come on Netflix in the near future and to collaborate with another streaming service to make a discount bundle deal. The reason for the first goal is because I feel its Instagram lacks informational content, the page is mainly full of memes and funny clips based from tv shows and movies that are featured on the platform. The reason for my second goal is because I have seen many complain about the fees Netflix charges and I feel that allowing users to not only have access to Netflix at a cheaper rate, but also having a service to take advantage could solve that issue.
Measuring how much of engagement the company’s Instagram account receives now versus how much it could receive if it posted more informational content could be one way for me to track the goal’s progress. Comparing the number of subscribers with and without another service collaboration will help me determine the progress of that goal.
An achievable goal is always the route to go for and I strongly feel that this company can achieve just that. There are many growing streaming services that provide unique content that Netflix doesn’t, so I feel they can most definitely find one to collaborate with. I also feel adding informational content on top of the entertaining content will drive more users to the account and increase new subscribers.
I do feel these goals are relevant due to the unprecedented times we are living in. The global pandemic has caused many to lose their jobs and prevents them from affording cable or even a streaming service like Netflix. The discount bundle deal could make it more affordable for them and not make it feel like an unnecessary expense. The other goal is relevant because nobody will be interested in a company that lacks an interactive social media account. The timeline that I give these goals are the end of 2021 due to the pandemic still going on.
The Key performance indicators (KPI’s) would be:
· Growth in social media followers
· Growth in new subscribers
How will social media help me achieve my SMART goal(s)? KPIs?
What are the outcomes I want from my social media efforts?
I feel that social media will help achieve my SMART goals and KPIs by driving more traffic due to the informational content, announcement of a collaboration, and cheaper fees. The outcomes that I would like to receive from my social media efforts would be to get a surge of new subscribers that will enjoy all the amazing content Netflix has to offer.
References
Farfan, B. Mission Statements of Technology Companies. https://www.thebalancesmb.com/tech-companies-mission-statements-4068549.
