Sheryl Sandberg, Facebook’s COO, said that “the most important document ever to emerge from the Valley” was a quote.
She refers to the presentation ” Culture,” published by Reed Hastings, CEO of Netflix.
I needed to cover it here because of a few reasons.
Netflix is an incredible company that has a culture many companies envy.
Netflix is a master at creating great content (House of Cards, anyone?)
Netflix understands that employees and their content are the best marketing assets for any company.
This is coming from someone who loves Slideshare. It is “The Things We Think, But Don’t Say,” as Jerry McGuire stated in his memo.
This is the most effective marketing Netflix has ever done, aside from its content production.
It has been shared over 20,000 times, viewed over 8 million times, and received more than 400 comments. It contains 127 slides with almost no graphics, animations, or color. It simply reflects the culture of excellence they wanted to promote by defining the values and determining whether an individual is encouraged, rewarded, or fired.
Things We Think, But Don’t Say
Although it is a huge hit, most Netflix culture code advice is common sense. They have no Vacation Policy. Employees can take as much time as they like, provided they are responsible.
Here are some of my favorite pages from the extensive document.
A generous severance package is available for those who perform well.
We don’t measure people based on how many hours they work or how long they spend in the office.
No “brilliant jerks.”
To Increase Employee Freedom as They Grow vs. becoming more bureaucratic
“The greatest managers know how to create the right context to achieve great results, not by trying to control their employees.”
Because one exceptional employee is worth more than two adequate employees, it’s essential to pay “top of the market.”
The most effective form of comp is one that pays a large salary.
“We want people to manage their careers.”
During her 14-year tenure as Chief Talent Officer at Netflix, Patty McCord assisted Reed Hastings in developing the policy. Patty says that the most important lessons learned in trying to change and build the culture of Netflix are:
Only hire “A” players
Formal procedures are not as effective as logic and common sense.
Eliminate formal reviews
Eliminate employees who are not performing immediately. There is no need to implement performance improvement plans.
People with great jobs are the best to hire
Every employee should know what “high performance” is.
Patty also advised Hubspot, an Inbound Marketing company, to publish their culture and values. You can see their attempts to create a ” culture that they love.
The most significant advantage of digital marketing is its ability to communicate with precision. You must target the right audience and provide relevant, high-quality material to support your unique selling proposition.
Integrating location-targeting content is one of the key trends in retail.
Transparency is critical for retailers who promote it: Clear, unambiguous marketing copy is the key to success.
Unique customer experiences in-store are the best. Stores that provide exceptional customer experiences will thrive. The rise of technology-aided marketing messages through product demos, consumer education, and in-store displays is all part of the trend.
Smaller shops are more likely to be successful than large stores. This will lead to localized foot traffic, which will require hyperlocal messaging.
Personalization will be more important to consumers. Content is the most critical aspect of personalization, and location is the most significant factor.
Retailers will need to be more focused on Omnichannel Marketing. Local media must provide multiple content formats.
Retailtainment plays a significant role in the entertainment industry.
Data will not compromise retail success. Data must be relevant to the local market. The right content will help you package company data in brand messaging that addresses customer needs.
This will allow you to personalize your pages by directing users to specific pages based on location. This will allow for personalization.
