There’s always room in the market for a good product at a good price. How can you best leverage growth opportunities in the crowded streaming marketplace? To answer, we turn to the classic 5 Ps of marketing, and take a deep dive into how you can apply them to elevate the presence of your service.
We continue with People.
With increasing privacy regulation like CCPA
and removal of third party cookies
, having 1st party audience data is critical.
Services need to know who’s subscribing and why, and - just as important - who isn’t, and why. Among existing subscribers, who are the audiences by title, by genre, by distributor, by daypart? If a client operates multiple services, what do the audiences who subscribe to two or more of them have in common? Accurate answers to these questions let services strategically approach future marketing, acquisition, and scheduling decisions.
How we approach it:
- We make sure our clients’ MarTech stacks capture audience detail as granularly as possible. The complexities can vary, since some clients operate multiple services and/or in multiple territories, but our goal is always the same: to make sure the MarTech stack can accurately identify valid audience segments.
- If distributor relationships preclude us having the data we seek (i.e. for services which aren’t D2C), we conduct our own qualitative and quantitative research.
You can thrive in the forest even if you’re not an 800-pound gorilla. Make sure you’re thinking about your service holistically - not only across the five P’s we’ve outlined above, but across all marketing channels (paid, earned, owned, and creative) as well.