Written by Garry Checki, Media Relations Assistant, Media Measurement & Analysis
At first glance, Netflix may seem to be nothing more than a subscription-based streaming service used to binge watch your favorite television shows and movies. In reality, Netflix is a data-driven company that uses analytics and intelligent information gathering in order to provide content to target audiences.
'House of Cards' the award-winning, critically acclaimed, binge-worthy Netflix original series is the end result of using data-driven decision making. In 2011, when Netflix decided to pay $110 million to produce 'House of Cards', they did so because of data analytics.
Netflix knew from their data analytics that the British version of 'House of Cards' had a big audience, The Social Network, directed by David Fincher, had a big audience and users who watched the British version of 'House of Cards' also watched Kevin Spacey films and/or films directed by David Fincher.
Using these three trends, Netflix was able to turn a big gamble into a big-data driven success. 'House of Cards' is in it’s fourth season, both Spacey and Fincher have won awards for their involvement with the series and Netflix is now respected in both content production and analytic decision-making.
So, what lesson can be learned from the analytical success of Netflix? And how do we implement these lessons when reporting to clients?
Data reduces risk:
The use of data-driven decision making helped to ensure that 'House of Cards' would be a success and the same data-driven decision making can ensure that a story or campaign can be a success for a client. Analyzing data gathered from the successes/failures of past campaigns, the timing of campaign release dates and the market saturation of a specific topic all help to eliminate risk and increase confidence when building a client campaign.
Big Data is here and it’s here to stay:
“Big Data” is a phrase that has been around for a while and that’s because big data is proving useful for many different industries. From construction to television, to public relations, big data is influencing the decisions made in many industries. An agency can stay ahead of the curve by embracing big data and providing insight to clients that they didn't even know were there.
The more data you have available, the better:
The ability to manipulate different sets of data to find and tell unique stories is key when success of a campaign can be measured in many different ways. Whether it is pairing Kevin Spacey with David Fincher or the ability to show a client that 90% of all media coverage mentioned the client in their latest campaign, having this data available to tell these stories provides agencies with a distinct advantage and service.
MediaSource is a content-focused public relations firm that specializes in brand journalism tactics. From news media coverage to consumer video tactics, MediaSource partners with the nation’s top hospitals and corporations to get their message to targeted audiences. MediaSource is best known for delivering brand buzz by amplifying messages across both earned media and company-owned media channels.