OTT Video Advertising: Your Key To Success This 2023
Advertising has never been more challenging and more affordable than it is today. You can find many advertising strategies to help you succeed, whether you own a company with a small budget and a focus on getting your customers the best value from their purchases. Also, even if you’re interested in launching a new television network, you can still find strategies to help your brand. Advertising has evolved quite a lot in recent years, especially with the rise of television — now commonly referred to as “over-the-top” or OTT video advertising.
Conventional advertising focuses on the targeted audience watching television while the advertisement is shown. On the other hand, OTT uses specific applications and switches between them. Therefore, OTT has become a popular channel for advertisers to target audiences.
What is OTT Advertising?
OTT video advertising refers to delivering video ads through internet streaming services such as Netflix, Hulu, and YouTube. This type of advertising allows businesses to reach a larger and more diverse audience. A diverse audience is cutting the cord and opting for streaming services instead of traditional cable and satellite TV. Additionally, OTT video advertising allows for more targeted and measurable advertising campaigns.
There are several types of OTT video advertising, including:
- Pre-roll ads – These play before the main video content begins. They are similar to traditional television commercials.
- Mid-roll ads – Plays during the main video content, similar to commercials during a television show.
- Post-roll ads – These are ads that play after the main video content has ended.
- Bumper ads – Short, non-skippable ads typically run 6-15 seconds before the main video content.
- Product placement – This is a form of advertising in which a brand’s product is integrated into the main video content rather than presenting it as a standalone ad.
- Sponsored content – This type of advertising is becoming more popular. It refers to the use of branded video content that’s made to look similar to the main video content, but it is created and/or distributed by the brand.
Another important aspect of OTT platforms is that they typically collect user data. Also, this can target ads to specific audience segments, such as demographics, interests, and behavior. Advertisers can also track the number of people who saw the ads, how long they watched them, and whether they took action after viewing them. This makes it easy to measure the campaign’s performance.
Overall, OTT video advertising provides a unique opportunity for businesses. This will give businesses an advantage to reach a larger and more diverse audience. Also, they can target specific segments of that audience. Lastly, they can track the success of their advertising campaigns cost-effectively while building their brand and creating an emotional connection with their target audiences.
Importance of OTT Video Advertising for business
OTT video advertising is becoming increasingly important for businesses for several reasons. Here are a few key benefits of OTT video advertising:
- Reaching a wider audience.
As more and more people are cutting the cord and opting for streaming services instead of traditional cable or satellite TV, OTT video advertising allows businesses to reach a wider audience that traditional television advertising may not reach through traditional television advertising.
- Targeted advertising
OTT video advertising platforms typically collect a large amount of data on their users. The data can target ads to specific audience segments, such as demographics, interests, or behavior. This can lead to a higher return on investment (ROI) for businesses.
- Measurable
OTT video advertising allows for a more measurable advertising campaign. It can track the number of people who saw the ads and how long they watched. Also, it can be measured whenever they take action after viewing the ad.
- Cost-effective
OTT video advertising can be more cost-effective than traditional television advertising. Advertisers can pay for ads on a cost-per-thousand-impressions (CPM) or cost-per-view (CPV) basis, which can be more affordable than a traditional TV ad spot.
- Brand building
Video is considered the most engaging form of media. By using OTT video ads, businesses can build their brand by creating an emotional connection with their audiences. It can have a great impact on brand awareness and recall.
Conclusion
OTT video advertising can be a valuable tool for businesses looking to reach a wider audience and target specific segments of that audience. Also, it can track the success of their advertising campaigns. They can be cost-effective. It is because it helps businesses build their brand. Moreover, it can be more impactful in creating an emotional connection with their target audiences.
Although this type of advertising has been around for many years, you must remember that this is old and new tech. The OTT industry is developing new strategies so that you could be advertising with OTT in a few years. So, you must learn this new advertising strategy to ensure you are ahead of the game this 2023.
