PUBLISHED IN
Feb 06, 2023 Category:
Video Marketing
Feb 06, 2023 Category:
Video Marketing
Video Marketing for OTT Platforms for Small Businesses
Reading Time: 6 minutesOTT or over-the-top media is a game changer for video marketing. Unlike traditional means such as cable TV or satellite channels, OTT platforms allow video content to stream over the internet. This offers advertisers a very lucrative channel to meet their audiences and offer their goods and services in a novel way. For one, there are a plethora of streaming channels that advertisers can use to reach their potential customers. While Amazon Prime and Netflix are some of the top OTT channels, there are plenty more that advertisers can explore such as Muvi, Vimeo, Vplayed and more.
Small businesses can benefit from video marketing in OTT channels as they have become the preferred method for watching videos. As per a recent survey by Marketing Drive, 53% of consumers of OTT channels do not mind watching ads if they have to pay a lower price for their subscription. According to Forbes, OTT ad spend is estimated to reach a staggering $14.6 billion by 2023.
Know More: 14 Reasons Why You Should Market With Videos
Table Of Content
Benefits of OTT Video Marketing
There are several benefits of OTT Video Marketing that small businesses can use to their benefit.
#1 Ads on OTT Have Better Impact
In a traditional channel, advertisements go on for 6-8 minutes which is typically known as an ad break or a commercial break between programs. Viewers often change channels to skip the ads as the duration is too long. However, in an OTT platform, ads are shorter and are displayed with their duration. This helps the users to know when the ad will end and typically they stay on to watch the rest of the program. This means that users are actually viewing your ad and also remember it better.
#2 Advanced Targeting
OTT platforms offer a variety of analytics on their subscribers that video marketers can use. They can tell you what the user preferences are and what the users like to watch on OTT channels. Advertisers do not have to make assumptions and therefore can effectively reach their target audience.
#3 Higher Customer Reach
Advertising on OTT platforms allows marketers to reach the most elusive customers. As OTT provides a very targeting marketing approach, it benefits both the consumers and advertisers. Marketers do not have to go for broad spectrum ads to reach customers as the penetration for advertisements that reach customers is high.
#4 Useful Insights
With OTT advertisements, brands can know if a user has watched the ad or not. This a very useful statistic that marketers can use to know how effective their advertising campaigns are on OTT. With the help of pixel-based tracking, it can be determined if a user saw the ad, visited the brand’s website and how much time they spent or if they made a purchase.
#5 Guaranteed Audience
One of the best benefits of OTT marketing is the fact that users cannot skip the ads. Therefore, there is a guaranteed audience. Video marketers can make great use of this opportunity to create brand awareness.
What Small businesses should do to leverage the power of marketing on OTT Platforms
Small businesses can take advantage of OTT video marketing in a more beneficial manner as they pay for views and not placement. An increasing number of people are completely cutting the cord of cable and satellite television. As per a survey by Magnet Global, 76% of consumers have at least one subscription to an OTT platform.
That simply means that digital advertisers have a new channel that they can use. OTT is all about streaming video content and video needs to be created to conform to a platform’s standards. It is not that different from creating videos for social media platforms, but a few things need to be kept in mind to leverage the power of video marketing on OTT platforms.
Storytelling is the key
Video marketing on OTT platforms have to lean more on storytelling instead of making a direct pitch to the audience. The advertising should aim at creating brand awareness and not be all about selling products. You need to focus on building genuine relationships with your audience.
Compelling Call-to-Actions
Your video marketing strategy must include intriguing call-to-actions or CTAs that compel your audience to visit your business website or take some action. For instance, you can use pricing of your products and services to let customers know upfront about the charges. This helps them to compare and arrive at a decision much quicker and respond to your CTAs positively.
Choose your Platform
As mentioned before, OTT platforms offer you statistics and insights on their subscribers. That is a goldmine of information for you as a video marketer as you can target your ads to specific customers. This helps to reduce your ad spends and gets you maximum benefits at a fraction of the cost of traditional advertising.
Focus on Your Audience
Video marketing on OTT platforms is all about your audience and how they perceive your advertisements. Remember that with OTT platforms, subscribers are guaranteed to view your video advertising. Therefore, keep the focus on your audience and offer them content that they can relate to.
Conclusion
OTT platforms offer brands a great platform to showcase their goods and services through video ads. Unlike traditional advertising, video marketing over OTT channels are cost effective and a good option for small businesses to reach their customers wherever they might be. OTT offers valuable data and insights that advertisers can study to determine if their video marketing strategy on OTT platforms is working or not.
It is important for advertisers to keep up with the latest trends and consumer habits so that they can get the maximum out of their marketing efforts. OTT is fast gaining in popularity among users and offer several key advantages to marketers. It is time to create and plan a video marketing strategy for OTT platforms if you have not done so already.
