Streaming and OTT platforms have boomed in popularity in just a few years. More than half of all households in the United States subscribe to several OTT channels. To keep up with their customers, many companies are now placing their ads on these streaming platforms.
However, it might appear challenging to implement streaming ads into an existing strategy. Here are the main streaming and OTT marketing tips to keep in mind.
Laser-Focus Your Targeting
OTT advertising promises a good ROI no matter what your target audience looks like. However, certain forms of advertising might not work for your particular audience. For example, mass marketing is a cost-effective strategy that can reach vast amounts of people. While many viewers will see your ad, only a small percentage of those views might turn into an actual sale.
You can also use niche marketing, producing ads that only appeal to very specific targets. While this results in more guaranteed traffic and profits, it can be hard to determine your target's preferred OTT platform. The majority of OTT subscribers are millennials, however older generations have started to subscribe to more streaming services. You could use surveys to determine which platforms your target watches, but not every customer will participate in these.
The most balanced approach is using segmented ads targeted to multiple demographics. Using segmentation can increase a company's revenue by as much as 760%. Additionally, most marketers have at least three target personas in mind when creating ad copy.
However, it's still important to be consistent with your messaging. No matter how different your customers are, they all share a common interest through your company. It's important not to deviate your messaging to favor certain demographics over others.
Personalize Your Ads
Many advertisers believe that low prices and frequent discounts get the most customers through the door, but statistics say otherwise. Recent marketing statistics show that 90% of customers like personalized advertising. Many consumers like personalized content so much that they are inclined to share personal data to get relevant ads.
Everyone knows how annoying spam texts or emails can be, so try to stay away from generic and repetitive advertising. Seventy-four percent of customers will lose interest in a brand without personalized marketing. It’s not uncommon for consumers to only do business with brands that take the effort to personalize their campaigns.
Personalized ads may require more effort, but the end result is more loyal customers. Whether they realize it or not, many consumers find themselves emotionally invested in their favorite brands. This attachment is strengthened by positive reactions on social media or helpful customer service on these platforms.
More happy customers also means that your brand will have a positive reputation. No matter how good your product or service is, the majority of brands are overlooked by the public. It can be especially difficult for small businesses to expand their customer base while competing with more popular brands. Loyal customers and relevant advertising on popular OTT services will keep attracting new customers and unique impressions.
Take Advantage of Cross-Channel Retargeting
While most people have an OTT subscription, they're not tuned into that service 24/7. That's why it's important to keep your brand relevant by advertising on multiple channels.
TV ads are often paired with digital ads because using the two together yields the best ROI. Viewers, especially millennials, are often using their phones or tablets while watching their favorite programs. If your ad has a clear call to action (CTA) that directs viewers to an online landing page, it makes the customer journey easier.
People also use their smartphones to browse social media. While not essential, sometimes it’s beneficial to purchase ads on social media. These ads can be easily shared and seen by your target's friends and followers, who often share the same interests.
Implementing Streaming and OTT Marketing Tips Successfully
Advertising on OTT platforms allows you to reach more members of your target demographic with content tailored to their interests. Streaming ads can also make your brand more cohesive across multiple platforms. If you're still unsure what kind of content your audience wants, subscribe to our blog for more tips.