For businesses that want to maximize their reach and connect with audiences who aren't on other platforms, over-the-top (OTT) advertising is key. So, what is OTT, exactly? OTT advertising and marketing entails using over-the-top streaming services and connected TVs (CTVs), playing much like TV commercials. Although TV ads are still important and aren't going anywhere, advertising on OTT platforms can supplement these efforts.
You might also wonder what the difference is between OTT vs. CTV advertising. OTT refers to the streaming platforms people use to view or listen to content, including Hulu, Netflix, Spotify, and podcasts. Meanwhile, CTVs include smart TVs and other devices like Rokus, Apple TVs, and gaming consoles that play these OTT services. Regardless of the platforms you choose, implementing an OTT advertising strategy can connect you with cord-cutters.
Recent OTT advertising trends have shown that OTT will only become increasingly popular over the years. This year alone, 42% of American agencies and marketing professionals were expected to spend more on OTT ads.
To give you an idea of the benefits of OTT advertising for your business, the following are some specific advantages you can see with these strategies.
1. Reach Audiences Through Many Types of Content
Although many TV channels today offer plenty of great advertising opportunities, there are more streaming platforms to choose from. Some of the best OTT advertising platforms have various media, including shows, movies, and music across a nearly unlimited range of genres. Regardless of the topic, there's likely a streaming service for it.
Keep in mind that many services offer free versions if users opt not to pay for ad-free premium services. While paid subscriptions comprise 65% of home TV screen viewing, free streaming still makes up 30%. As a result, you have the chance to reach millions of viewers with OTT ads.
2. Have Control Over Campaigns
Using OTT advertising, you'll also gain more control over advertising campaigns. You can easily and instantly pause or restart ads, whereas you would need to wait for ads to run and schedule new ones using traditional TV. This allows for optimum flexibility if you need to make any changes. For instance, you might discover that an OTT ad resonates with another segment of your audience than you thought it would, inspiring you to launch the ad on another platform.
3. Connect With a More Engaged Audience
Traditional TV viewing tends to be more passive than OTT services, which largely relates to the length of ad breaks and their content. Unlike TV commercial breaks, OTT ad usually breaks consist of two to three ads at most, each of which might last for around 30 seconds to a minute. Because of this, viewers are less likely to distract themselves and engage in other activities until the ads finish, keeping them engaged.
OTT ads also tend to connect to the content displayed on streaming platforms, ensuring they're relevant to the audience's interests. If audiences are particularly invested in your ads, they may even begin looking up your brand on mobile devices while watching.
4. Hyper-Target Your Audiences
Brands need to ensure their ads appear in front of the right audiences at the right time. With the help of highly targeted OTT ads, you'll be able to connect with audiences based on several demographics, including age, gender, location, viewing habits, and more. Additionally, ads only play when people are actively streaming, which means you don't have to hope that enough viewers tune in at specific times when ads run.
In turn, you'll likely see a lower OTT advertising cost compared to less targeted campaigns. You'll also be able to collect data that gives you in-depth insights into your audience to help optimize your ads for future campaigns.
5. Track and Monitor Campaigns in Real-Time
With the help of actionable insights and real-time tracking of OTT advertising analytics, your business will benefit from increased agility when gauging success. Using analytics platforms, you can track a wide variety of metrics, including impressions, views, clicks, and more, to help you measure performance. You can then make more informed decisions as you work to optimize campaigns for improved performance.
Get the Best Results from OTT Campaigns With a Media Partner
Consider connecting with a media partner if you want to get the best possible results from OTT advertising campaigns. A partner like Gray Massachusetts can fully equip your campaigns and help ensure their success. With our help, you'll be able to more easily define success using in-depth analytics, hyper-target your audience, and get better overall results from your marketing strategy.
In addition, you can supplement these efforts with linear TV ads, digital marketing, and other campaigns to maximize your reach. While people may be making the transition to OTT, TV is still here to stay, which is why a combination of OTT and TV ads is ideal. With the right media partner by your side, you'll be able to reap the rewards of a strong OTT campaign.
