The Netflix Way: A Data‐Driven Approach to Engagement (Live #ArkKM)
The Netflix Way: A Data‐Driven Approach to Engagement is a live post from the conference Knowledge Management in the Legal Profession, presented by Ark. I post as a session ends, so please forgive typos or errors in understanding. The presenter is Nicky Leijtens, Board Advisor Client Experience & Innovation, NautaDutilh NV
With release of Breaking Bad and Orange is the New Black, Netflix turned people into binge watchers. A combination of value, creativity, and convenience supported this. Aren’t law firms working toward the same goals: (1) We want client attention and (2) We want to share information with clients
But are we succeeding? But on average, open rate is only 16%. The click through rate on links in email is only 1%. If Netflix had these stats, they would go bankrupt. Leading consumer customers obsess about winning hearts and minds of customers. Law firms need to follow this path: create stickiness and value.
Clients face jobs of growing complexity: faster biz cycles, more reg, more cost pressure. They want convenience, instant delivery, and value for money. And filtered information that avoids info overload. Customers — and lawyers — want personalization via relevance, speed, and simplicity:
Netflix focuses relentlessly on meeting personal preference. Algorithms even hide content system thinks you won’t like. Contrast this to law firms, which is totally different. It takes law firms a long time to generate content and then it’s sent in big blocks of text. The lack of simplicity is a big reason for low client engagement with law firm content.
To touch client hearts, you need to look at the client journey, and not just their lives as lawyers. Figure out what they do and when they need information. Need to use design based thinking, We have to deliver information the way clients want it. We should obsess about winning hearts and minds of clients.
Jeff asks how the firm has persuaded partners to let staff have a bigger role in communications. Speaker references Daniel Kahneman, specifically, remembering beginning and ending of experiences. At my firm, end used to be the invoice. Now, end of matter is an evaluation meeting to consider service delivery, including client feedback. This has made them more receptive to suggestions for change
The Netflix Way: A Data‐Driven Approach to Engagement
By 2020, Neƞlix will have 200 million subscriptioons worldwide. Every new Neƞlix Originals series seems to be right on target, attracting even more subscribers. It is like magic, while the trick behind it is very simple: it is just about puƫtng (data) insights to use. Everything Neƞlix does, is decided upon big data, viewing patterns and insights on customer behavior and the way our brain works. Neƞlix knows what we like and knows how to keep us engaged. In essence, that should be at the heart of knowledge‐sharing, especially in this era of informatioon overload. The burden of TMI makes us crave personalized experiences and short cuts, in order to conquer the overload. However, the contrast with knowledge‐sharing in legal is stark: lengthy pieces of legalese and a one‐size‐ﬁts‐all approach sƟll seem widespread. This discussion will shed light on the principles behind the success of Neƞlix and how we can apply those to knowledge‐sharing, oﬀering a framework for creating an optimal learning experience and content that not only ﬁts clients’ needs but earns loyalty.
Nicky Leijtens, Board Advisor Client Experience & Innovation, NautaDutilh NV