Since lockdown, there has been 75% increase in OTT platforms’ subscriptions (in India). A large number of viewers have shifted from traditional media to over-the-top. Good quality and large volumes of content has made it easy for these platforms to retain their audience. Growing popularity of OTT comes as an opportunity for advertisers and marketers to reach their targeted audience.
Every OTT user is provided with a unique ID (the type of ID can differ from one platform to another). Keeping in mind the privacy and other safety measures of the user, this ID can be provided to advertisers to help them get insights into a user’s preference. This will allow them to customise ads for a specific area, gender, age or any other group.
In traditional television advertising the ad is made for larger audience and it is difficult to target a specific group whereas if OTT is used, relevant ads can be created for quality reach and better engagement. This in turn can lead to a higher return on investment.
It is also cheaper than TV or newspaper advertising making OTT cost effective. Since these platforms can be accessed from various devices, it increases the amount of time an individual spends watching different content. This can give your ad more exposure.
The advertiser and marketer can have greater control over their advertisement. They can stop and change their ad to increase the relevance without any major monetary loss. OTT service providers will also help the advertising agencies with data analysis which will help in tailoring advertisement to meet the targeted audience.
Advertising on streaming platforms is the newly emerging and highly recommended form of advertising. If used properly, it can do wonders! Keeping aside a specific amount for OTT advertising while formulating a strategy will be considered as a good start!
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