These are great opportunities with OTT.
As more consumers are using streaming services, OTT is the perfect extension of traditional advertising, but with the power of digital targeting. The freedom of content anytime, anywhere and the compatibility with multiple devices continues to empower viewers to be selective about their content and how they want to view it. Personalizing advertising to these individuals no longer needs to be limited by geography or broadcast schedules, but rather can be tailored through audience-based data which reveals what they value most.
The audience will tell you what you want.
OTT advertising is an “audience first” media buying approach with the ability to segment audiences by almost any data point generated— demographics, device usage, past purchases and more. Viewers in a certain geographic area might see ads tailored to their location. Viewers in a certain age group can see ads designed that apply to them, and not see ads targeted for younger or older viewers. Since the content is personalized, viewers have fewer reasons to avoid ads. Unlike linear TV, which reaches an entire DMA, you can reach viewers at the individual household and zip code level. You can also build an audience based on their physical location, demographic, income, and psychographic variables and serve ads to those individuals.
Prime time all the time.
OTT has the highest level of engagement among all other digital products. With no ability to skip ads on the big screen, OTT consistently delivers VCR rates over 90%. Viewers have self-selected their content and are tuned-in, making them highly likely to pay attention. OTT advertisers can ensure they reach the audiences they have worked so hard to reach.
Anytime, anywhere. OTT is not as daypart specific so watching ads means users are always “prime-time.” Many streaming users watch OTT content on mobile devices where they can respond immediately to high-quality, personalized ad content that addresses their needs. Compared to traditional TV, the conversion process is practically instant.
Elevate your branding.
Since advertisers can personalize OTT content and track viewer responses to their ads, we have an incentive to make better ads and display them to our most active audiences. The often one-on-one engagement with digital devices creates the perfect opportunity for video storytelling, coupled with interactive creative – digital CTAs such as the ability to click through ads with smart remotes and incorporating QR codes. Placing the actual address, website url, your logo and brand will produce great signals to both personalize and elicit action from your audience.
Video formatting is key for multiple devices including connected tv devices such as mobile, desktop, and smart tv’s with your value prop and CTA immediately apparent on all screen types. Short concise ads (:15 or :30) traditionally perform better given the attention span of the OTT audience, so be sure to pack a punch with concise branding and messaging.
Analytics with power.
Measuring OTT advertising analytics is similar to paid search marketing, using many of the same tools, metrics, and techniques. OTT platforms give advertisers information about user engagement such as showing how many viewers skipped an ad, how many clicked on it, how many converted to a sale, downloaded an app, became a social media follower and more.
This accurate measurement gives advertisers the ability to target users based on their behaviors, preferences, and purchases, with these insights invaluable for getting the best ROI on your ad spend.
The spend depends.
We are often asked “Isn’t OTT more expensive?” And the answer is, it may not be when given consideration to targeting. Because every client is different, with very specific audiences, you have to tailor your media plan based on all the media options and their measurable ROI. Flexibility is key and with the right campaign, ad dollars can go further on an OTT platform, to reach a more targeted, niche audience than with traditional forms of advertising.
MediaDex President, Mike Kiley comments, “The worst thing you can do is try to incorporate too many media platforms, which will result in not doing any well. The good news, is that because they are both video, OTT and linear TV can strategically be used interchangeably in a common geographic area. OTT works when the data informs a very specific target audience, and we can tailor the media plan accordingly.
When you combine OTT Advertising with certain powerful targeting tactics, such as households addressable geofencing, you are gaining more efficiencies in your ad spend.
Work backwards.
Marketers are now working backwards from their target audience and focusing on the channels that attract specific segments. Every client is different, and it takes weighing factors of each one. Your media plan should be tailored to audience-based custom marketplace findings that are formed through data. When you incorporate OTT into your overall marketing strategy, you can re-target your audience through OTT, linear TV, social media, audio ads, your website and any other channel that you use. Bringing your audience into your ecosystem can increase engagement from users across channels.
The ability to personalize advertising for each individual user fits perfectly in the ever-changing media landscape. Advertisers are winning incremental reach on their campaigns by diversifying their media mix to reach consumers across multiple touchpoints, charting a path to raised visibility and ultimately purchases and brand loyalty.
