After covid 19, the OTT industry went through many changes, including the adoption of digital and hybrid business models. As a marketer, you have to keep up with changes in the industry. This blog list the best practices for running an OTT platform in 2022 to keep up with advancement in the OTT industry.
1. Start creating mobile-friendly content.
The most important best practice is to create mobile-friendly content. More than 60% of marketers say creating mobile-friendly content is an effective investment. Users spend more time watching videos on mobile when compared to other devices. It is noted that more than 50 % of annual traffic comes from mobile. At present, more users spend time on mobile it is necessary to provide a mobile digital experience to connect with the audience
2. Multiple platform support
Video creators need to create and deliver high-quality content and a better user experience across multiple devices and platforms. With multiple platform support, video content reaches the audience worldwide. Today users view content on mobile, tablets, and smart TVs making it necessary for video creators to sketch out multi-platform content delivery strategies to deliver OTT content. It will lead to more user engagement and builds trust. Video content can be watched on any device, thereby delivering a better video experience to all users.
3. Choosing the correct monetization model
The next essential best OTT practice is to choose the correct monetization model. Today many users are very confused with the various monetization models available. At present, it is noted that 30 percent of users prefer the Advertisement-based model, whereas 23 percent of users prefer the Subscription-based model. Users who have less money and more time prefer to choose an ad-based model over a subscription model. In this case, Ad based model can be used as a powerful tool for customer acquisition.
Viewers interested in watching quality video content without interruption by ads prefer to choose the subscription-based model. If you have a video content library filled with quality and engaging content, then SVOD will be a better monetization model as it generates steady income for content owners. In SVOD, you have to spend some money for acquiring customers and customer retention by offering free trials and coupon codes. If you have a lesser audience base, then it is better to go for AVOD model to attract more users to your OTT platform, and after some period of time, you can shift to SVOD model.
4. Start trying influencer marketing.
In the past year, more businesses have benefited from trying influencer marketing, and in the following year, this trend is likely to grow further. Influencer marketing has become the common marketing practice in OTT marketing strategy. When businesses join hands with influencers, they increase brand awareness and attract a huge fan base to the platform from influencer’s audiences.
More businesses cant join up with high-grade celebrity influencers, and in turn, they join hands with small influencers who have a small follower base. This type of influencer marketing is also likely to bring more engagement as the audience trusts their opinions and recommendations.
5. Conduct A/B testing
Marketers need to deploy A/B testing to provide a better user experience for the users. The process includes testing out different UI elements like layout, themes, font and menu options, etc. It is better to look at the analytics reports to understand user behavior better and make changes accordingly to deliver a better user experience to viewers.
6. Providing high-quality video streaming
Your goal should not only simply be to offer powerful and engaging video experiences across all platforms. The main objective is to acquire, engage and minimize customer churn, and it all begins with providing high-quality video streaming.
A recent study confirmed the video playback experience. It is noted that users will stop watching the video when users encounter slow load time, buffering, lower video quality, and playback errors. It shows that viewers have a lower tolerance for poor video experiences, which often leads to users leaving the OTT platform. So to avoid this, it is better to collaborate with well-established video streaming platform providers that offer seamless video streaming experiences to users.
Conclusion
In order to meet up with the expectation of present users on consuming video content on different devices. It is always a wise move to choose an OTT platform provider that delivers video content across different devices and platforms, allowing you to reach your audience worldwide.
