Americans spend an average of 3.1 hours per day watching television, according to results from the latest American Time Use Survey by the U.S. Bureau of Labor Statistics. Many of us can recall a time when the act of watching TV was a very structured process. When you wanted to catch your favorite show, you had to be home at the exact time that it aired, or it was gone forever. While television is here to stay, how we access it is rapidly changing.
Today, over-the-top (OTT) streaming platforms like Hulu, Peacock, YouTube TV, HGTV and many others are all the rage. OTT programming encompasses all content streamed over the internet versus traditional satellite or cable TV providers. This content can be viewed on any device that connects to the internet, such as smart TVs, gaming consoles, computers, laptops, and smartphones.
With streaming services becoming standard, OTT advertising is exploding in popularity and overtaking traditional cable and satellite TV marketing. This type of digital marketing for small businesses allows advertisers to buy 15- and 30-second ad spaces on streaming video services, reaching consumers as they actively view video content on connected devices.
By 2024, streaming platforms are estimated to have 210 million subscribers. OTT advertising allows brands to market to these subscribers whenever and wherever they choose to stream. This gives advertisers the ability to make direct connections with their audience without planning around broadcasting schedules.
Keep reading to learn more about how adding OTT advertising to your strategic marketing plan can help grow your small business.
Easily identify and reach your target audience
OTT advertising provides a higher degree of targeting when compared to traditional TV. Where traditional TV advertising would have to rely on assumptions about consumers, OTT advertising can be targeted to a very specific audience. By tapping into users’ browsing habits, this digital marketing service allows advertisers to take advantage of a variety of factors, including:
- Age
- Gender
- Interests
- Location
- Household income
- Purchase history
As a result, with OTT advertising, you can reach more of your ideal customers on popular streaming platforms with millions of active users.
In addition to identifying your target audience, OTT advertising allows you to determine exactly when users see your ad, as well as which devices they use. Implementing this type of targeted marketing strategy can eliminate budget waste and build relevance around your brand.
Personalized content leads to increased engagement
Creating ads that resonate with your audience is the key to encouraging them to engage with your brand. Because OTT advertising helps you reach more of your target audience, you can create commercials tailored specifically to them.
When creating your ads, be sure to keep your targeted buyer personas in mind. Think about your ideal customer, what they’re interested in, and what kind of pain points and needs they may have. Investing time into tracking and analyzing the people engaging with your brand online can boost your visibility and lead to more sales.
Track results to improve ad campaigns
OTT advertising gives brands access to the data they need to measure the performance of their campaigns in real-time. With traditional TV commercials, the most feedback you’ll get is viewer location and whether the screen stays on. But with OTT advertising, you can collect performance data such as:
Total views – The number of viewers that watched any part of the advertisement.
Video completion rate – The percentage of viewers that watched the entire advertisement.
Attribution tracking – Product-based actions taken by consumers following the ad (such as click-through rates, internet searches after viewing the ad, etc.)
Demographic responses – How different ages, ethnicities, and other demographics responded to the advertisement.
Insights gained from tracking OTT advertising performance are helpful for optimizing future ads and earning a higher return on investment.
The takeaway
OTT streaming services are a rapidly-growing industry as people continue to stray from traditional cable and satellite TV.
OTT advertising offers brands an opportunity to reach highly targeted audiences on platforms they are already using. With this type of digital marketing service, you can connect with consumers who are actively interested in your products or services.
To take your brand to the next level, consider partnering with a digital marketing company to incorporate OTT advertising into your strategic marketing plan.
Hyport Digital offers comprehensive OTT advertising packages that allow you to target your desired audience and help grow your business.
When paired with other digital marketing services such as mobile and display advertising, SEO and SEM, email marketing, and paid social advertising, OTT advertising can help you reach more customers, boost online visibility, and convert leads into sales.
With a reliable digital marketing agency by your side, you can implement an effective and profitable strategic marketing plan for your brand.
Reach out to our team today to learn more about how our digital marketing services can benefit your business!
