The Intersection of Failed Social Strategies and the Psychology Behind Viral Sharing

The Intersection of Failed Social Strategies and the Psychology Behind Viral Sharing

Introduction:

In the digital age, companies strive to create viral content and implement successful social strategies. However, there are lessons to be learned from Netflix's failed social strategy and the psychology behind why people share. By examining these two aspects, we can gain insights into what works and what doesn't in the realm of social media and viral growth.

What We Can Learn From Netflix's Failed Social Strategy:

Netflix's failed social strategy teaches us several valuable lessons. The first is the importance of remaining objective when making investment decisions. Past investment should not dictate future investment. Instead, companies should ask themselves, "Given what we know today, how much should we invest going forward?" By avoiding biases and reevaluating strategies, companies can make better-informed decisions.

Another lesson from Netflix's failure is the danger of small wins clouding judgment. Netflix failed to recognize early on that their social strategy would never be big enough to make a significant impact. This highlights the need for companies to constantly evaluate the effectiveness of their strategies and not be blinded by minor successes. It's crucial to focus on metrics that truly matter and align with the company's goals.

Furthermore, Netflix's persistence in pursuing an unsuccessful strategy can be attributed to the passion of its CEO. When leaders are passionate about an idea, it becomes challenging to quit, even when the evidence suggests it's not working. To avoid this pitfall, companies must separate their pride of ownership from the objective evaluation of the strategy's merit. Establishing clear objectives and goals can help guard against subjective biases and misguided enthusiasm.

The Psychology Behind "Going Viral":

Understanding the psychology behind why people share is key to creating content that has the potential to go viral. People share content for various reasons, which can be grouped into eight clusters of motivation:

1. Status: Humans have a natural inclination to seek validation and display their status. By associating themselves with high-status individuals or sharing exclusive content, people can boost their own status within their social circles.