Digital entertainment consumption has seen a shift from satellite cables to streaming services like Hulu, Netflix, Amazon Prime Video, and Disney+ Hotstar. The viewers are quite literally cutting the cord to access content provided by the internet. With a rise in viewership, the brands are also moving their ad dollars to OTT marketing. But unlike traditional television, entering the streaming universe without an actionable OTT strategy can cost you more than it earns. All it takes to succeed is a robust mobile attribution provider, like Trackier Mobile Marketing Platform that can unlock the knots of OTT marketing with real-world consumer data for precision targeting, personalization, and optimization that drives results. Not sure how to navigate? Let us lead your way!
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What Does OTT Stand For In Marketing?
The 21st century has transformed the way we consume content daily. Earlier we used to rely on traditional satellite cable to watch our desired shows and movies. Instead, now we favor content that is easily accessible to stream using services like Hulu, Netflix, Amazon Prime Video, and Disney+ Hotstar.
OTT stands for Over-the-Top streaming and helps deliver content to users in rich video format. Since COVID-19, we have witnessed a rise in digital consumption, especially for at-home subscription-based models. Social distancing, isolation, and general health precaution norms made individuals seek solace in multiple OTT video-streaming services for entertainment purposes via internet-connected devices.
OTT platforms deliver video content at your fingertips, without any interruptions. According to Nielsen data, it is estimated that 80% of the United States population spends a considerable amount of time on their smartphones and other wireless devices to consume audio-visual content.
With such high viewership, it creates a near-perfect platform for brands to market their products. This is called OTT marketing or advertising. So, let’s wait no further and understand the mechanism behind OTT advertising in a simplified format!
Workings Of OTT Marketing
OTT or Over-the-Top refers to the ability of streaming companies to bypass traditional TV providers. Have you noticed more ads popping up on streaming services lately? With cord-cutting on the rise, brands are shifting their ad dollars to OTT platforms. The ads can appear before, midway, or after the media has ended. Typically, the advertisements are not more than 60 seconds long, and mimic traditional commercial breaks on cable satellites.
OTT ads enable ultra-targeted marketing based on viewer data. Plus they’re harder to skip than old-school TV commercials. For advertisers, it’s a win-win: engaged audiences and less ad avoidance. For us viewers, it means short and relevant ads interrupting our binge sessions. But that’s the price we pay for endless on-demand content these days.
When an OTT platform is installed, it generates quick pop-up notifications to grant permissions to the application. These permissions help to collect data like media consumption behavior, demographics, and preferences. From thereon you can create your own OTT marketing strategy that targets users with personalized ads that talk about themes or products having already appealed to the user’s interests.
For example, if you watch multiple beauty shows that promote transformation through cosmetic products, you might start seeing advertisements on your OTT platforms for makeup products, new cosmetic equipment, etc.
6 Pillars of OTT Advertising Strategy That Leverage Your Brand
Pre-Roll and Mid-Roll Video Ads
Short video ads displayed before, and during the program are a simple way to gain OTT exposure. Hulu pioneered the concept, but now YouTube, Amazon Fire TV, and others all offer video ad inventory.
Influencer Marketing
Collaborating with influencers, ranging from nano-influencers to celebrities with more than a million followers is seen as an effective way to reach a larger audience.
Memes Advertising
All corporations big or small have started incorporating memes to highlight their relatability in attempts to sell their products or services.
Product Placement
Integrating products into the video content seen by viewers creates a sponsor partnership. It is an effective way to advertise and generate revenue.
Native Ads
These ad formats help to push organic brand discovery through watch history and search engines. For example: if you watch a food-centric YouTube channel, you will receive ads that are related to the art of cooking or kitchen-keeping.
Shoppable Ads
These are call-to-action ads that require an instant click within a time frame of 30-60 seconds to take you to a landing page to complete your instant purchase.
Gamified/Interactive Content
Collaboration with the viewers stands as the most rewarding ott advertising strategy for brands. For instance, in 2018 Netflix rolled out a Black Mirror: Bandersnatch episode that offered options to the users on deciding the future of the main character.
Bottom Line
OTT advertising is the best way to generate revenue for your video streaming platforms. Personalized and targeted OTT advertising is the new-age way to reach audiences of all sections through smart TVs, mobile devices, and tablets! What works best for OTT advertising is that there is no time restriction as to when an advertisement can roll out to the audience. It is an automated presentation of ads that help generate interest and retain an audience base over time. But like all other things, it is no use if you put out all your ideas without a strong foundation. Creating a multi-faceted OTT marketing strategy that takes into account the nuances of user behavior, platform capabilities, and attribution characteristics is necessary to ensure success.
