We live in an age where technology changes, on what feels to be, a daily basis. Ways of communicating are expanding and while we were once limited to rotary phones and a select few television stations; that is no longer the case.
OTT video is the latest innovation changing the way businesses connect to their audience. For many in the audiovisual industries this technology has been around for quite some time, however many businesses are now realizing its usefulness when it comes to marketing to their core demographics.
What is OTT
OTT is an acronym for over-the-top which is a method of providing content to the view via the digital space. The Facebook (News - Alert) Watch shows you stumble across while endlessly scrolling through your feed, the Netflix binge-watching sessions you have each weekend; those are all considered OTT.
OTT is the lastest shake-up to change the game of video content and marketing. Companies such as Comcast (News - Alert) and Time Warner have had the industry cornered when it came to the distribution of video content until some enterprising individuals realized that the internet was an untapped resource.
The OTT Video Revolution
When it comes to ott there are a few brand names that are at the top of the list: Netflix, Hulu (News - Alert), Amazon—the list goes on. Although now we have a plethora of choices when it comes to streaming services there was one out of the box thinker who took the first steps to revolutionize the industry and that is Netflix.
Netflix began as a way to avoid paying outrageous late fees on DVD rentals but as technology changed it morphed into so much more. As sales began to struggle the media company decided to try something inventive—something that, if it worked, would completely disrupt how audiences viewed movies. Offering their subscribers the chance at watching popular movies on demand at a slightly higher monthly subscription. The quality was less than it would be when watching a DVD, however, it was the age of broadband, and the internet could only go so fast. That was in January of 2007.
Marketing on OTT
Fast forward to today, an age where ott is quickly becoming the go-to method to access videos on demand. Traditional cable television is struggling to stay afloat and many have found themselves creating their own OTT platforms.
OTT video is a goldmine of opportunity when it comes to marketing strategy. Never before has there been a time when you can reach so many of your target demographic with one marketing channel. With OTT advertising by 2018, Hulu advertising revenue surpassed 1 billion by properly utilizing OTT video. Let's take a quick look at some ways you can utilize OTT video to help increase your profitability.
Social Media Integration
Our lives are connected through social media. It's a tangled web of interconnectivity where one platform is feeding directly to another as you stare at the feed on your phone then grow tired of that screen so you stream your ott video to another device. Everything in our world is connected and that is the way we like it.
Aligning your video content to your social media channels is key to reaching more people. For those that are on a shoestring budget and cannot afford the high priced studio, you can create your own with a cell phone without ever needing a laptop or overpriced software. The ability to host your OTT video on platforms such as Youtube and then link them directly to your Facebook/Twitter (News - Alert)/Instagram etc is crucial to monetization.
Optimization Is Not an Option
Any content that you put on the web, OTT video especially, you need to ensure proper optimization on every level. This includes researching the video topic and using strategic keywords, optimizing the metadata on your video, using video sitemaps—there are many ways to ensure that your OTT video content is maximizing its reach.
Opt For Some Old School Tactics
OTT video is the newest trend on the market right now but email is still second behind search when it comes to new customer acquisition. I know what you're thinking, what about social media? It's true that social media plays a large part in your branding but with the endless scrolling after a while, your ads have the changes of becoming white noise in the background. With email, this is not the case.
Just as you would any other email campaign tracking the analytics of any campaign is essential to its success. Run a/b tests to see which performs better and over time you will find that a good mix of old school and new school technologies is the best way to reach both ends of your demographic.
Every time I hear the term affiliate marketing I always think of that song that states "I get by with a little help from my friends." This is also true in the world of OTT video.
The option for OTT in-app purchases helps everyone make the most out of this technology. Lightcast, Vimeo (News - Alert), there are a number of OTT platforms that offer great incentives for their affiliates. When looking at setting up a relationship with a third party company this OTT advertising article can help you know which questions are the ones you don't want to forget to ask.
When it comes to OTT video or any other form of technology the best thing for any company or marketer is to stay current with developing trends. OTT video is currently at the forefront of an industry that has become a fragmented and data-driven machine. The biggest shift comes in how advertisements appear in OTT video. We are starting to see an increase in product placement in OTT video content. Consumers no longer want a viewing experience that interrupts their viewing experience. Doing so causes negative feelings towards the brands they are viewing.
The best way for marketers to capture the attention of their audience is through carefully planned out product placement. Stranger Things 3 on Netflix is the perfect example—Eggo's & Coca-Cola anyone? The bottom line is that businesses who are still ignoring OTT video are already falling behind. Evolve your marketing strategy, expand your business, and watch as the profits grow.