Why are OTT platforms the first choice for content marketers
Technological advancement is at the heart of the way we live and interact.
Over the last few years, content consumption has seen innumerable developments. During the previous three years, OTT (over-the-top) platforms have garnered a lot of attention, changing the way we consume content online wholly.
India’s OTT video market is set to boom at 21.8 percent CAGR from Rs 4,464 crore in 2018 to Rs 1,1976 crore in 2023, estimates a report by PWC.
OTT platforms are gradually taking the lead in the Indian entertainment sector. In another report by KPMG and EROS now, it was predicted that 38 percent of the total people subscribed to OTT platforms are fully satisfied by the content and will happily give up on traditional media content such as TV, etc.
As these trends indicate a rise in the number of viewers from traditional mediums to digital mediums, content marketers have begun leveraging OTT platforms as an indispensable advertising tool.
Several brands and marketers are embracing OTT platforms as a marketing tool and expect to win a hefty advertising budget in 2021. OTT platforms bring the precision targeting programmatic marketing and the charm of television advertising to create the perfect advertising mix.
Internet penetration in India has entirely changed the country’s landscape for the better. In 2021, the internet penetration went up by 45 percent, which resulted in an overall increase of 75 percent viewership in OTT app subscriptions during the lockdown.
In a few months, OTT platforms have come up with better content to attract even more eyes and hook viewers to the platform.
People are becoming used to catching the latest flicks on Netflix, Amazon Prime, Hotstar, and other emerging OTT platforms. Marketers worldwide look at leveraging a more personalised way of advertising to reach their target audience and amplify the Return on Investment via OTT platforms. With the numbers indicating growth of OTT platforms, marketers are gearing up to rely on OTT platforms as a virtual channel.
There are many reasons why content marketers, advertisers, and brands must prioritise OTT platforms for advertising. These include measurement metrics, cost-effectiveness, audience targeting, customer geographical targeting, internet-based targeting, and premium viewership.
From large companies to startups, everyone is welcoming OTT platforms for innovative and data-driven campaigns. With companies emphasising remote working, it is a fruitful time for content marketers to pursue marketing via OTT platforms.
OTT platforms assign each user a different ID for different devices. This ID is utilised by advertisers to accurately target and personalise a user’s experience with relevant ads on OTT platforms.
For example, suppose your company deals in manufacturing sports apparel, targeting a specific age group. In that case, OTT platforms assist you in reaching out to the specified age group who are inclined towards fitness and sports.
OTT platforms allow you to custom target your audience on the grounds of the region, type of content, gender, age browsing patterns, ad preferences, and recommendation, etc.
Better viewership measurement
OTT platforms are often misunderstood not to offer any way of tracking viewability. In reality, there still exists a way for marketers to dig out insights for the viewability of the ads.
OTT platforms have strict regulations in play that prevent third-party apps from running their scripts to ensure nothing comes between a user’s viewing experience in case some error happens.
Content marketers can bypass this by collaborating with publishers to run ads that do not affect a user’s viewing experience.
The larger the audience size, the difficult it is to reach your target audience through ads. This is where OTT platforms enjoy a win by clearly defining their target audience, followed by appealing and relevant ads.
Engagement rates on digital go far beyond the numbers achieved by traditional media in advertising.
Content marketers enjoy the ability to run relevant ads based on the interests of their target group, which gets the ads more views and reach.
OTT advertising allows content marketers to get into the nitty-gritty of the consumer’s persona and come up with content that ensures better engagement.
Over-the-top platforms bring a wide array of content to select from based on the consumer’s interests. For content marketers, relevance is the key to unlock new dimensions of advertising in the world of OTT media.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)