The world has already
shifted towards digital platforms and the newly born OTT video market is on its
brink of disruption. It is the largest global media opportunity people have
seen in decades and is currently the most viable options for brands offering online video streaming and video on-demand.
With a variety of OTT
platform providers, it becomes important
to streamline your requirements and choose the one which give you the power to
do more. The power to harness the technology, and outrun the conventional
supremacy of TV. It’s time to leverage the agility and scalability of internet
to maximize your revenues and make strategic decisions.
With the expected
potential of OTT, it would not be surprising to hear that it estimated a
consumer paid revenue of approximately USD$ 68 billion in 2018, and is
estimated to touch the mark of USD$ 159 billion by 2024. Thus, it becomes
highly important to scale up and optimize your video advertising strategy, so
that your online video streaming platform too is a part of this enormous
industry.
Define a clear content strategy
Rich and informative content increases the value of video
streaming. It thus becomes important to follow a focussed and compelling content
strategy to build a firm foundation of your advertising strategy. The
conventional TV platform significantly increased the number of channels that
only appealed to a niche segment.
The intervention of digital video amplified
the trend and with content creators on the rise, its unique content everywhere,
targeting each and every set of audience. This is one of the key advantages OTT platforms have over conventional
forms such TV & Radio, the content is more engaging, appeals deeply and is
more economical.
Ensure maximum business model agility
The current OTT video
platforms have thrived using a fine mixture of free, advertising based
subscription and transactional business models. The current OTT video platform
leaders have effectively utilized unique and innovative business models to
increase the adoption of their multiscreen services.
For e.g Hulu, launched a
PC application that was free but supported ads. It gave the consumer the option
to ‘choose-your-own’ ad format to customize their user experience. It also had
a ‘No commercial’ plan with even more control over their OTT viewing
experience.
Adapt marketing tactics to nurture your audience
Social media marketing –
By leveraging the social media platforms like
YoutTube, Facebook, Twitter and more you can build a buzz around your platform.
It majorly helps when your platform is offering video on-demand and other live
events.
On-air promotion – These are one of the most valuable video advertising strategies
for driving increased viewership. The strategy can be effectively utilized to
generate app downloads and cross-promote other channels.
E-commerce – Leading OTT service providers are tying up with retail brands
to extend their marketing plans. Roping-in content with merchandise
significantly boosts the revenue, gives a positive effect and improves the
brand value.
Cater to all screen sizes
The entire viewing
experience is divided into 4 basic screen categories – TV (Big screen),
Smartphone (preferred screen), Tablet (portable screen) and PC (versatile
screen). Each of these screens offer a different viewing experience and are
equally preferable under different circumstances.
The platform providers need
to ensure that their content is accessible across these screens to extract
maximum viewing loyalty from their audiences. Scalability here is an important
thing to consider.