OTT MARKETING in Canada.
The internet offers an excellent platform for marketing advertising, and now savvy brands are taking it a step further and focusing their attention on OTT marketing and promoting through streaming services.
Thanks to the power of OTT, businesses are now able to follow their customers on other channels and devices.
Let’s look at OTT marketing and why your business simply can’t afford to miss out.
What is OTT?
Before we can understand what OTT marketing is, let’s first look at what OTT means. Over The Top Platforms delivers content such as TV shows, movies, and videos, all while not using satellite or cable subscriptions.
Examples include Netflix, Crave, and Disney+, TSN Direct. The market for OTT is enormous and continues to grow. It was estimated to be valued at $210 million by 2022.
So what is OTT marketing?
When we speak about OTT marketing, we refer to creating and sending marketing ads via the various streaming platforms. The ads comprise of short videos. These are sets to show before the beginning of the top video, during, and after the video.
The ads run very similarly to how the TV commercials run.
Why choose OTT advertising.
OTT has massive potential as customers continue to turn their attention to such platforms. You can get your ads in front of a vast market and redirect them to your website.
Granted, you may still want to go with standard TV ads. However, if your type of management is centred around trends, then OTT marketing makes plenty of sense.
After all, the nature of OTT marketing is that you can reach customers when they have already given their full attention.
OTT marketing and retargeting.
One of the significant advantages of OTT marketing is that it allows for cross-targeting of your audience on different channels and platforms, including email and social media.
OTT marketing allows brands to send ads to customers through IP targeting and website retargeting.
For instance, you could watch your favourite TV show on Netflix only to see an ad for the same product you were checking out on Home Depot.
It is possible because your Netflix uses the same IP address as your laptop.
Making money via an ad-based OTT channel.
One of the most direct ways your business can make the most via OTT marketing is by using ads in your videos or content. This strategy is called AVOD or advertising based on the video on demand.
One of the significant challenges with this model is that it requires a massive number of video ad views to be profitable. To counter this, OTT channels will allow users to view the video for free without the need for satellite subtraction or cable.
However, the advantage is that it exposes the business and brand to a large audience, thus creating brand awareness.
Consumers like ad-supported streaming.
This one might come as a bit of a shock. After all, you don’t want to get interrupted watching your favourite show. But data shows that people prefer ad-supported streaming services. Compared to ad-free services.
In 2021, for instance, the growth and supported streaming services doubled that of free services. The reason for this is that those who have chosen OTT channels often do that because of the free content, and they are willing to view ads as they do so.
There is huge potential for businesses to tap into Over The Top Streaming Platforms. For one, users have already given their attention which means they will see the ad. Users also prefer to view a few ads if it means getting free content making OTT challenges highly viable for business.