Streaming TV platforms have dominated the entertainment industry, making them the preferred choice for viewers, especially for the millennial and Gen Z demographic. In fact, 90% of 25–34-year-olds and 87% of 18–25-year-olds watch TV content via the internet and streaming. With a wide selection of choices of platforms, streaming has opened up an entirely new market for Over-The-Top (OTT) advertising. This transition from cable TV to streaming requires marketers to adopt a new strategy. At Strategic Marketing, we stay up-to-date with changes in the marketplace. Let’s go over some benefits and best practices for OTT advertising.
Direct Targeting
Streaming TV has allowed for more niche markets to make themselves increasingly accessible. Understanding the values and lifestyles of consumers has sparked the creation of channels for specific content, including gaming, real estate, travel, and so much more. Giving people options eliminates the irrelevant content they don’t want to see and gives you the chance to pique their interest.
These valuable targeting opportunities can also increase customer engagement. When a consumer sees an ad related to their immediate needs or wants, they are more likely to follow up with the brand on their website and social media, and conduct research to start the buying process.
Low Risk
Another great advantage to OTT advertising is the low-risk opportunity for high reward. Unlike competitive cable TV, streaming ads require a low up-front investment. This is because rates are based on CPM, meaning you only pay if someone views your ad. TV advertisement rates are based on a variety of factors including the channel, time of day, the length of your ad, and more. With a competitive and over-saturated marketplace, ads can get lost and ignored. Ads on streaming platforms can be strategically placed and put on your preferred schedule to get the viewership you’re looking for and maximize ROI.
Real-Time Results
One of the biggest benefits of OTT advertising is the ability to get results almost instantly. With TV advertisements, getting results takes time and testing in order to measure their effectiveness. Streaming ads allow for near-immediate results from click-through rates, impressions, and more. When you’re able to follow your campaign in real time, you can make changes then and there to increase its effectiveness.
Best Practices
Once you’ve decided to reap the benefits of OTT advertising, there are a few tips you should know:
1) Introduce your brand at the beginning of the ad. This may seem obvious, but you only have a few seconds to grab the attention of viewers and make them remember your name within a 15-30 second ad spot. If it takes too long for a viewer to know your name, you can kiss their business goodbye.
2) Make a few versions of your advertisement. This is especially important if you have a few different markets you want to reach and can’t fit everything in one spot. Tailoring your content to fit different audience segments will show your versatility and help you reach more people. As always, make sure your content is optimized for all devices: television, desktop, mobile, etc.
3) Have clear calls-to-action. Another distinct aspect to include, CTAs are what spark people to investigate your brand. You’ve gone through all the work of targeting your unique segment of consumers, now you must convert them into customers. Whether you want more calls to your business, visits to your site, or increased sales, make your goal apparent within your content.
Start Your Campaign Today
If you want to create an OTT campaign, let the team at Strategic Marketing be your guide. We have over 30 years of experience developing advertisements for all platforms to best fit your business and goals. From the creative development to placement on the most-fitting platforms, we will develop your campaign from start to finish, all in-house. Contact us today to begin your OTT advertising journey and get the results you’re looking for.
