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What’s OTT Advertising and How Will It Help Your Business?
Advertising in the Digital Age can seem like a fool’s game. You’re bombarded with options, from Google ads in the search engine results to paid ads in Facebook feeds.
Global online ad spend is up by 4.7 percent in 2019. More businesses are advertising online. But businesses are also spending more to advertise.
That’s a lot of competition – and a lot of clutter to cut through. The only real way to see success can be to look outside what everyone else is doing.
You may have stumbled across OTT advertising and wondered if it can help your business. Sound familiar?
Read on to learn more.
What is OTT Advertising?
OTT (over the top) refers to devices that stream digital content to other devices like TVs. Think games consoles, smartphones, streaming boxes, HDMI sticks, or smart TVs.
OTT advertising works a little like traditional TV advertising, just on a different platform. But there are differences, as we’ll explore. These differences also add up to strong benefits to OTT advertising.
You’ll find OTT advertising on free-to-watch platforms. Hulu is expected to earn $2.7 billion in ad revenue in 2021. Introducing ads lets the platforms keep the content free for viewers.
But you won’t find the ads on services like Netflix that charge a subscription fee. Part of the reason customers pay the fee is to avoid ads. That may change in the future but that’s the case at the time of writing.
Click here for more specific details about OTT advertising.
Why Should You Use OTT Advertising?
The growth of streaming media means a decline in TV viewing. There was a 3.8 percent drop in traditional pay-TV viewing in 2018.
Meanwhile, the growing number of streaming service subscribers is expected to reach 193.2 million in 2021.
On traditional TV networks, you can only choose the channel and the time slot for your ad to air. You just have to hope your demographic is watching.
On OTT services, your business can target topics, demographics, and geographic areas. It’s more like social media advertising but on the TV.
By reaching the right audience, you’re more likely to see a return on the investment in your ad.
Many platforms also offer analytics so you can analyze how well the advert did. You’ll know who watched the ad and when. The data even tells you what device they used.
Even smaller businesses can budget for an ad by buying specific numbers of impressions.
Because viewers are still used to TV commercials, the format is more acceptable. No annoying pop-ups, ads that stop them watching a video, or ads that autoplay when they land on a webpage.
Get Smart with your Advertising
People consume media in new and different ways. So businesses need to advertise in new and different ways. OTT advertising offers one such route.
You can use similar targeting options that you enjoy on social media. But you’re reaching an audience not yet numb to advertising on that platform.
With a high-quality, creative advert, you can offer a great marketing experience to your customer.
Why not check out the money and finance articles for more business tips?