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OTT Marketing Strategy: How to Increase Revenue 12 October 2021

 

If you want to increase your OTT app downloads and revenue, you have come to the right place! This blog will give you a detailed insight about OTT marketing strategy that will help you not only forge a trustworthy relationship with your customers but also build a reliable OTT app marketing funnel.

  

 

OTT Marketing Strategies After the Pandemic

The dynamics of the OTT business has changed drastically after the pandemic. The  two things that OTT marketing need to pay exclusive attention to are:

  • The increased rate of competition
  • disruption of content production pipelines

 

Shift from ad-based to subscription-based revenue models

The pandemic has driven a significant increase in content consumption. But, monetization is still a challenge many OtT companies are facing. The OTT sector in general draws a huge chunk of revenue from ads by eCommerce, FMCG, financial services, and real estate companies – agencies which have suffered a  recessionary impact of the pandemic. Due to this, more and more OTT apps are considering changing their monetization policy from an ad-based to a subscription-based revenue model or a hybrid of the two models.

 

Levering existing content to engage viewers- 

The COVID-19 outbreak has posed many challenges in creating new content halting all the scheduled shoots. OTT players depend on new additions to the content library in order to increase their user base.

The perfect OTT marketing strategy would be to leverage the strength of your existing library and think about content-acquisition strategies like partnerships. One way of reusing existing content is ensuring a flawless content recommendation system for your viewers. OTT platforms should utilize AI based recommender systems to deliver a hyper-personalized content recommendation experience to viewers. As the usage of OTT media apps is increasing, marketers are driving more intuitive changes to the app interface making it more user friendly – from simpler app onboarding to seamless navigation. 

 

Effective Strategies to Improve OTT Video Streaming Services

Here are some tried-and-tested OTT marketing strategies to amp up your revenue!

 

Build a Website

 

The first and foremost OTT marketing strategy is creating a website. You should ideally launch a website for your viewers as it’s typically the first thing they will see before they install your app. By creating a white label OTT website, you can create a brand persona that resonates with your company guidelines and easily upload new content, and offer authenticity for you and your brand. If you already have a website up and running, it will be easy for you to redirect your users to download your app from the app store.

 

 

Understand Your Audience

 

Before jumping into making an app the perfect OTT strategy would be to understand your audience by doing a thorough market research. It’s always a good idea to understand ideally who will be using your app and what kind of content would they be interested in and then designing an app tailoring to their needs and preferences. Building a perfect app with amazing content that doesn’t cater to the needs of your target market won’t help you reach your viewership goals. In order to increase app downloads and app retention, doing a thorough market research is therefore imperative.

 

Push Notifications for First time users

The average push notifications across Android and iOS have a 71% opt-in rate? This data proves the immense opportunity to engage your users and communicate with them without being too intrusive.

Prompting first-time users to enable push notifications ensures you to run targeted, and personalized campaigns highlighting relevant video content, which in turn encourages subscription purchases in the long run.

 

Deliver a Seamless App Onboarding Experience to New Users

25% of users quit an app after using it once and 77% of users drop an app in just 72 hours of downloading it. All this is because of the lack of a good app onboarding system.

 

With the increase in time spent at homes, media streaming businesses are experiencing an increase in traffic and a spike in new memberships. While your existing users already know how to search for videos to watch, it is important that you engage your new users and guide them through their onboarding process. 

Here are the three main goals of an OTT app onboarding process:

 

  • Set-Up: The first goal of app onboarding is setting up the user to the app, i.e., guiding users through registration, log-in details, etc.
  • Educate: Another objective of app onboarding is to educate the user on navigating through the app and other quick tips and tricks
  • Collect Data: Once the user has registered and logged into his/her profile, the data can be collected to better personalize their user experience 

For more details on app onboarding, read our blog 9 Tips to Effective VoD App Onboarding Experience

 

Leverage In-App Messaging Campaigns 

One of the persistent challenges faced by OTT platforms is how to increase the viewership time. Delivering a perfect in-app messaging system matching a user’s viewing history encourages users to spend more time in the app and build curiosity. You can consider this as a unique form of media content cross-selling. Leveraging in-app messages also encourages viewers to engage with a new piece of content without disrupting the user experience. 

 

Social Outreach

Social is a powerful platform to promote your OTT platform. Social media platforms like Instagram, Facebook, and Twitter allow you to directly engage with your users and expand your brand’s reach. Social platforms are a great tool for brand outreach and offer direct engagement with your audience. It’s an amazing platform to keep your viewers up to date with your recent launches, events etc.  you could also rope in influencers interested in offering a review of your app!

 

Wrapping Up,

Now that you have read through our guide, we hope we have been able to enlighten you about OTT marketing strategies to amp up your revenue! 

With Muvi One you can launch your Multi-Screen OTT Platform across website, Android App, iOS App, Roku, Apple TV, Android TV, Amazon Fire TV as well as smart TVs instantly.

Why not take a 14-day Free Trial of Muvi One to launch your white-labeled customized OTT app instantly?

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Sreejata Basu
Sreejata is Senior Content Writer for Muvi’s Marketing unit. She is a passionate writer with a background in English Literature and music. By week Sreejata spends her time in the corporate world of Muvi, but on weekends she likes to take short hiking trips, watch movies and read interesting travelogues.

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