The expression refers to promotional provides or reductions that may be out there to people who have already got a Netflix subscription. These incentives, sometimes within the type of alphanumeric strings, will be entered throughout the fee course of to cut back the general price of the service. As an example, a subscriber may obtain a particular sequence of letters and numbers that, when utilized to their account, grants a share off their month-to-month invoice or supplies a complimentary improve to a higher-tier plan for a restricted time.
The relevance of such incentives stems from their potential to foster buyer loyalty and retention. By providing financial benefits to present subscribers, firms might encourage them to stay with the service relatively than change to a competitor. Traditionally, these sorts of promotions have been generally deployed to mitigate churn, particularly in extremely aggressive markets or in periods of financial downturn. They can be used strategically to advertise new service options or encourage adoption of premium subscription ranges.
