As a brand or as a content provider once you acquire an audience, the challenge becomes retention.
In the past months, households (in the US according to numbers from BCG) subscriptions to subscription video-on-demand services (SVOD), like Netflix, Disney+, Amazon Prime, etc., grew by approximately 10%.
We can attribute this to the increase in time people are spending at home, socializing less with friends and family coming over.
You might also have seen this kind of increase as a brand, as an advertiser, with your own content.
But as months go by, and this is also true when an organization goes through a strong increase in content views, the goal becomes a question of retaining this new audience.
It becomes a challenge in making sure the offer is up to par with the expectations of your audience. In a recent BCG article that dives into this subject from a SVOD point-of-view, Alex Cadicamo outlines 15 retention mechanisms, divided into 5 main strategies:
- Content Quantity
- Content Exclusivity
- Content Genres
These are strategies relevant to broadcasters, SVOD services, but if you are a brand or advertiser this is a great source of inspiration for questions you can ask yourself (How unique is our content? How is the content experience for our audience? What content pillars are we really covering with our content? etc.).
The BCG article goes deeper into these strategies, but also presents data on how generational audiences will adapt their content consumption behaviours in 2021.
So how are you making sure you are keeping these new audiences?