While some of us are able to leverage the accounts of family members (that was a cool move by Netflix), others would gladly pay more to have some of the greatest television series and movies streamed to our home month after month.
However, there hasn't been a lot of choice over what happens within a show -- until now. Recently, Netflix announced they are planning to launch a Choose Your Own Adventure-type ending for a show (similar to the type of books popular back in the 80s and 90s).
The best part is they'll be testing this new choose-your-own-ending on the hit show Black Mirror.
Sound like a parallel universe?
Netflix wants to make their platform more conducive to viewer input, and this is the perfect way to get them started. As the media giant takes another step forward, entrepreneurs learn from this move?
Let your customers decide how to engage with your brand. You might just learn something new.
For instance, offering clients monthly payment options, or presenting your services in multiple packages gives them the semblance of choice. This is mostly an illusion, because more often than not, people will pick the middle package (not wanting to appear cheap by buying the least expensive, and not looking for extravagances found in the higher-end options).
However, this also applies to businesses who are one-hit wonders. Watch ABC's Shark Tank for an evening and you'll see how one of the most important questions investors look for are multiple product lines.
Having a product is great, but having a brand with product lines is better.
Don't get too comfortable.
In the case of Netflix, this shows us how even the digital entertainment giant needs to be on their toes. By sprucing up their content offerings, it will help them take on the other behemoth in their space, Amazon.As entrepreneurs, it's easy to get complacent when things go right. That is exactly why this decision by Netflix is so brilliant.
I know from experience that when you get stagnant in your career, it's time to start raising the bar. Even from an employee/manager standpoint, mixing things up keeps everyone more engaged, creatively speaking.
Testing and piloting new product concepts is the lifeblood of innovation.
Another important thing to remember is that Netflix had previously tested this approach on children's series. By testing it before rolling out with a major show, it allowed them to work out the kinks.
Coming from the tech world, I can appreciate this iterative approach. It's important as entrepreneurs to constantly be testing, tweaking, and refining our strategy.
In order to make sure your next big thing works, you have to test it out on something small first. And in reality, this is just one show, which will likely garner hundreds of thousands of more viewers -- making Netflix more money. Whether this is the future of streaming video remains uncertain, but isn't it nice to have some choices?
Go test something new out, give your customers more options, and realize that if it doesn't work, you can always go back to the drawing board.