How Disney+ is Dominating Online Streaming
One thing we can all agree on here is that you need to start with a business model, set goals, and actually understand them. If you are setting goals that do not make sense to the business, it will affect your social media strategy and the way you are engaging with customers in order to fulfill their wants and needs or how you are driving the brand forward (Knapp, 2018). While social media sounds like fun and games and you can just post whatever, whenever, companies need to understand that there can be financial impacts. It is part of the business and should be measured as such; “At the end of the day, goals and metrics are the bedrock on which your strategy and tactics will build upon” (Knapp, 2018).
The social media campaign that caught my attention was Disney+. In chapter 3 of the textbook, it discusses how an organization such as Disney would always be in the top 100 most valuable global brands, but how that has changed because of the many continuous transitions going on in the world (Atherton, 2020). Disney was hit hard during the pandemic when they were forced to close all of their parks and hotels worldwide; so they needed to maintain their relevance somehow. Of course, Disney never ceases to amaze us and they introduced us to Disney+, “an on-demand, ad-free streaming service where subscribers will be able to enjoy movies and shows from Disney, Pixar, Marvel, Star Wars, National Geographic, and 20th Century Fox. This subscription also includes original programming exclusive to Disney+” (Chen, Cohen, Webb, 2020). They are up against streaming giants such as Netflix, Prime Video, and Hulu, so they needed to step it up; and they did just that.
When I think of Disney, it brings up so many memories from my childhood and nostalgic feelings. That feeling of driving into the park, walking into the Magic Kingdom and seeing your favorite character, or turning on a movie and seeing their opening credits with Cinderella’s iconic castle. With the help of Disney+, those memories could be brought back to life once again in a new and improved way. Disney started with a traditional approach (their cable businesses that are in a decline), they then started to move into a more innovative thinking approach, which helped them succeed in a customer-focused, technology-driven digital environment (Atherton, 2020). The President for content and marketing at Disney Plus, Rick Strauss, described its advertising offensive as “a synergy campaign of a magnitude that is unprecedented in the history of the Walt Disney Company” (Barnes, 2019). I mean, that is quite the bold statement don’t you think?! This streaming service had been in the making at least two years before when they began unveiling plans for a Netflix-style video platform, but one that was going to “launch big” and “launch hot” (Barnes, 2019). They were promoting Disney+ on busses, offering sneak-peeks of shows on their cruise lines, and having employees wear lanyards with QR codes, which shoppers could scan with their smartphones and be taken directly to the Disney+ sign up page (Barnes, 2019). Disney also owns ABC, which means it was already a given that they were going to talk about it on any of their stations and shows like “Live With Kelly and Ryan” and “The View”, which gives them so much exposure! These are only a few of their marketing tactics, now let us get into social media and how it aligns with key performance indicators (KPIs).
Key performance indicators, or KPIs, “are the most important measurements in any campaign or project… [they] determine the success or failure of any social media activity” (Atherton, 2020). It is important to have an understanding of what they are and from there, they will go hand-in-hand with your social media goals, which are then aligned with the sales funnel. Disney marketed Disney+ to its followers on almost all of their social media accounts, which has over 9.3 billion followers combined (Barnes, 2019). We start at the top of the funnel, the attracting stage. This is where a company is trying to increase its brand awareness. Disney started to build the hype for Disney+ with their low cost of $6.99 a month ($69.99/year), offering “movies and shows from six brands: Disney, Pixar, Marvel, “Star Wars,” National Geographic and “The Simpsons”” (Barnes, 2019). The best part, unlike their competitors, was that they were starting their subscription ad-free. So, you mean to tell me that for only $6.99 a month, I get to relive all my childhood dreams AND it is ad-free? Yes, you can pinch yourself, because this is the real deal. The KPI here: Their Instagram account alone has gained over 3.2 million followers and their Facebook page has over 2.1 million followers.
The middle of the funnel is the engaging stage. Disney has “spent billions on the effort” for the overall project and to attract new customers, so they need to see an increased return on investment (ROI) (Barnes, 2019). Lastly, we get to the bottom of the funnel, the converting stage. Disney did their job; they have marketed their product and definitely gotten the Disney+ name out there, now what? The KPI here: As of April 2020, they already had 50 million paid subscribers worldwide and it was only 5 months old when they predicted it would take until 2022 to get this many subscribers (Barnes, 2020). Due to the pandemic, it most likely gave Disney+ that boost to attract new subscribers and maintain the old, but we will take it! It has definitely been the perfect way for parents to keep their children entertained during these homebound days (or if the parents want to take a break from the work Zoom calls). This would be considered the post-sale stage and how they have built brand loyalty.
A “social media strategy needs to be aligned with your overarching business strategy,” and no matter the size or type of organization, each one needs to understand its “core purpose and vision, its strategy for continued existence and growth” (Atherton, 2020). Disney developed a set of SMART goals and, in the words from a McKinley Marketing Partners blog, taught us 4 content marketing lessons:
“When new technology disrupts, get in the game and do it better.”
“Repurpose content to connect with your audience.”
“Expand on content that resonates.”
“Make the first “yes” easy.” (McKinley, 2020)
Disney has been committed to creativity and excellence for decades, which has always put them ahead of their competitors time and time again. However, it is the way that they are open and committed to this constant change and the way they embrace new technological advances and putting the consumer at the heart of everything they do that will continue to distinguish them from their competitors.
Sources:
Atherton, J. (2020). Social media strategy: A practical guide to social media marketing and customer engagement. London: Kogan Page Limited.
Barnes, B. (2019, October 28). Disney Is New to Streaming, but Its Marketing Is Unmatched. Retrieved September 17, 2020, from https://www.nytimes.com/2019/10/27/business/media/disney-plus-marketing.html
Barnes, B. (2020, April 09). Disney Plus Racks Up 50 Million Subscribers in 5 Months. Retrieved September 17, 2020, from https://www.nytimes.com/2020/04/08/business/disney-plus-50-million-subscribers.html
Connie Chen, S. (2020, August 28). Disney Plus: All your questions answered about Disney’s ad-free streaming service. Retrieved September 17, 2020, from https://www.businessinsider.com/disney-plus
Knapp, S. (2018, July 12). How to Set Goals and KPIs for Your Social Media Strategy. Retrieved September 17, 2020, from https://marketing.sfgate.com/blog/how-to-set-goals-and-kpis-for-your-social-media-strategy
4 Content Marketing Lessons from the Launch of Disney Plus. (2020, July 17). Retrieved September 18, 2020, from https://mckinleymarketingpartners.com/2019/11/4-content-marketing-lessons-from-the-launch-of-disney-plus/
