Analytics and Reports play a big role in the success or failure of any business, same is the case with OTT Platforms. OTT and VOD players rely on analytics and reports to get a better understanding of consumer insights to tweak their future strategies and provide better experience to their customers. With the OTT market getting crowded, audiences around the globe have a variety of options, thus making it tougher for players to retain their subscribers.
Having the right mix of analytics and reports can not only help you entice new customers, retain subscribers and help you scale your OTT business exponentially. Thus it’s important for OTT and VOD Platforms to focus more on analytics and reports to understand all the possible consumer insights to make their customers stick to their platform
Analytics and Reports are one of the key elements that can help you understand your customer better and help make better decisions based on all the information generated from the reports, starting from ROI to other effective customer insights.
Capturing and Keeping the Eyeballs
To succeed in the OTT Ecosystem you need quality content, excellent user experience, personalization, right mix of pricing plans, deeper reach in terms of platforms and apps and pace of content refresh.
The deeper you understand about the viewers and their likes, dislikes and preferences, the better your ability to optimize the viewing experience to their needs. So, the question here is how to measure, track, and check the reports on your OTT platform and get a deeper dive on the key metrics one should focus on for an online streaming platform?
Here is a quick snapshot of necessary metrics that you need to keep a tab on, for growing your VOD Streaming Platform:
ROI report – Data at the Heart
An analytics report can provide you detailed information on Engagement Rates – View Count, Watch Time, and Conversion Rates.
These metrics can help you to better understand what type of content is working for your platform and thus help you streamline your content strategy accordingly.
With monetization options enabled – you can generate reports to help you get information on each revenue stream like Subscriptions, Pay-per-view, Physical goods sales, Bundles offers, and others. These reports give you better insights on which revenue model works for your platform and assists you to tweak them accordingly for better results.
Website Analytics –Enhancing User Experience
Website Analytics provides you with an overview of the traffic that is generated from various sources. Along with your OTT platform, one should also focus on website analytics to leverage that data in creating robust design frameworks. A good design framework helps in enhancing the user’s journey and is crucial for creating a smooth interface. Google Analytics is considered by many as one of the best options for better insights on website analytics.
With Google Analytics, one can get reports on which content is performing well vis-a-vis other contents, which page is appealing to your users, which page is gaining the highest traffic and from where. These analytics also give you click-through rates, and other performance metrics to help formulate a better design strategy.
User Views – Detailed Insights on User Actions
User Views provide detailed insights on user behavior based on how users interact with your content. Analytical metrics such as views, watch time, content performance, and PPV monetization are provided through the User Views report.
You can track content to the per-user level, to help you understand each user’s personality and mapping it to provide better content recommendations based on their actions. This helps you determine expectations from your OTT platform and enables you to create a holistic content framework to keep your customer glued to the platform.
Content and Bandwidth Statistics
Content and Bandwidth Statistics are another key factors to help you understand your users better. Components such as bandwidth, device capabilities and optimised content quality affect user behaviour in terms of how content is consumed on your platform. As seen in the emerging markets, providing better infrastructure and higher bandwidth to consumers increases the chances for higher consumption and increased adoption of OTT platforms.
Having information on metrics such as device data, bandwidth capability can help you determine the optimised path for faster delivery and quality of your content. With the onset of high speed internet and increased adoption of mobile/handheld devices, platforms are now optimising their content accordingly. If a large sum of the audience on your platform consumes content through their mobile phones, it is imperative for you to optimise content and pages to deliver them in the fastest way without compromising on the quality of the content. This will be an addon for creating a rich user experience and help you for streamlining costs as well.
Partner Analysis and Reports
If your OTT platform allows the partner content, it is pivotal to track and analyze the performance of partner content as well. With partner analytics, you can understand crucial elements such as content viewership and revenue generation. This can help you determine your future revenue sharing talks based on their performance reports.
Getting ahead in the game with Muvi’s analytics and reports feature:
Muvi’s Analytics and Reports help you discover each video’s actual and real-time performance and audio content. It enables you to strengthen your content strategies. Muvi helps you in optimizing the entire OTT platform with concise analytics and reports, all accessible through one dashboard. Muvi also offers google analytics integration, white-labelling of your platform, and grants access to your partners for uploading and managing their content.
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