Today, it’s rather difficult to classify what TV entertainment is anymore. With consumption patterns migrating from TV to other devices, it wouldn’t be wrong to call it the ‘post-cable era.’ While consumers spend more time than before consuming content, very little of it comes from traditional satellite or cable TVs.
The reason is simple; we’re witnessing the age of the OTT. Over-the-top (OTT) services are media platforms that deliver viewing experiences directly to consumers through online streaming, bypassing the need for satellite networks. The escalation of the COVID-19 pandemic across the globe has only catapulted the popularity of OTT platforms.
With the growth of OTT platforms and the focus on data gathering through subscription monetization, there’s been a massive uptick in OTT marketing. It is a fast-growing outreach drive and gives advertisers rich consumer information, freedom from broadcasting schedules, and highly targeted delivery. Since OTT platforms’ content isn’t tied to a broadcast schedule, it makes for quite effective product integrations.
For marketers, here are the top five benefits of marketing through these Services –
Data-focused Ad Development and Targeting – With the voluminous user details platforms can gather by deploying the right recurring billing system, advertisers can target their campaigns to specific audience demographics. With access to such intimate user behavior data, one can get much deeper insights into the viewing patterns of consumers. Such precise data can be used to fine-tune ads and schedule integrations much more efficiently.
Huge Reach – Globally, entertainment consumption has seen a shift towards OTT platforms. In India, KPMG’s 2020 media and entertainment report has forecasted that the SVoD subscription base will grow 2.8 times in the next two years to 62 million, driving OTT-based subscription revenue to increase 4.8 times to ₹4,600 crores in FY22. This data point alone tells us why advertisers need to shift their focus to OTT platforms at the earliest.
Low Ad Waste – With focused targeting that’s in tune with consumer behavior, ad wastage is significantly minimized. Being on internet-enabled devices allows the conversion rate to be much higher than what satellite TV’s advertising model has delivered for decades.
Omni-channel Approach – Once you’re part of your consumers’ OTT universe, you will most likely be in their TVs, laptops, and mobile devices. By configuring your CRM to the data provided by the subscription billing management system, you will be able to map to other digital channels and create an omni-channel approach for all kinds of marketing campaigns.
Incomparable Analytics – By leveraging the power of content marketing coupled with targeted digital delivery, marketers will have access to granular analytics data. Not only will this optimize delivery but it would also inform offer and product development. Through intelligent data gathering and billing systems, advertisers can get access to data variables such as –
- Delivery efficacy
- Reach
- Impressions
- Clicks
- Demographic Data
- Interest and behavioral data
- Device Level Performance
- Click-Through Rate (CTR)
- Ad view %
- CPC/CPA/CPL
Additionally, OTT advertising is significantly cheaper than broadcast advertising and can be targeted to a precise demographic.
Advertisers also get to pick how they want to buy ads:
Programmatic Buying – For more efficient and controlled delivery
Direct Platform Buying – Limited to the platform one chooses to work with, but can be very effective in co-creating content
Publisher Buying – Control of ad placement and targeting with lesser manpower/technical implementation.
We’re only beginning to scratch the surface of marketing through OTT platforms. Any platform with an effective recurring billing solution will be able to help you deliver your message in a way that will reach the right audience at the exact right time.
If you are looking for a solution that can equip you with the data you need to make your platform a preferred media channel for advertisers, write to us at – demo@magnaquest.com
