When was the last time you watched a full-length entertainment on your TV with all the ads and everything else. I bet, you won't be remembering because you left your TV a while ago. Some of you do not feel the need to buy a TV anymore because your smartphone screen is just what you need. This week Netflix announced losses first time in 10 years. Many factors contributed to the decline such as market saturation and war in Ukraine.
Everyday I see many young entrepreneurs enthusiastic with great potential. They want the digital lead the way. I explain that their idea is great but I also ensure that they understand the fact that crunching numbers is not going to get them so far. What is going to remain crucial is the creativity. Without that, science can go until one point. Now it is the era of social entertainment TikTok, Instagram Reels, and YouTube Shorts are leading the arena. Social media choices are now shifting towards the content choices. Metrics are changing and marketers need to adopt their strategies around that.
Real-time and authenticity is what customer are looking for. The word "authenticity" and "transparent" are over-used, I know... But perhaps the reason being is that they are so hard to get. Many try and fail. Rise of micro-influencers and nano-influencers is not a surprise because they are more close to reality then the mega celebrities.
If you want to strive with social entertainment my few tips are: Build your online communities well, understand the pain-points and respect the subcultures.