In 2018, experts found that the number of OTT subscribers tripled in the last 5 years. However, this number makes up less than one-sixth of the total US households subscribed to cable, telco or satellite. The number of subscribers is on the rise and you shouldn’t ignore it.
Pricing and diverse offerings push cord-cutters to choose on-demand streaming services. You may think advertising on these services doesn’t work, but that’s far from the truth.
Don’t know how to get the most out of these advertisements? We’ll tell you how to create an OTT (Over-The-Top) advertisement that works. Read on for your straightforward guide to OTT advertising!
OTT Advertising: Can You Get the Most Out of It?
Every type of advertising has its science. Many advertisers shy away from OTT advertisements. The main reason is having trouble measuring their results.
However, new partnerships allow advertisers to track results and expand their reach from traditional tv to these streaming services. Getting the most out of Over-The-Top advertisement comes down using the best strategy.
Don’t know how? Here are the 3 steps you should follow to get the best results on your Over-The-Top advertising campaign.
1. Identify the Right Market for Your Ad
Every streaming service has its audience. Before launching your campaign, it’s vital to identify where you can find most of your potential clients. Is your product designed for the young millennial or baby boomer?
Maybe both audiences use your service or product. Either way, consider advertising on streaming services used by these audiences.
2. Determine Your Targeted Customer
Depending on the campaign you want to run, your targeted customer may change. If your aim is connecting with a millennial customer, you may target a certain demographic to get the best results.
When you determine your target, it’s important to decide how much you’ll spend advertising to this customer. While you may prioritize tv ads, consider diversifying your ad spend depending on your targeted customer.
An example is how members of the baby boomer demographic may use cable, telco or satellite the most. However, many of these customers are now subscribing to Over-The-Top services. Instead of only focusing your efforts on traditional TV advertisements, you can diversify your ad spend to expand your reach.
3. Create the Best Content to Engage with Your Customer
When you market to a certain customer, it’s vital to create advertisements that connect with your audience. When you develop your advertising campaign, take a step back and put yourself in your customer’s shoes. Will they prefer OTT video advertising or another type of content?
How will your product change their lives? These questions can provide insight into ads that may work for your brand. You should also take a look at content such as these OTT advertisements for inspiration to generate ads that connect with your customers.
The Bottom Line
You can harness the power of OTT advertising to grow your business. It all boils down to using the right strategy.
Focus on developing an A to Z plan where you narrow down everything from your brand’s audience to if using OTT video advertising is the right call. Don’t keep thinking about it. Consider diversifying your ad spend today and start engaging with your customers through OTT advertisements.
Are you considering Over-The-Top advertisements? Check out our blog section for more insightful articles about this advertising.