Research On The Marketing Strategy Improvement For LETV Membership

With the rapid development of society and economy,as well as the increase in people's living standards across the board,the growth of the online video industry has benefited from it as well,especially with respect to young generations,among whom it has gained extensive popularity.As a newly emerging industry,the online video industry is showing tremendous market potential due to the opportune universalization of household broadband and the maturity of mobile internet,which can be seen from the massive usage rate of online video applications among the netizen community.Marketing is a vital part for every company and it needs large amounts of resource.Enterprises also have to adjust their marketing strategies to adapt to the internal and external changes and meet the development needs as imposed by the times.Online video industry belongs to newly emerging entertainment industry and has its own industrial characteristics and policy environment.Therefore,it has its own marketing strategies that differs itself from the traditional ones.Membership marketing has its own nature which is suitable for the online video industry.Facing fierce market competition,how to make the best use of the membership marketing advantages and gain as much customers as possible are both the most urging issues for all big video websites to solve,as well as the purpose of this paper.LETV is a representative company in China's online video industry.Its marketing strategies have distinctive properties.From featuring vast collections of original films and television series,bundling a smart television with membership subscription,and all the way to the production and publicity of its refined self-made dramas,LETV has displayed its unique taste.This paper took the membership marketing of LETV as the research object and communicated with its staff.Combined with research methods such as document analysis,in-depth case investigation,existing issues like the high cost for member acquisition,low member loyalty,and low intention of renewals have been found while carrying out of membership marketing.The study also provided an analysis of the root of these problems,as well as the corresponding suggestions for improvement measures with respect to LETV's actual circumstances.There are five parts of this paper.The first part introduces the background and significance of the topic,overseas and domestic research status,research methods,research strategy,and main content of the research.The second part offers a brief introduction of concepts and theories related to membership marketing.The third part analyzes the internal and external environments of its membership marketing and introduces the current situation of its membership marketing strategy and reveals the existing problems.According to those problems,from the perspectives of relationship marketing and 4C marketing theory,the fourth part raises some suggestions for its membership marketing in four aspects,which include precisely positioning the target customers and lowering the cost for member acquisition;providing rich and high-quality videos and improving member royalty;strengthening brand protection and increasing member preservation;as well as enhancing members' rights and building strong relationships.The fifth part mainly focuses on the provision of warranty to optimize its membership marketing strategy in terms of LETV's availability in human resource,infrastructure and technology,as well as funds.As the internet giants join their forces in this industry,along with the ever-increasing copyright price,the market competition is getting fiercer than ever before.LETV can achieve a competitive edge in this battleground only when it makes the best use of its membership marketing.