The post COVID-19 era witnessed a lot of changes in the OTT industry- especially digital transformations and adoption to constantly changing virtual and hybrid business landscapes. As a marketer at any experience level, keeping up with these changes isn’t always easy. In this blog we will elucidate the OTT best practices to keep marketers abreast with the latest advancements in the OTT industry.
Creating Mobile Friendly Content
One of the most high prioritized OTT best practices is creating mobile friendly content. 64% of SEO marketers call mobile optimization an effective investment. Consumers spend more time on mobile devices than anything else. In fact, more than half of annual online website traffic comes from mobile devices, including tablets.
As millennials and Gen Z audiences continue to spend more time on their smartphones, mobile-optimized digital experiences will be even more vital to consider as a business to connect with this fast-paced generation.
Cross Platform Content Marketing
It’s imperative for content marketers to create and deliver a combination of high-quality content and a frictionless user experience across multiple devices and platforms. Needless to say, your content must reach wherever your audiences are.
Today’s viewers consume content on connected TVs or smart TVs, smartphones, PCs and tablets, making it necessary for broadcasters to include a multi-platform content delivery strategy for delivering OTT content. Including this strategy will drive more customer loyalty and engagement. While all types of content can be watched on every device, each screen also has a special role in the consumer’s overall video experience.
Choosing the Ideal Content Monetization Model
One of the most crucial OTT best practices is choosing the perfect content monetization model. Today’s viewers remain fairly torn choosing between the varied content monetization model available. According to research, 30 percent of global consumers would prefer an ad-based model for TV shows/movies, while 23 percent would prefer a subscription model for TV shows/movies.
Consider this- viewers who have more time to spend than money prefer an ad-based model rather than subscription services. Due to the lack of financial commitment, AVOD can serve as a powerful acquisition model.
However, viewers who are more interested in consuming quality content without interruption prefer to pay a monthly subscription rather than watching free content with ads in between.
Pioneered by Netflix and Amazon Prime, subscription video on demand (SVOD) offers a more predictable stream of income for content owners. When choosing the right monetization model for your OTT service, you should keep in mind the below-mentioned factors:
- Content library– if you have a huge content library which is filled with rich, engaging and original content, SVoD would be the ideal monetization model
- Your budget- As SVOD services traditionally survive by offering unique content, they come with a high cost of customer acquisition and retention.
- Audience number- if you do not have a fairly large audience, you can start off with an AVoD model for attracting more viewers to your platform and transition to a subscription model over time.
Try Influencer Marketing
2021 has witnessed a considerable growth in influencer marketing and the coming year will optimize this growing trend further. Influencer marketing has evolved from a commonly-used OTT marketing tactic to a well established practice.
When marketers collaborate with influencers and industry thought leaders, they can expand brand awareness amongst their audience and garner a fan base from the influencer’s own audience.
Well, most marketers can’t afford celebrity influencers but that doesn’t make them shy away from collaborating with micro influencers. Reports suggest 56% of marketers who invest in influencer marketing work with micro-influencers. Although they have fewer followers, their posts often pack a higher level of engagement. Since they are more ‘people-like’ and still have not managed to achieve a ‘god-like’ celebrity status, their audiences are actually more likely to trust their opinions and recommendations.
Deploy A/B Testing
It’s essential for marketers to deploy A/B testing for providing the most intuitive, desirable user experience for your audience. This process can be achieved by testing different UI elements—which may include experimenting with different layouts, VoD themes, branding elements, menu structures, and fonts. We advise you of taking a data-driven approach in order to develop a solid understanding of your viewers’ preferences—empowering you to make informed decisions to drive better user experience.
In order to keep up pace with millennials’ increased expectations for consuming content on an ever-growing list of devices, we at Muvi believe in reaching out to audiences wherever they are. We are pioneers in delivering OTT content across multiple devices and platforms- our OTT offerings empower you to reach wherever your audiences are.
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