Over-the-top (OTT) advertising has exploded in the last decade, commanding a significant portion of ad budgets in many types of businesses and industries. No matter your brand, OTT can reach your specific audience and assist in acquiring the consumer data you need to hyper-target them in a way that resonates and encourages action.
Seventy-one percent of internet users use an OTT service at least once a month, and more than 65% of OTT viewers who own a second screen will look up product information on the other screen while watching content on their main screen.
OTT delivers content over traditional cable and directly to consumers, allowing advertisers the perfect opportunity to reach their audience anywhere there is internet access. Although it is relatively new to marketing, its future in advertising is bright.
Here are the three most significant advantages of OTT and how you can maximize your marketing potential with them.
Easily Reach Your Target Audience
First and foremost, you can reach your specific audience with OTT. This is significant since marketers can combine the popularity of TV advertising with the tracking and measuring capabilities of digital.
With this insight and more into OTT viewers, you can narrow your targeting. This means you can save time and money by not wasting your efforts on parties that would never be interested in your offer and give more attention to consumers who benefit from your offer.
Find an Engaged Audience Across Multiple Channels
There aren't many marketing opportunities that increase recall and recognition among your target audience, but OTT is known for it. Since OTT viewers are among the most engaged and active on multiple channels, you have an increased chance to connect with them.
You can find your audience on one or more of the following OTT platforms:
- OTT TV: Gaming consoles like Xbox and PlayStation, connected devices like Roku and Amazon Fire Stick, and Smart TVs.
- OTT Video Streaming: YouTube, Netflix, Amazon Primes, Hulu, Disney Plus, etc.
- OTT Voice Calling: Skype, IMO, and WhatsApp.
- OTT Messaging: WhatsApp and Facebook Messenger.
As for engagement, 72% of OTT users can recall seeing a specific OTT ad! That means that most viewers who come across your ad on an OTT platform will be engaged enough to remember it.
With OTT services like Netflix, Hulu, Disney Plus, and more, you'll also get a more engaged audience since many users opt-in to view ads to pay less monthly. Ads delivered to an audience that clicked 'yes' to receiving them will benefit much more than those sent to consumers who get easily annoyed with them.
Get More for Your Ad Spend
The biggest challenge of any marketing strategy is limiting ad-spend waste and maximizing your advertising budget to reach your objectives. The digital benefits you enjoy in digital marketing methods like social media and email are extended to OTT advertising.
This means you can tap into all the tracking and measuring that has enhanced consumer engagement with OTT. OTT also gets you more for your ad spend in the following ways:
- Access only viewers in your target audience (less ad-spend waste on uninterested consumers).
- Base the content you deliver to viewers on consumer data to personalize and resonate with them more efficiently.
- Use multichannel strategies to encourage more immediate actions (for instance, delivering an ad on a popular video stream, then following up with a QR code to your website - taking them straight to the product for them to purchase).
Any opportunity that limits ad waste and maximized ad spend is worth the venture.
Craft Your OTT Advertising Strategy
As you can see, OTT advertising has a host of potential in marketing. Countless businesses are already seeing results from their efforts in OTT, and it shows in all the research data that conveys significant growth from year to year. Your brand, combined with a media partner’s experience and expertise, will take OTT to new heights.