Over-the-top (OTT) advertising is a growing industry that more and more businesses are using. It's a great tool to reach your audience when adequately implemented, appealing to audiences who may not see you on traditional TV. Today, around 52% of adults in the US over 18 use a minimum of one OTT service and nearly a third of adults 55 and over, watch OTT streaming content. If you're not using OTT, you're missing out on an increasingly lucrative opportunity to maximize your reach and ROI.
Still wondering, "why should I market using OTT?" There are many reasons why you should be using this channel. Here we'll review what exactly OTT marketing is, the advantages it offers, and how to develop effective OTT advertising strategies.
OTT Marketing: A Recap
OTT marketing is a marketing strategy involving displaying ads on various online video streaming services, which could appear on connected TVs (CTVs), computers, or mobile devices. OTT services include various streaming platforms, from video services such as YouTube and Hulu audio streaming services like Spotify and podcasts. These allow advertisers to play ads before, during, or at the end of videos, pausing the main video until the ads have finished playing. For example, you may watch a feature-length movie using a basic free Hulu account, in which case there will be periodic ad breaks that play a few ads before resuming the movie. Each ad on OTT services typically plays for around 30 seconds, and in most cases, they're not skippable, ensuring viewers watch them to completion.
Many people watch streaming services for the convenience of watching videos on-demand, without the need to tune in at a specific time like they would with traditional TV. For advertisers, this offers many advantages that you can't get with other platforms. Using it the right way, OTT can positively affect your business in several ways.
The Benefits of OTT Advertising
One of OTT’s main benefits is it enables you to reach a younger audience on multiple platforms, extending beyond conventional TV. OTT ads have high engagement rates, and they aren't limited to TV streaming apps.
In addition to video streaming platforms, you can advertise on audio services, including Spotify, Soundcloud, and other music and podcast streaming platforms. This media range allows you to connect with audiences across a wide array of interests, from busy professionals to college students.
Your ads only play when people are listening or watching their favorite media-on-demand, without the limitations that come with playing your ads at a specific time when people may not be engaged. Seeing as most OTT ads are unskippable, this also helps make sure that more people hear or see your ads all the way through. The shorter ad breaks further ensure that people don't step away during your ads.
Making an OTT Strategy
OTT marketing works when combined with other parts of your marketing strategy. It also works in conjunction with TV and digital campaigns, complementing these efforts for increased brand awareness and recognition. However, you need to make your advertising goals cohesive across your campaigns. This enables them to work together more efficiently.
OTT has specific analytics that makes it easy to track how ads are performing. Subsequently, you can better determine whether your ads are reaching the right audience using the right strategy. With in-depth insight into your campaigns, you can use these details to inform your efforts and allow you to harness the full power of OTT.
Advertise on the Platforms Your Audience Uses
With so many OTT platforms available for such a wide range of audiences, you need to pinpoint the ones your target audience uses, along with the specific programs they watch. OTT provides demographic data that makes it easy to make adjustments if something isn't working.
Keep in mind that you have extensive options to reach audiences on podcast advertising that you wouldn't have otherwise. Podcasts cover nearly every topic and subtopic imaginable, many of which have loyal and highly engaged audiences. You can also choose between pre-recorded ads and in-person endorsements from podcast hosts, depending on your goals. The options around podcast advertising make this channel one of the most vital for advertisers today.
Use OTT Advertising Strategies to Establish a Stronger Connection
By using a solid OTT advertising strategy, you can reach the right target audiences more effectively. Simultaneously, you can connect with others who may not be easy to get on other platforms. By advertising on video and audio streaming platforms with effective OTT ads, you'll be able to maximize your reach. Additionally, you'll have the chance to appeal to audiences' specific interests through what they watch and listen to on a regular basis.