Customer Retention Rate: What Is It & How to Calculate
by Cat Hausler
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Brands across the globe are quickly realizing the impressive value of over-the-top (OTT) advertising. The OTT ad market is projected to experience a compound annual growth rate (CAGR) of 6.3% between 2024 and 2029, making for a market valued at over $429 billion.
That’s a lot of cash floating around the OTT advertising sector, which means brands face stiff competition for sought-after ad slots. The good news is, you can maintain marketing efficiency while keeping your audience engaged by using a proven OTT advertising strategy.
With that in mind, below is a close look at eight OTT marketing strategies you should consider leveraging.
OTT advertising involves delivering digital advertising content directly to viewers via streaming services, effectively going “over the top” of satellite or cable TV options. You can display your content on any internet-connected device, including:
OTT advertising has become one of the most efficient ways to reach engaged audiences, providing marketers with the ability to target viewers with far more precision than traditional TV ads.
Additionally, OTT platforms use data to deliver content to specific audiences based on their demographics, viewing habits, and interests. As such, a great OTT marketing strategy can ensure your message lands in front of the ideal audience at the right time.
OTT and Connected TV (CTV) are often used interchangeably, but they refer to different aspects of digital streaming.
OTT refers to the way you deliver content, whereas CTV refers to the device used to access OTT content — specifically smart TVs, but also streaming devices like Amazon Fire TV Sticks, Apple TVs, even tablets. Therefore, when someone says “CTV advertising,” they’re usually referring to OTT ad delivery to TV screens.
Now, let’s discuss eight OTT marketing strategies that will help you make every marketing dollar count.
Most people don’t just stick to one device. They might start watching a show on their smart TV and then finish the content on their smartphone while lying down before bed.
If you want to effectively nurture prospective customers and provide a consistent experience, you need to engage in cross-device targeting, which allows your streaming ads to follow a user as they jump from device to device. The result is a consistent and seamless experience.
For example, your ad might first appear on someone’s smart TV while they’re flipping channels. Later, when they’re on their phone, a complementary ad that showcases specific app features could push them a little further into the sales funnel. The result is a cohesive journey that spans multiple mediums.
You can’t afford to guess when building your OTT marketing strategy — there’s simply too much time, money, and resources riding on the outcome of your campaign. Artificial intelligence (AI) can take the guesswork out of digital advertising and help you understand who to target. AI tools can also reveal how to engage with them for maximum impact, but they can also automatically adjust targeting parameters or content delivery to drive better results if the content isn’t performing as expected.
Interactive ads can take your OTT advertising strategy to the next level by engaging viewers directly. You can include clickable overlays that let users choose which product to learn more about or integrate in-ad polls to gather valuable feedback from consumers. Shoppable ads are becoming especially popular, as they allow viewers to jump right into your product lineup and initiate the purchasing process from their device.
Interactive ads work well on OTT platforms because users are already used to engaging with digital content on their smartphones, tablets, and smart TVs. You’re merely tapping into that habit when you run interactive ad content.
Data management platforms (DMPs) allow you to gather and analyze data about your audience to create highly targeted OTT campaigns. After you’re done sifting through all of that information, you can segment your audience into different niches based on their interests and preferences.
DMPs also help you adapt as audience behaviors shift. If a sudden trend emerges — such as an increased interest in winter clothing — you can adjust the campaign focus in real time to capitalize on the trend.
Personalization is no longer just a “nice to have” feature. An impressive 71% of today’s consumers expect you to personalize your ad content and speak directly to their interests and needs. Furthermore, 76% of the people who anticipate such personalized ads will get frustrated if you fail to speak to their unique interests and preferences.
OTT advertising allows you to personalize content based on a viewer’s past behaviors, demographic data, and viewing habits. Say, for instance, that a viewer has previously shown interest in outdoor products. You can deliver an ad that highlights relevant offerings.
OTT advertising allows you to personalize content based on a viewer’s past behaviors, demographic data, and viewing habits. Say, for instance, that a viewer has previously shown interest in outdoor products. You can deliver an ad that highlights relevant offerings.
Of course, you aren’t limited to behavior-based personalization. You can also personalize ads based on location, drawing more traffic to brick-and-mortar shops or targeting an unpenetrated customer base.
Before you pour a wealth of resources into an ad campaign, you need to ensure that your content will resonate with consumers. A/B testing plays a key role in determining which version of a particular ad performs best with different audiences. During each round of testing, you can evaluate how variations in things such as the headline, call-to-action, or creativity impact the consumer experience.
For example, you might test a pair of visually identical commercials but just change the background music. A/B testing allows you to identify which combination of visuals and music results in better audience engagement. Make sure you only change one variable at a time so you can better identify what brings about a certain result.
Sequential messaging is a storytelling technique that delivers a series of ads in a specific order. The method can be far more engaging than repeatedly bombarding a customer with the same ad. You can build a narrative over several touchpoints that guide viewers through the decision-making funnel.
For example, your first ad might introduce your brand. The second could highlight your flagship product and the benefits it provides. And by ad number three, when the customer is primed to make a purchase, you can give them that last little nudge by offering a promotional discount.
It’s not enough to simply deliver your ads. You need to ensure that your audience is actually seeing them. Viewability metrics measure whether a user actually viewed an ad. If your ads aren’t being watched, they aren’t effective.
MNTN Performance TV simplifies OTT advertising by bringing powerful tools and strategies together in one intuitive platform. With features like cross-device targeting, AI-driven insights, and advanced audience segmentation, Performance TV helps you build campaigns that connect more effectively with your audience.
For example, MNTN Matched uses consumer data to identify recent life events, interests, and shopping behaviors, allowing you to anticipate what your audience will want next and deliver perfectly timed messaging tailored to their needs. MNTN’s advanced targeting capabilities allow you to deliver relevant ads at scale.
MNTN’s Verified Visits™ technology also provides robust viewability tracking. You can measure metrics like completion rates, click-through rates, and overall engagement, all of which will help you understand how your ads are performing and where adjustments are needed to improve viewability.
Discover how MNTN can elevate your OTT marketing strategy. Schedule a demo to get started.
OTT marketing has become an invaluable tool for your brand’s growth journey. The best practices outlined above will enable you to create a data-driven, impactful strategy that delivers measurable success, connecting with consumers and mobilizing them to action.
However, the success of your OTT advertising strategy hinges on the quality of your marketing platform. MNTN Performance TV offers all of the tools you need to execute these strategies seamlessly.