How OTT Advertising Can Help Expand Your Reach and Your Spend In Nigeria
Why is OTT important in marketing?
OTT enables advertisers to re-target their audiences across several platforms. This helps maximize your reach well beyond streaming services, keeping your brand top-of-mind. Then, this can then lead to more interest and recognition for your brand, eventually increasing lead conversions and sales.
Is OTT good for advertising?
Streaming TV advertising on OTT platforms is a great way to reach an audience migrating away from traditional linear television in a more cost-effective manner. Traditional TV advertising requires a large upfront commitment which significantly limits the number of businesses participating.
In a world where consumers are bombarded with ads from all sides, how can you ensure that your ad budget is well spent and reaches the right audience? The answer is OTT advertising.
OTT, or “over-the-top” advertising, is a type of digital marketing that uses streaming platforms to reach consumers. This includes platforms like Roku, Amazon Fire TV, Hulu, and more. And because these platforms are so specific, marketers can target their ads to very specific demographics.
For example, let’s say you’re a car company targeting young adults. You could place your ad on a streaming platform that airs programming aimed at that demographic. Or, if you’re selling health products, you could target ads to streaming platforms that air cooking shows or exercise programs. The beauty of OTT advertising is that you can be very specific in who you target, which means your ad budget will go further.
In this article, we’ll look at OTT advertising in detail and how it can expand your advertising reach and your advertising dollars.
What are the benefits of using OTT advertising?
Outside of being able to target a specific demographic, there are several other benefits of using OTT advertising.
For one, OTT ads are not easily skipped like traditional TV commercials because most OTT platforms do not have an ad-skipping feature. This means viewers are more likely to see your ad from start to finish.
Another benefit of OTT ads is that, like email marketing, they’re very inexpensive. That’s because you’re not paying for airtime on a specific channel or program. Instead, you’re paying for impressions (i.e., how many people see your ad). And because you can target your ad to a specific audience, you’re likely to get more bang for your buck.
Finally, OTT ads are more measurable than traditional TV ads. You can track how many people saw your ad and how long they watched it. You can also track click-through rates and conversions. This data can be very valuable in helping you optimize your ad campaigns and get the most out of your ad budget.
How to get started with OTT advertising
If you’re interested in using OTT advertising to reach your target audience, there are a few things you need to do to get started.
First, you need to identify which streaming platforms your target audience uses to determine where to place your ads. For example, if you’re targeting young adults, you may want to place your ads on Hulu or Amazon Fire TV. Studies show that 77% of young adults primarily watch streaming services instead of cable or satellite.
Once you’ve identified which streaming platforms your target audience uses, you need to create an ad tailored to that platform. This means ensuring your ad format is compatible with the platform and that your ad copy is relevant to the content being streamed. One of the worst things you can do is create a generic ad that’s not relevant to the content or the platform. Many advertisers drop the ball on this one, and it shows in their results.
Finally, you need to track your ad’s performance and ensure you’re getting the desired results. This means tracking things like impressions, click-through rates, and conversions. If you’re unsatisfied with the results, don’t be afraid to modify your ad or targeting. The objective is to discover what works best for your company and budget.
How much should you budget for OTT advertising?
The amount you should budget for OTT advertising will depend on many factors, such as your target audience, ad goals, and the streaming platforms you use.
If you’re just getting started with OTT advertising, we recommend allocating 10-20% of your overall ad budget to OTT. This will give you enough money to test different platforms and targeting options to see what works best for your business.
OTT ads cost around $25-$40 per 1000 views, and you only pay if someone sees your ad.
On the other hand, TV advertising can be expensive, costing $40-$200 for every 1,000 people who see your ad. This form of advertising is also less efficient than OTT advertising because there is no way to track how many people actually see your ad. Additionally, TV advertising can reach people you don’t intend to target, whereas OTT advertising is more targeted.
Once you’ve found a platform and a targeting strategy that works well for you, you can start increasing your spending. The goal is to find a balance between reach and frequency. You want to make sure as many people see your ad as possible, but you don’t want to overspend and waste money.
What are some tips for creating successful OTT ads?
Here are a few tips to help you create successful OTT ads:
- Keep your ads short and sweet. People have short attention spans when streaming content, so you need to ensure your ad is concise and to the point.
- Make your ad visually appealing. OTT ads are typically displayed on big-screen TVs, so you need to make sure your ad looks good in a large format. Use high-quality videos and make sure your ad is properly formatted for the platform you’re using.
- Use persuasive copy. When it comes to your ad copy, make sure it’s clear, brief, and compelling. It should explain what you’re selling and why someone should be interested.
- Get creative. OTT advertising allows you to be creative and stand out from the competition. Think outside the box and come up with an ad that’s unique and memorable!
- Test, test, test. The only way to know what works best is to test different platforms, targeting options, and ad formats. Try different things and see what delivers the best results for your business.
In today’s digital world, technology is constantly advancing, giving business owners new opportunities to spend less and earn more.
While there’s still a market in traditional advertising, OTT advertising is undoubtedly beginning to disrupt the industry, and with good reason. OTT advertising allows business owners to target a specific audience with laser precision, ensuring their ad spend goes towards people who are actually interested in what they have to offer.
With the tips outlined in this article, you should be well on your way to creating successful OTT ads that will help you generate leads and grow your business.
So what are you waiting for? Get those ads up and running and watch your business take off!
What are the benefits of OTT platform?
Benefits of Over The Top Platforms
- Cost-Effective – Anyone willing to watch online digital content, can register themselves and pay a monthly or yearly subscription amount which makes it cost-effective.
- Easy Access – One can log in to these OTT platforms through mobile applications, smart TV, laptops, tablets, etc.
What is OTT reach?
OTT ads, also known as streaming TV ads, are the advertisements delivered to viewers within this video content. OTT, or streaming TV, ads offer an opportunity for advertisers to reach new audiences at scale as more viewers lean into streaming video content in lieu of traditional cable and broadcast TV.