It is the subtleties of over-the-top (OTT) advertising strategies that make the difference between conversions and lack thereof. Move forward without a cohesive strategy and the money you spend on OTT advertising will produce little-to-no benefit to your bottom line. Even failing to modify your current OTT advertising strategy in response to advertising performance will waste your limited advertising dollars, time and effort.
TV-watching statistics change as time progresses, meaning your business must do the same. Here’s a quick look at half a dozen OTT advertising strategies that will boost your conversions.
1. FOMO Advertising has Never Been More Effective.
Advertising through video delivered by the web is a highly effective means of connecting with a target audience, especially if it shines the spotlight on an opportunity that the target audience has a fear of missing out on. In case you didn’t know, FOMO is an acronym that became popular this past decade. The letters FOMO are short for fear of missing out. FOMO has become an important part of the public lexicon, especially during the coronavirus pandemic.
Whether your business sells a service or product, it has a value that improves the quality of life or work. Highlight such value with a focus on what the target would miss out on without making a purchase and it will inspire him or her to consider taking action. Even if your value offering isn’t significantly better than that of competing companies, stressing FOMO by focusing on the potential to miss out on a sale, discount or other opportunities available for a limited time will help convert targets into customers.
2. Compel the Audience to Take Action.
OTT advertising that abruptly ends without a clear and compelling call to action is one that will fail to maximize conversions. Incorporate an artful directive at the end of the ad that convinces the audience to take action and you’ll steer the audience toward the intended aim.
Examples of such desired actions include:
- A phone call to learn more about the product/service
- Online chat conversation
- In-person visit to the business
- Website visit
However, an overt call to action will alienate the audience. Deliver a somewhat subtle and eloquent prompt to action with persuasive language that highlights how the product/service benefits the customer and will produce the intended result.
3. Maximize Exposure.
Delivering your OTT advertising to the target audience through one medium is not enough. Maximize the extent of your reach through extensive OTT advertising across a litany of online streaming services, casting a wide net for extensive exposure. OTT service providers present invaluable opportunities to stream video content across a litany of platforms spanning a multitude of devices:
- Smartphones
- Connected TVs
- Laptops
- Desktops
- Video game consoles
Internet video streams are nearly ubiquitous in the modern era. Businesses that take advantage of the full extent of OTT advertising channels will reap the rewards.
4. Gradually Narrow the Focus.
An initial OTT advertising plunge that spreads the word about the merits of your product/service to those who use video streaming for content casts a wide net. However, continuing to cast as wide a net as possible across posterity has the potential to backfire.
Gradually narrow the scope of your OTT advertising to the OTT video streaming services your target audience is most likely to use, deliver ads tailored to those specific buyer personas and you’ll maximize the efficiency of your OTT advertising budget.
5. Flexibility is Key.
Be flexible, continue to pivot following OTT industry disruptors and your OTT advertising dollars will make maximum impact. The pandemic, tech innovation and demographic shifts have caused widespread industry disruption. Business owners, managers and advertisers willing to recognize the dynamic component of OTT are that much more likely to thrive as an uncertain future takes shape.
Remain dexterous in the context of OTT ads, shift your advertising dollars and ads to new OTT marketing platforms as they emerge and you’ll maximize the efficiency of your ad campaigns.
6. Diversify Your Advertising Campaigns.
The OTT industry is incredibly dynamic, changing with each passing day. What’s hot today might not be en vogue tomorrow. Consumer attitudes, OTT pricing changes and the industry’s evolution are anything but static. Recognize that your target audience will gradually shift from one OTT platform to the next, keep your finger on the pulse of the audience and respond accordingly.
Continue to create fresh advertising content and artfully communicate your value offering across OTT channels to remain in lockstep with your audience’s progression from one video streaming service to the next.
