How people view online content has changed over the last couple of years. Audiences are gradually shifting from mainstream media to streaming services.
As of the end of 2020, the widespread use of over-the-top (OTT) media provided via the internet has become more than just a trend. Currently, video streaming services account for approximately 25% of total TV viewing time among consumers.
OTT advertising explained
Before discussing how brands benefit from OTT, the question that comes to mind is, what is OTT exactly? And how can your brand be well-positioned to enjoy its benefits?
Over-the-top (OTT) advertising is advertising delivered via streaming video services or devices. Some of the most popular OTT streaming platforms are Amazon Prime Video, Peacock TV, Disney Plus, Apple TV+, HBO Now, Netflix, and YouTube.
A recent report shows that at least one in every four persons uses an online streaming platform. Households are eagerly converting to online video streaming platforms.
What does this possibly mean for brands?
The way people watch TV and movies is changing. As more people cut the cord and watch their preferred content on Over The Top devices, brands may employ advanced digital advertising to reach their target audience and boost ROI. With its ease of access and customization, OTT media will dominate the future of media consumption, positioning it as a prime marketing opportunity for brands seeking a competitive advantage.
Reasons why brands should use OTT advertising
Easily reach your niche target audience
Over The Top advertising allows advertisers to target specific niches rather than broad audiences. Niche targeting provides demographic data that can tell who is watching your ads and when they are watching them. These can assist you in identifying and targeting a more engaged audience.
This also allows you to tailor your content to your target audience. You can target users based on their device, region, type of content, ad preferences, gender, age, browsing patterns, and recommendations, among others.
OTT allows your brand to reach a larger audience
With precise OTT ads, your brands can reach more audiences. Many people have shifted from primetime broadcasts to internet-connected devices to enjoy their favorite media. Brands can use OTT platforms to get their products to the eyes of many viewers.
Better interaction with the consumers
Viewers can interact with OTT ads by clicking on links, taking surveys within the ads, and even opening new tabs to search for specific products or services. This level of interactivity provided by OTT creates a clearer, shorter path to prompting a consumer purchasing action.
Better ROI for your brand
You can define your target audience and create relevant and engaging ads using an OTT platform. More engagements will result in a higher ROI for your brands than traditional forms of advertising.
OTT adverts are flexible
You can save money with OTT by only displaying your adverts to engaged viewers. You can launch, pause, and resume OTT campaigns on several platforms anytime. As such, you may adjust the content of your campaign and the advertisements you are running in real-time to get better results.
The bottom line
OTT advertising is an excellent way to connect with your target market and build new and larger audiences for your brand. To get your business to the next level, you want to start incorporating an OTT advertising strategy into your marketing strategy today.
