OTT is one of the fastest-growing advertising mediums, and revenue is projected to double over the next five years. Do you know what it is and how you can make it work for your business? We'd like to help provide you with a guide to get started. Here, in under 750 words, you can take a look at the basics of OTT and how to use it as an effective advertising platform.
What is OTT?
OTT, or over-the-top, utilizes connected devices, including television and mobile devices, to stream digital content over the web. OTT is the future of TV, and the average person already subscribes to at least three different streaming services. However, all streaming services are not created equal.
CTV, or connected TV, focuses on content streamed directly to a connected television. OTT, on the other hand, focuses on content that goes over-the-top of your cable provider to a variety of devices, such as Roku, Amazon Fire, Chromecast, and Apple TV. As you select your advertising platform, you may also want to choose a blended approach: one that allows you to choose both CTV and traditional OTT options.
How Does it Work?
OTT includes platforms like Netflix, Hulu, Amazon Prime Video, Disney+, HBO NOW, and CBS. These platforms allow users to choose the content they want to stream when they want to stream it.
Many platforms include ads, either between episodes and programs, or mixed into the middle of the programming. Statistics show that shorter 15-second ads are usually preferred. Some platforms even prevent users from skipping those ads, which can increase the likelihood that a consumer will view your ad all the way through.
Using OTT to Target Your Audience
OTT allows for a high degree of targeting and customization. You can target your audience based on their age, their demographics, and their interests even down to a specific zip code. Are they auto enthusiasts? Is your target audience Spanish speaking? What programs are your users most likely to watch? You can consider all these factors as you create and target your OTT ads.
OTT also makes it possible for you to retarget consumers who have interacted with your content in other ways. Many users stream OTT content from their mobile devices or link their profiles to their social media accounts. As a result, you can see what other content your users have engaged with and retarget those that have made a purchase in the past or visited your website or social media page.
How to Integrate OTT into Your Marketing Mix
An integrated marketing plan can help you see a greater return on your investment than a standalone digital or even OTT plan. You want to integrate OTT into your existing marketing mix so that consumers have more opportunities to connect with your business and understand what you have to offer. Working with a media partner can help you create a more effective marketing mix that combines your existing creative with your new OTT efforts.
Repurposing Your Creative
Take a look at your existing creative content. Do you have a TV commercial that is getting great results? A video you posted to social media that consumers really responded to? In many cases, you can repurpose and adapt your existing creative to create engaging OTT ads that fit the needs of your target audience. Work with a media partner to learn more about how to repurpose your creative and adapt it for an OTT audience.
Creating New Content
OTT allows for the creation of unique content specifically designed for that platform. You may want to create interactive content or encourage consumers to take immediate action. Not only do many people stream content from laptops and mobile devices, an average of 88% of Americans use another device while also watching TV.
Deploying Your Content
By working with a media partner, you can get a better idea of what type of content your users most often consume and how to target them. You can deploy your content directly to OTT or test it out on social media first to learn how your target audience responds.
OTT is an incredibly valuable platform, with more consumers than ever choosing streaming services for entertainment. Are you making the most of this advertising opportunity? Connect with a media partner today to learn more about your OTT advertising options.