As advertisers seek more efficient ways to connect with audiences, more are turning to over-the-top (OTT) advertising because of its many benefits. One of those key benefits is its ability to increase access to audiences through targeted metrics. Additionally, more people are using these services than ever, and their popularity is trending upward, since 69% of consumers pay for at least one video streaming service. As a growing number of people turn to streaming services, OTT advertising is becoming increasingly vital for businesses of all sizes.
The following are some tips to implement in small business marketing strategies if you want to get the best results from your OTT advertising campaigns.
OTT Advertising Basics
OTT, or over-the-top, uses an advertising format similar to commercials, but OTT ads appear specifically on streaming platforms and allow for some varying formats. Many platforms such as YouTube and other video streaming services feature video OTT advertising, which is usually shown in ad breaks both before and during streaming sessions. For example, a relevant 30-second OTT ad could play during a brief break in the middle of a streaming session for a particular TV show, during which the ad would likely be non-skippable. OTT ad breaks also tend to be much shorter than traditional commercial breaks. They’re usually a single, longer ad or just a few short ads. It popularized the 15-second ad format and found the medium is incredibly effective at significantly less cost.
It’s essential to keep in mind that OTT and connected TV (CTV) refer to two different concepts. While OTT is the type of video and audio content delivered through various streaming services, CTV connects TVs in some way to those streaming services. CTV devices include Apple TV, Roku, or smart TVs, which would have certain apps that allow users to stream OTT content on their TV. By targeting people with OTT ads through streaming services on CTVs, businesses can expand their reach to audiences who might not be watching traditional TV.
Allows You To Reach An Engaged Audience
OTT viewership is somewhat similar to TV, but certain differences give OTT the upper hand. Unlike TV commercials, OTT ads are much shorter, and the fact that they’re often not skippable further encourages higher engagement. In other words, people are more likely to view your OTT ads to completion compared to traditional commercials.
Additionally, OTT audiences tend to be more diverse because of the myriad types of streaming programs and genres available to audiences. Considering OTT is an online format, you also have access to more in-depth analytics to target multiple facets of a broad audience. Depending on your goals, you can look at impressions and other metrics for OTT services.
Ads Can Be Better Integrated
Launching OTT ads on multiple digital channels simultaneously can help you reach even more people. With a comprehensive strategy behind your business, you can target platforms like Hulu, YouTube, or even podcasts or music streaming services such as Spotify and Pandora. In the process, you can develop a multi-channel campaign that connects with broader audiences along with groups that are ordinarily harder to reach.
A multi-channel approach can also help increase brand awareness and recall among audiences while encouraging more action. OTT advertising is ideal for both brand awareness efforts and call-to-action campaigns intended to drive sales. What makes this more effective is the addition of shoppable QR codes into OTT ads that allow people to scan directly to sites using their smartphones as ads play. OTT ads can complement the rest of your marketing efforts, including TV advertising, email marketing, social media, and other campaigns. They are increasingly versatile, as OTT platforms are expanding the format of ads to place them on pause menus or browsing menus to increase visibility without inconveniencing viewers. Subsequently, you’ll have the chance to stay ahead of competitors as you establish a stronger and more widespread connection with your target audience.
OTT Analytics Provide Customer Insight
The online nature of OTT ads enables advertisers to gain deeper insight into customers through analytics. In turn, they can target their customers more effectively and pair ads with programs that their customers are likely to watch. Some of the metrics you can view include impressions for your ads, video completion rate, and attribution tracking. You can then see which ads yield the best results and which require some tweaking for better performance. Unlike TV commercials, you can also make instant changes to OTT ads that help you get better results faster.
Use OTT Advertising To More Effectively Reach Your Target Audience
All of these advantages make OTT one of the best channels to use for advertisers. OTT is a growing medium that businesses recognize as an invaluable tool for reaching broader audiences. With a well-implemented OTT advertising strategy behind your business, you can boost your brand awareness and attract more customers in the long term.
However, if you’re new to OTT and want to develop a winning strategy using this medium, it’s best to avoid going it alone. Working with an experienced media partner can help you successfully implement your strategy from the start.