What Netflix can change to attract more audience in India during its StreamFest| Product Management Challenge
Ciao, Guys today’s post is related to a Weekend challenge no 28 on Product school on LinkedIn. They put good content for people interested in Product Management.
Here is the problem statement
Netflix has started StreamFest to get new users to try Netflix and eventually convert them to paying customers. As a product Manager of Netflix Come up with 3 product solution to increase the customers
The 1st step in solving this problem is the understanding the users and what are their problems.
Based on a Basic Survey I created 2 user personas that can be the potential buyers of the new Netflix subscription.
User Persona -1
• Age- 16–18
• In High school.
• Lives in tier-2, tier-3 cities
• Used Netflix by 30 day trials changing emails every time
• Want to buy Netflix but price is too much for him/her.
User Persona-2
• Age- 25–30
• Living independently.
• Lives in tier-2, tier-3 cities
• Working independently.
- Wants to upgrade to quality English-Hindi Entertainment.
The problems for this Users as follows.
· High Cost of Subscription.
In Indian Market customer is extremely price sensitive when it comes to OTT platform. The major competitors Hotstar, Amazon Prime etc provide their services at a lot of cheaper price. In such low cost competition attracting the tier 2- tier 3 population who is more price sensitive than the urban population has been a big challenge for Netflix.
· Analysis Paralysis of Content
A lot of content is available on Netflix. So much so that at times the user spend a lot of time just deciding what to play. Sometime the frustration becomes so much that user justs decide not to watch anything ending up 20–30 mins just browsing content.
· Content in Local Language
Compared to Other Platforms Netflix still lacks content in the local languages. In the last 2 years we have seen an increase Hindi, Marathi, Tamil, Telegu content on Netflix but it is still a lot less compared to the competition.
Solution 1-
Netflix has introduced top 10 feature. This feature pickups the top 10 movie/shows in the Country, Top TV shows , top movies in the country. There is a possibility to take this one step further. How about an added level of personalization is added to this list. The user can create their own top 10 list.
The user can use filters like Genre, Language, Duration when it was released, location, or choose to see something different than they normally see.
The algorithm will pickup the top 10 movies/shows that people are watching based on the filters that the user selected and present it to them.
The user can watch them. Save this to their watchlist.
Below is the wireframe for the above concept.
Metrics Tracked –
Users converted to paid customers/ Total number of user using this feature during streamfest.
Solution 2-
To be more competitive and attract the price sensitive audience. Netflix can offer sale to the user during the streamfest. The subscription will be provided at a discounted rate for a single screen. The ads will to buy the subscription will be strategically placed during the play, at the start, at the end.
The plan can be for a single user and if they want to upgrade then the regular plans apply.
Example –
3 months at 299 per month for 1 screen.
6 months at 249 per month for 1 screen.
12 month at 199 per month for 1 screen.
Wireframe of the concept
Metrics Tracked-
• No of people bought the subscription/ No of total people watching the stream fest
• How many ads led to the purchase.
- Which place was the display led to conversion.
Solution 3-
Develop content(Either movie or Tv show) and with proper marketing launch this at every streamfest then use this content to drive the audience to purchase the subscription by combining with the ads of purchase.
Metrics Tracked-
- No of people converting/No of people watching the show or movie.
What do you think my approach? I am eagerly open to your opinions and feedback. You can get in touch with me on LinkedIn, or email me at snehal.bhasme19@iimb.ac.in.
