OTT is a swiftly-growing platform and one of the best ways of attracting more customers to your business. This year, the revenue of OTT video will likely reach over $200 billion, an increase of over 15%! OTT users could earn their chosen service $62.65 each.
You, too, can have a piece of that success when you implement OTT into your current strategy! If you don't know how to launch an OTT ad, we've got some tips to get you started.
The Benefits of OTT
OTT ads run on media streaming services, such as Peacock, Hulu, and PlutoTV. While these ads can be still images or slideshows on pause or home screens, most of them are television-quality commercials. These ads can be placed at specific points throughout a program or right before the program starts.
Streaming services are highly accessible, as you can watch them on your desktop or a mobile device through an app. Smart TVs often have streaming apps built-in to their interfaces, known as Connected TV or CTV.
Of course, that's not to say that TV marketing isn't effective. Most TV ads offer a 300% ROI and significantly increase brand trust! It's one of the most efficient ways to present information to consumers, letting you convey a lot of detail about your business and products. You can increase awareness of your brand and add credibility to your other forms of marketing, such as online or display ads.
The Benefit of OTT
OTT's strengths stem from its online medium. You can target OTT ads more specifically and gain information on viewership habits through analytics. Where TV ads run based on determined air-times, OTT ads will play alongside specific shows, allowing you to reach captive viewers whenever they watch their shows.
Because of this, you don't have to worry about the best time of day to reach a captive audience. When a viewer is ready to engage with their favorite show, they'll most likely engage with your OTT advertisements as well! OTT ads tend to be shorter, playing for a brief period where they cannot be skipped or switched from, which makes for a captive audience who will be more likely to see your ads.
Match With Your Target Audience
For the best results with OTT advertising, you need to find the programs that resonate with your target audience. For example, if you sell cooking products, run your ads on a service that hosts food-related content, pair your ads to those programs. You can also reach out to your followers on social media, asking them what they've been binge-watching lately on streaming services.
For a more indirect method, you can refer to your analytics results. These will show you several identifiers about your customers, such as their ages and personal interests. These may also provide insight into which shows reach the most significant proportion of your audience. If you see an uptick in web traffic or sales after pairing with a specific show, it's likely an indicator that you're reaching a good audience.
Leverage Your TV Commercials
OTT advertising is even easier if you already have an existing television commercial. You can often place it on an OTT service as-is, saving you time and money. Additionally, airing on OTT and TV allows you to reach a broader group of people, increasing your brand's legitimacy and keeping you top of mind with viewers.
Using your existing TV commercial on OTT is the most straightforward and beneficial pathway to getting on the program. Like TV commercials, you want to make sure your ads will resonate with your audience and speak to their interests, sense of humor, and pain points in mind. If you decide to produce a new commercial, plan it from the start to be optimal for OTT platforms by keeping the length shorter or presenting more niche content. Put the focus on the first few seconds to capture attention quickly.
Producing a commercial yourself is a challenging endeavor that requires you to write your script and rent your equipment. Or you may take the time to hire a team yourself and take the chance they will be a good fit with your company. However, working with a media partner can help you leverage their expertise in production and placing ads. They have the ability and connections to get your commercial made and tailored to your audience, then secure the TV spots and OTT presence to grow it further.
How to Get More Tips For Advertising on OTT
Enhanced targeting abilities and guaranteed engagement from viewers, combined with quality advertisements, allow OTT to grow your business quickly and efficiently. Still, the world of OTT is constantly changing, so placing ads on a streaming service often isn't enough to retain customers.
Both large corporations and small businesses can benefit from using a media partner. These professionals can help you laser-focus on your target demographic, create a compelling commercial, and refine your OTT advertising strategy as needed!