According to Forbes, OTT advertising is expanding at the fastest rate of any major medium. It’s expected to reach $4 billion this year.
Also known as over-the-top advertising, this marketing method can help your company reach an even bigger target audience.
By now, you’re probably asking yourself, “Well, what is OTT advertising?”
With this guide, you’ll learn everything you need to know. Then, you can put this digital marketing strategy to use for your company. Get ready to reach more customers using OTT.
What is OTT Advertising?
Who needs TV when we can stream everything?
OTT advertising allows us to stream digital media content without a traditional TV contract. Instead, you can access movie and television content from mobile devices or a smart TV.
According to this report, 71 percent of Internet users already use an OTT service at least once a month.
As more people ditch cable, it’s important to advertise where your customers are. Without OTT advertising, you’re missing out on potential opportunities.
This strategy allows advertisers to reach consumers even while they’re on the go.
Using OTT advertising, companies have more distribution points to choose from. This includes devices such as streaming sticks (Google Chromecast, Amazon Fire), Smart TVs, and gaming platforms (PS4).
Over-the-Top Advertising Benefits
According to FitSmallBusiness, video content can more than double a company’s website traffic. As more people use streaming services, your company can use OOT advertising to attract viewers to your website.
Not enough? Here are the three main benefits of answering the question “what is OTT advertising doing for my business?”
1. High-Quality Creative Content
As video content reigns among digital advertising strategies, it’s important to use that popularity to your advantage.
OTT focuses on providing subscribers with quality content. You can use this technology to offer your customers in-depth, quality videos. That way, you’re boosting brand awareness and impressing viewers with quality content, too.
2. Strong Targeting
There are different streaming services, devices, and websites available to a worldwide audience. With OTT advertising, you can expand your reach further than you can with traditional marketing methods.
OTT also lets you narrow down that audience. You can select a geographic location, topic, or demographic to focus on.
You can learn more about connected TV (CTV) advertising to improve targeting, too.
That way, you can narrow down wasted ad spend and focus on your ideal customers.
3. Flexible Budgeting
OTT advertising provides analytics down to impressions and view time. Then, you can segment this data based on placement or targeting.
With this data, you can optimize your OTT adverting for the best results.
That also means you can adjust your budgeting as needed. Instead of wasting your ad spend on one segment, you can prioritize the area that’s generating the best data.
You can even minimize expenses by limiting the number of impressions.
That way, you can maximize the efficiency of your ad spend and improve your ROI.
OMG: What is OTT Advertising
Now that we’ve answered the question “what is OTT advertising,” put it to use for your business!
That way, you can attract more customers and cut down on wasted spend.
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