1. Larger Audience Reach
Cable and satellite services have a major problem. Depending on who you are speaking with, traditional CTV will be a thing of the past like Blockbuster video rentals and VCRs.
More than 50 million subscribers are expected to ditch their cable and satellite boxes by next year. This is a steep increase from the numbers estimated a few years ago.
Consumers are experiencing monthly savings close to a hundred dollars. This gives them the opportunity to be more selective on which programming they are actually paying for. Cable’s big problem is offering packages with hundreds of channels, but a subscriber may only watch five on a consistent basis.
When it comes to specialized programs such as sports, premium movie channels, and highly-rated cable networks, subscribers had to move to a higher premium package. By being tone death to their customers, OTT developers seized on the opportunity to give consumers what they wanted.
Not only are millions of people cutting the cable cord, but there is also another subgroup that still has cable, and also pays for streaming services.
2. Strong Targeting Opportunities
Most things digital comes with the ability to narrow down your target audience. What some businesses see as a major hindrance when it comes to OTT advertising is the current inability to market on the four major platforms. Currently, Amazon Prime, Hulu, Netflix, and YouTube TV earn their revenue through digital subscriptions and currently do not rely on advertising.
Their success, however, has created multiple platforms that earn the bulk of their revenue by allowing ads to run within the video content.
The focus then shifts back to the advertiser to find which content they want to place their OTT advertising. It may seem complex but the truth is, you develop your target market for OTT the same way you would for social media ad campaigns.
It’s your industry, your product, your service, you’re trying to sell. Therefore, you already know the audience you’re trying to reach. The next step is to do market research to determine which platforms they are viewing content.
Next, which shows they are more likely to be watching. Keep in mind, streaming services are not just vehicles for delayed access to network programming. A lot of these platforms are producing original content. They are also providing an outlet for creators that can’t get network deals.
3 Micro and GEO Targeting
The term micro-targeting may sound familiar if you follow politics. It was one of many buzzwords during the 2012 presidential race. Pundits were concerned its use could impact the outcome of the race in their opponents favor. When you think about it in a purely marketing concept, that is the goal.
Micro-targeting is the practice of zeroing in on your target audience and producing content to influence their decision making. More specifically, it is behavioral targeting. In politics that is seen as a bad thing. Inside the world of OTT advertising, it is targeting gold.
Once you know who you are trying to reach, you’ll need data on their viewing habits and watch-time behaviors. With this information, you can customize your marketing strategy.
GEO Targeting
Withing micro-targeting there is a term called niche-targeting. Geo-targeting can be seen as a niche category. This is where you narrow down your target audience based on their geographical location.
This could be prime real estate for platforms that stream sports and other local content. If two college teams are playing, the niche market becomes people that attend or are alumni. Or it could be people that live within a certain radius of the schools.
The same works if you have a physical location you are marketing. You would look for streaming content that has relevance to your storefront’s location.
4. Powerful Analytics
Analytical data is the backbone of future marketing development. If you do not have data on past marketing strategies, it is difficult to understand how effective you are in reaching your audience.
Almost every digital platform, be it social media or websites, comes with the ability to capture data and insights. This is the information needed to measure what is working and what is not. It is also how a business measures its return on investment.
Streaming services online platforms are no different. Most consumers are accessing content via mobile devices and computers by using an app. Apps come with features that track usage and demographic data on the user.
This alone means the analytics you can obtain by advertising on OTT platforms will come with pinpoint accuracy.
5. Easier to Set a Budget
Utilizing the available analytical data is a great way to set your budget for future OTT advertising campaigns. You may find that you need fewer ads to reach your audience. Or you may learn that you have a bigger reach on certain content streaming on a different platform.
The numbers come down to what the data is showing you. This is the gem of digital marketing. Unlike traditional television or print media where once the sale is final you’re stuck with what you bought. Digital media allows you to go in and make tweaks based on what the data is showing.
In most instances, if you stop an ad you are no longer charged. Fees are based on clicks and views.
For more details on our products and services, please feel free to visit us at: soplayer App TV, free movies online, free local channels live, low cost tv online, online sports streaming.