A streaming video service or connected TV (CTV) provides OTT (over-the-top) advertising directly to viewers. “Over-the-top” refers to the ability of advertisers to reach their audiences directly without relying on traditional TV providers to distribute their content.
OTT marketing allows flexibility without geographical restrictions or pre-planned broadcast schedules. And importantly, it will enable advertisers access to a vast and diverse captive market that can be targeted and measured using TV-watching statistics and demographics data.
As with all marketing and advertising, however, strategy is vital. So let’s look at how to harness this powerful advertising platform with your guide to OTT advertising success in 2023.
OTT Strategies – Content
Online marketing is all about content. There are many types of content, such as articles, videos, blogs, and podcasts.
Defining a goal is the first step. How does the content promote something new or drive traffic to the website? It is easier to keep track of progress when there is a definite goal to help focus your efforts. For every product or service in your business, the next step would be to create a target group (TG). OTT content strategy revolves around the TG profile.
Through well-developed OTT architecture, content strategy contributes to audience reach. Your audience viewing preferences are meticulously tracked by top OTT solution providers. In terms of market potential, OTT video offers quite a lot to consumers.
OTT Strategies – Audience
A recurring and essential aspect of any OTT strategy is building upon and improving the target group profile. Your VOD platform will enable you to serve customers better if you understand their behavior.
Any OTT audience strategy’s scalability potential can be clarified by answering the following questions.
- Can you access your target group via cable, streaming, and social media?
- Does each segment of the target group have a high revenue potential?
- Regarding media consumption, what is your target group’s preferred method?
- How can you reach a younger audience with newer platforms?
- What is your communication strategy for loyal customers?
- What kind of customers are viewing the most content?
- Is content more likely to be shared by a specific segment or target group?
- How does the target group consider the range?
- What initiatives are being taken to capture other elements of the TG?
- How do you expect your target group to change within the next three years?
OTT Strategies – Distribution
OTT content can be promoted through various traditional and digital distribution channels. For example, cable networks and movie theaters distributed video before the internet.
VCRs, DVD players, and video rental stores enabled a small amount of time-shifting, which allowed people to watch a wide variety of media at their leisure rather than having to depend on cable.
The over-the-top era of advertising and entertainment has come to fruition, with customers in complete control of what they watch and when. To create a strong distribution network, you must know your TG’s distribution channels.
Other Marketing Strategies
There is no doubt that marketing is about getting the right message out to the right user at the right time, on the right channel, and at the right place. As a marketing strategy, there is a lot of pre-planning involved, but it can be advantageous when executed properly.
Let’s take a look at the most popular platforms.
In today’s world, emails are an essential tool. Using an email is a great way to engage someone without putting in much effort.
Proper advertising, even if intrusive, creates a significant impact. The number of online advertising mediums is exploding: Facebook ads, YouTube ads, Google ads, and many others. Each platform requires its ad format. Try out different combinations to see which works best.
You can build followers on social media organically and communicate directly with consumers on a personal level using social media.
OTT advertising offers high returns on investment regardless of the size of a VOD business or industry. Analyze platforms, track views, and target users’ environments to minimize advertising costs.
It is only half of your success if you measure the analytics and take appropriate action. The performance of your OTT advertising should be measured, as well as impressions, targeted clicks, and more. Your OTT advertisement’s performance can be tracked using the tools most top OTT platforms provide. Using enterprise OTT platforms, you can track every key factor in your marketing budget, including conversions, sales, and ROI.
OTT advertising is an essential part of today’s marketing toolkit; hopefully, this article will help you make the most of it!