OTT and CTV Marketing: 6 perks your business can't afford to miss!
Almost all of us have seen online video advertisements, as streaming and TV media consumption has become increasingly more common. Statistics show that video ads are a three times more effective method than still image ads, with people being able to fully focus on the ad and understand its message in the given timeframe. This trend is projected to continue and has largely been influenced by Over-the-top (OTT) or Cable Television (CTV).
If you've ever wondered what's the difference between over-the-top (OTT) and cable television (CTV), how video advertising differs from other types of ads, or what kind of marketing tools are available to businesses that utilize online video content, you don't need to look further. In fact, as OTT and CTV are often used interchangeably, here is a short explanation:
The OTT is defined as over the top it is a method through which video content is delivered. It delivers high-quality content on any device such as mobiles, laptops, tablets, gaming consoles, desktops, and even smart TVs. In simple words, it delivers the content through the internet. The other term CTV is connected TV. It is the device on which viewers watch the videos and it can be any device such as a mobile phone, laptop, gaming console, or smart TV. While OTT delivers the content to viewers CTV is that device on which it views all of them.
Not sure if they're right for you? Here are six reasons why your business can't afford to miss the wave.
Reach More of Your Target Audience - There are many benefits of using video marketing and this is one of those. Have you ever wondered, Why do some businesses already reach their target audience and you don't? Or what kind of marketing tools they have used? Well, here’s the key. With SW digital advanced OTT/CTV offering, it reaches consumers by streaming content on both the big screen in the living room and small screens with household-level precision, unmatched audience targeting, and advanced attribution for online or offline conversions. The SW digital OTT/CTV offers a solution that utilizes GPS data to serve ads to individual households based on first-party address lists, custom curated addressable audiences or behavioral data. Meaning marketers will have an insight into their audience based on data collected like their characteristics including demographic information (gender, age, income, etc.), geographic location, and interests. In other words — better targeting!
OTT/CTV Marketing is cost-effective - It’s a bit intimidating when we hear the word video advertising for it seems like it will cost you a fortune. But in reality, it is a budget-friendly advertisement! Why? Unlike other digital marketing, you’re not mandated to pay for their fixed amount. For you can set your own budget and only pay for what you need. So, if you’re a beginner in advertising or want to test out the waters, you don’t have to go all-in. Start small and once you find it works then continue using this marketing tool. This is also good for seasonal businesses that need more exposure during certain times of the year. Moreover, you can rest assured that every dollar you’re going to spend on these advertisements is worth it! Since it reaches those potential customers who actually have an interest in your product or service. For those who are looking for affordable yet effective advertising which will deliver their messages and boost brand awareness, OTT/CTV is definitely worth considering.
Form Stronger Connections - One of the vehicles that drive the business to success is its connection with its customers. Having a marketing tool that will connect you to your audience is the best perk you can get in OTT/CTV Marketing. So, in what way does it help you build a strong connection with your audience? Through this, it allows you to convey your message more creatively and teach your audience about the product or service you are promoting without overwhelming them with too much information at once. Plus, they're more likely to be remembered than text, which means they spark interest and engagement. It appears that OTT/CTV Marketing will help you build trust and loyalty over time, for it shows your sincerity and the benefits of using your product/services offered.
Increase Brand Awareness With Good Content - In business, it’s all about being in front of the consumers to increase your sales. We can’t deny that whenever or whatever we are doing on our social media, smart TV, or any device we can always find an advertisement. And since most businesses are using digital marketing it will be difficult for your brand to cut through the noise. That’s where OTT/CTV marketing comes into place. It helps your business to create unique, informative, and interesting experiences for your target audiences because you’re not limited by time constraints or an ad blocker. This way, the audience will watch your content by choice and will leave a good impression to the point that they will remember your brand vividly and consider it when making purchase decisions.
Viewers can't skip ads. - In a world of fast forward, ad blockers, and Do Not Disturb modes, these have made it difficult for marketers to reach their target audience with a message that resonates, but that's no longer the case with OTT/CTV advertising. Unlike YouTube Advertising, where viewers can simply press the "skip ad" button after a few seconds, ads served over the top of connected devices must be watched before the content is accessed. For instance, If a viewer wants to watch their favorite show or live sports game, they have to watch the ads first. This means viewers will be more likely to pay attention to your ad and remember it even after viewing it.
More control over your message - Every marketer has their way to convey their message, in whichever style, story, and tone. Unlike traditional video advertising, advertisers have-to-no ability to customize their messages for specific audiences, the same as ads that appear on social media or other websites, OTT/CTV ads aren't limited to a single frame or banner. You create an ad that's typically between 15 and 30 seconds in length. This format gives you more freedom to tell your story and showcase your product or service. Plus, since you choose where and when your ad appears, you can reach people who are most likely to be interested in what you have to offer. For example, if your business sells air conditioners, you might consider running OTT ads during the summer months only when people are looking for ways to stay cool.
What are you waiting for? Get started today! If you wait too long, another business may seize the opportunity before you do.