#11: A Case Study: Netflix 2020 and Check your Pulse #55: The Intersection of Content Curation and Knowledge Management

11: A Case Study: Netflix 2020 and Check your Pulse 55: The Intersection of Content Curation and Knowledge Management

In today's digital age, where information is constantly being produced at an overwhelming rate, it is crucial for product leaders and individuals alike to find ways to navigate this abundance effectively. In this article, we will explore the concepts of the GLEe Model, the DHM Model, the GEM Model, and the SMT Lockup from the case study of Netflix in 2020, and how they intersect with the idea of online communities at the intersection of content curation and knowledge management.

The GLEe Model, which stands for Get Big, Lead, and Expand, is a framework that encourages product leaders to think long-term and think big. Netflix, as a startup, focused on these three aspects to establish itself as a leading player in the streaming industry. By aiming for growth, leadership, and expansion, the company was able to successfully position itself in the market.

The DHM Model, on the other hand, emphasizes the importance of delighting customers in ways that are hard to copy and enhance margins. Netflix achieved this through various strategies, such as personalization, offering original content, providing a better watching experience, and engaging viewers through interactive storytelling. These unique approaches not only attracted and retained customers but also set Netflix apart from its competitors.

When it comes to prioritizing growth, engagement, and monetization, the GEM Model can be useful. The model suggests that focusing on year-over-year member growth, lifetime value, and monthly retention can drive the company's success. By understanding these key metrics, product leaders can make informed decisions and allocate resources effectively.

However, one challenge in measuring engagement is the difficulty in moving the retention needle. To address this, the SMT Lockup proposes using a proxy metric, such as the percentage of members who watch at least 40 hours per month. This metric provides a more sensitive indication of engagement and can help the product team make data-driven decisions to improve user experience and retention.

Moving away from the case study of Netflix, let's delve into the idea of online communities at the intersection of content curation and knowledge management. In today's world, where an exponential amount of information is available, our brains are not equipped to handle this abundance. Consuming more information does not necessarily lead to better thinking or goal achievement. The focus should be on thinking better and utilizing the information effectively.

Our current feed-based information architecture is centered around the present, and we consume information recreationally rather than strategically. Curation, traditionally focused on the content itself, should shift its focus towards the architecture of how we collect, store, augment, and utilize the information already in our minds. Platforms like Twitter, originally designed for personal status updates, are not optimized for curating the world's information stream. As a result, we are becoming obsessive consumers of the present, neglecting the potential of the archives we create.

While technology has disrupted content production, the experience of consuming content remains largely unchanged. The words may have moved from printed pages to screens, but the overall process remains the same. This is where the intersection of curation and knowledge management comes into play. Tools like CB Insights provide utility for reading content and organizing information, but they still function within hierarchical structures and have not fully tapped into the power of networked information and crowdsourced knowledge.

Looking ahead, the concept of "Come for the Content, Stay for the Community" is expected to dominate the media landscape in the coming decade. As more creators shift towards independent subscription models, they will find it advantageous to build experiences that go beyond individual content pieces and foster a sense of community. The potential to create community-curated knowledge networks is largely untapped, and it presents an opportunity for both creators and consumers to engage in a more collaborative and enriching experience.

In conclusion, the case study of Netflix in 2020 highlights the importance of long-term thinking, delighting customers, and prioritizing growth, engagement, and monetization. These principles can be applied to various industries and businesses. Additionally, the idea of online communities at the intersection of content curation and knowledge management emphasizes the need to think strategically about information consumption and harness the power of networked knowledge. To navigate this landscape effectively, here are three actionable pieces of advice:

1. Embrace long-term thinking: Instead of focusing solely on short-term goals, consider the bigger picture and aim for growth, leadership, and expansion.

2. Delight your customers: Find unique ways to provide value to your customers that are difficult for competitors to replicate, such as personalization, original content, and interactive experiences.

3. Prioritize engagement and retention: Understand the metrics that drive engagement, such as lifetime value and monthly retention, and use them as indicators of success. Additionally, consider proxy metrics that provide insights into user behavior and satisfaction.

By combining these insights from the case study of Netflix and the concept of online communities, businesses and individuals can navigate the digital landscape more effectively and create meaningful experiences for their customers and communities.