How OTT platforms are empowering digital marketers

Entertainment, entertainment, entertainment and that too on-demand! It’s time for on-demand content to take over as more and more consumers are finding access to personalised content on their hand-held devices. 

On-demand content is the new in-demand. On-demand Video content has gained popularity among the masses, and OTT platforms are going over-the-top with their increasing adoption in India. Last year, we saw a spike in the number of people streaming movies and series on OTT platforms. Today, OTT apps have built a hefty user base of more than 300 million users. 

During the COVID-19 crisis, we saw an increasing acceptance of the OTT platforms throughout the country. As cinema halls were shut down, the cinema industry across the globe decided to release movies digitally and make new content available for the users. 

The rising demand for content on OTT platforms calls digital marketers to deploy digital advertising strategies. However, some of the OTT platforms work on a subscription-based model and users pay to enjoy ad or interruption-free content. Most young and adult users prefer watching shows on streaming apps, given the freedom to choose the type of content to watch without any breaks or interference. 

Viewership through the internet has seen a surge since the introduction of OTT apps and hence, these platforms create an opportunity for digital marketers and brands to reach the right set of audience. Digital marketing strategies evolve every second as personalisation becomes the need of the hour. Owing to the OTT platforms, it’s becoming easier than ever to find the right audience using demographic and ethnographic insights and target with personalized content. OTT platforms empower digital marketing by underlining which ads should be shown to whom.

As the OTT wave continues to take the market by storm, digital marketing lays out the future plan for the OTT platforms. Digital media consumption is on the rise and OTT platforms are adopting a hit and trial method to make the video streaming experience even more seamless. 

Some of the crucial elements of Indian OTT platforms are content, content curators, digital platforms and last but not least consumers themselves.  

Content strategy is at the heart of it all: OTT platforms in India have made a huge place in the digital market by offering personalized content and giving complete control to people. OTT platforms are giving more prominence to content that appeals to a majority of consumers rather than creating niche content. The secret to getting views is content that’s original. Creators are also actively shifting focus towards regional content to target region-specific audiences. 

Branding: In this era of digital, it is important for every business to have its own unique online presence. Thus, it is crucial for OTT platforms to gain an advantage by staying active on social media platforms like Instagram, Twitter and Facebook to keep consumers updated with what’s trending. Lately, a number of OTT platforms have partnered with telecom providers to come up with attractive offers, which has helped OTT platforms in improving their customer base.

Monetization: OTT platforms need to rethink their strategy to target a wider audience. Your monetization approach could be freemium, membership-based, commercial based or substance-based. Digital advertising spends have left television advertising spends far behind and make for more than 37% of the total advertising spends across the world. As more and more data consumption takes place on smartphones, mobile advertising spend is estimated to go beyond the mark of Rs 132 billion in 2021 in contrast to only Rs 16.9 billion in 2016. Marketers primarily rely on social media platforms, websites to target and engage the audience. Ads that are displayed on social media platforms like Twitter and Facebook contribute up to 28% of the global digital ad spends and it is only increasing. It is critical to lay out a strategy that aligns with the digital vision of your brand to design the right business plan.

The digital infrastructure is ever-evolving, with dipping data costs, the digital way of content consumption will become commonplace. OTT platforms like Netflix, Amazon Prime Video, Apple TV+, etc, are certainly bringing a boom in the Indian digital landscape. Viewers have the freedom to select from a wide range of content across platforms on demand. OTT platforms are making both films and television content available for consumption to target different audiences. With a wide range of digital content offered by OTT platforms, what remains of prime importance is meeting the expectations of the audience in terms of ensuring quality content, and tracking what the audience prefers more.

The article is authored by Sahil Chopra, Founder & CEO- iCubesWire