A global streaming service: crafting a successful growth strategy

The Challenge

There are millions of content consumers all over the world. The question for media companies is, how do you reach all these consumers? And how do you ensure they watch content through your platform, and not your competitors?

This is the challenge that our client, a leading global streaming service provider, was facing. In an increasingly competitive market, they needed to ensure they were engaging their customers to drive loyalty, prevent churn and increase lifetime value. Moreover, our client spotted an untapped opportunity to attract new customers to the market.

Our client wanted to reach new customers and retain existing customers. They presented us with the challenge statement: how can we become the world’s leading destination platform, purpose-built for our unique content, that connects fans, brands, celebrities, & influencers​?

The Approach

Our team took a multi-faceted approach, combining research with workshops to facilitate innovation and discovery. The process involved these steps:

Creating a visioning and design thinking workshop to guide the senior leadership team through customer-centric design and collaborative ideation. This workshop focused on how our client could serve target customers in a new and different way. This resulted in the development of low-fidelity prototypes

Combining market research with customer interviews to develop four personas to use in the design process, ensuring that the proposition addressed key customer needs and market trends

Designing and iterating the customer value proposition through high-fidelity prototypes and continuously testing these with end users

Building out a business model canvas, operating plan, financial model, and capability assessment to inform an executive decision on whether the client should invest in building the proposition

Creating a detailed implementation plan for launching the new platform business model and proposition, including integration requirements and build/buy/partner recommendations

The Impact

The work was well received by the senior leadership of the business – including the board of directors. During the project, a new CEO came into the organisation and this work was shared with him early in his tenure. While market conditions changed dramatically and the client was unable to fully pursue this initiative, it continues to be a “north star” for their leadership and serves as a vision for where their company needs to go in the future. This work has informed their strategic business decisions and the client’s long-term strategy.