What Taylor Sheridan and Paramount+ Can Teach Us About Lifecycle Marketing

Like Yellowstone did for Montana, I have a feeling that Billy Bob Thorton is about to make Midland/Odessa a tourist destination.

My wife and I were watching the new Paramount+ series and Taylor Sheridan creation, Landman with Billy Bob Thornton. On a personal note, I highly recommend this new show. As a native Houstonian and the son of oil and gas lawyers, I can tell you firsthand that it accurately depicts the oil patch, Wildcatter culture, and the characters you will meet if you are fortunate enough to be exposed to the petroleum sector.

I bring up Landman because it resembles the Paramount+ hit and personal favorite, Yellowstone. The characters are remarkably similar, as are the plots and even the settings (in terms of culture, not aesthetic beauty - my West Texas friends will even agree with this one). The lack of relative originality does not bother me at all. In fact, I love it.

But why would I love such a lack of imagination? More importantly, do I actually crave it?

In my case (and I suspect with many Paramount+ customers), the answer is a resounding "yes" because I enjoyed the original offering, which is now possibly scarce (Yellowstone is potentially in its last season). So, what do my streaming habits have to do with customer lifecycle marketing?

When Product Meets Promotion

Last week, we discussed defining segments determined by how users interface with a product. We, however, only talked about it within the context of an indefinite relationship between the offering and the customer/user, such as social media products, news service apps (i.e., CNN or Major League Baseball), and direct-to-consumer resource-based healthcare applications for various chronic conditions. These firms offer a free service where their revenue derives from advertising, a premium service, or some indirect revenue model.

Subscription models, however, are quite different in several respects. Here are a few:

• An actual money exchange occurs in a time-based cycle, typically every thirty, ninety, or 365 days.

• Marketing strategy is usually rooted in a collection of 30-, 90-, or 365-day data cycles.

• The data inputs a firm receives from the customer journey are better at identifying customer trends that are more timely and, thus, more applicable in implementing agile marketing strategies.

• Acquisition is important, but retention is everything.

Paramount+ and similar subscription services offer a fascinating case study of these dynamics. They are keenly aware that their ability to retain subscribers depends on a steady stream of content that aligns with audience expectations. Landman is not simply a new show but a calculated extension of the Yellowstone experience. It caters to existing fans by leaning into familiar archetypes, themes, and narratives, fostering a sense of continuity even as it provides an entirely different story. Landman is also heavily promoted in-product and through external channels to users who watch Yellowstone.

This approach highlights some of the interplay between product and promotion in subscription-based models:

• Content as a Retention Tool: By delivering shows that echo the themes and tone of their most successful offerings, Paramount+ minimizes the risk of churn. Such an approach is similar to when a company delivers a product extension. Simply put, the existing customers know and like what they are getting and want more of it while not really needing or wanting the exact same thing. This concept is especially true in the entertainment sector, where familiarity breeds loyalty and subscribers seek a broader and more emotional connection with content (for example, I'm pretty sure all Yellowstone fans had a collective internal cheer when Beth and Rip got married).

• Agile Marketing Strategies: The feedback loop is rapid with subscription models. Viewer data - time spent watching, episode completion rates, reviews, and more - guides decisions about future programming and promotional strategies. If Landman succeeds in keeping the Yellowstone audience engaged, Paramount+ will likely generate more offerings that adhere to this proven formula.

• Lifetime Value Focus: For streaming platforms, the goal is to maximize customer lifetime value (LTV). This approach requires a deep understanding of customer preferences and a proactive approach to meeting them to lengthen the shelf life of the relationship between the subscriber and the product for as long as possible. Whether discussing exclusive content, tailored recommendations, or seamless user experiences, every positive touchpoint contributes to retention.

• Scarcity as a Strategy: The impending potential conclusion of Yellowstone creates a void, but that void is an opportunity. By timing the release of Landman to coincide with this possible gap, Paramount+ ensures continuity for viewers who crave more of the same universe, even if it's in a different form.

From Binge-Watching to Brand Loyalty

What streaming platforms understand - and what other subscription-based businesses can learn - is that the customer journey does not end with acquisition. At this point, I want to say something incredibly obvious: the success of subscription-based models hinges on providing the existing value that customers seek at every touchpoint. In short, they do not care what you did for them last night, week, or month, which can result in unsustainability for some firms. In other words, the firm cannot profitably acquire enough new customers to compensate for excessive churn. For Paramount+, that value lies in storytelling that feels fresh and familiar and creates worlds that viewers do not want to leave (or if they have to, the distance to the next destination is short).

For businesses outside the entertainment sector, the principles remain the same:

• Understand your audience deeply. Know what they value and what keeps them coming back.

• Anticipate their needs, especially during transitions or potential pain points.

• Deliver continuity, whether it's through products, services, or experiences that align with their expectations.

In the end, it's about fostering trust and loyalty. Whether it's a television series, email marketing software, or overpriced exercise equipment, customers return to what they know and grasp as long as it continues to fulfill or exceed their initial expectations. 

Have you ever worked in a subscription-based environment? Please share your experiences below and let's get a conversation going. 

If you and your team are facing some customer marketing challenges, schedule a free one-hour consultation. I would love to learn more about your organization and discuss how I could help you and your team drive meaningful and impactful results.