Let’s face it, we all know someone who has canceled their cable plan and opted for one or more streaming services like Netflix. That’s probably because there’s about 39.3 million cutting the cord in 2019 alone (Tech Jury). With more and more people choosing alternatives to traditional video platforms, new marketing opportunities have come about. So what does this look like, and why is it important to get in now? Let’s explore.
OTT stands for over-the-top. Put simply, it’s content that is available “over-the-top” of other content. TV providers like Comcast and DirecTV are considered to be traditional TV outlets. OTT offers viewers the same or similar programming options without having to subscribe to one of these traditional providers.
Sources like Hulu, HBO Go, and YouTube are some of the most popular platforms people are now using to view their programs. OTT is rising in popularity across the board, but is proving to be most popular among millennials. My high schoolers watch content on YouTube every day, so I see it first-hand.
Just like there are many video sources, there are just as many streaming devices. Computers, smart TVs, gaming consoles, smartphones, tablets, smart set-top boxes and almost any other device that connects to the internet offer instant access to OTT programs both at home and on-the-go.
One of the main advantages of advertising with OTT is the ability to hyper-target audiences. Like other digital ads, OTT ads can be targeted by address, Zip code, income, age, gender, ethnicity, etc. Hyper-targeting uses very specific information learned from the viewer to decide who is most likely to respond to specific ads.
For example, a home furniture store could display ads specifically to audiences watching a home makeover program. Advertisers can choose certain channels or programs to target on standard TV as well, but with OTT hyper-targeting you get the added benefit of knowing that a viewer specifically selected that program, and therefore likely has an interest in your product or service, as opposed to landing on it while browsing. OTT platforms then take it a step further and remember the types of programs people tend to watch so they can recommend other things you might like. Going after customers most likely to act generates results.
We are a society that enjoys instant gratification. Being able to watch the content on demand on our devices is not a trend that will fade, so OTT is here to stay. According to Nielsen, cord-cutting has increased by 48% over the past eight years, so millions of people are leaning on streaming services as their main form of content consumption.
Unfortunately, people are being forced to spend more time at home due to COVID-19. This means people are spending more time in front of TV screens as a result. OTT makes it possible for you to grab their attention while they’re sitting safely and comfortably on the couch.
Call us at 904-330-0904 to book a 15-minute appointment with our Multimedia Specialist Joy Bell to learn how OTT can help you reach your audience today!