{"id":443,"date":"2021-09-02T06:03:45","date_gmt":"2021-09-02T06:03:45","guid":{"rendered":"https:\/\/beta.veve.com\/blog\/?p=443"},"modified":"2021-09-02T06:04:50","modified_gmt":"2021-09-02T06:04:50","slug":"how-ott-marketers-are-leveraging-new-and-innovative-advertising-avenues-to-boost-customer-acquisitions","status":"publish","type":"post","link":"https:\/\/beta.veve.com\/blog\/how-ott-marketers-are-leveraging-new-and-innovative-advertising-avenues-to-boost-customer-acquisitions\/","title":{"rendered":"How OTT marketers are leveraging new and innovative advertising avenues to boost customer acquisitions"},"content":{"rendered":"\n

Here is\u00a0a mind-blowing fact – North American customers emerged as the largest consumers of over-the-top (OTT) video content globally. North America dominated the OTT market share in 20191<\/sup>\u00a0and by the end of 2020, the market revenues were about $49 billion2<\/sup>. This is expected to increase to $94 billion3<\/sup>\u00a0in the next five years, despite being a mature market.\u00a0<\/p>\n\n\n\n

Reasons for the surge in demand<\/strong> <\/p>\n\n\n\n

The surge in demand is due to\u00a0several\u00a0reasons. One of the reasons is the high penetration of smart devices (smartphones and smart TVs) in most North American households. This compelled users to \u2018cut the cord\u2019 of cable TV, and transition to subscription-based OTT platforms.\u00a0The US subscription video on demand (SVOD) is one of the most\u00a0profound markets globally.\u00a0<\/p>\n\n\n\n

The pandemic also amplified the viewership of OTT video content4<\/sup>, with customers growing increasingly reliant on entertainment platforms to navigate the doldrums of the lockdown.\u00a0<\/p>\n\n\n\n

A mature market with growing competition<\/strong> <\/p>\n\n\n\n

While it is quite evident that the US OTT market is a mature one, it has still not plateaued. With new OTT players such as Apple TV+ entering the market, the competition is only heating up. However, marketers should take comfort in the fact that new customers are still looking to add subscriptions to their collection. <\/p>\n\n\n\n

The best time to reach new customers<\/strong> <\/p>\n\n\n\n

It\u00a0is\u00a0widely observed that\u00a0when there is a\u00a0launch of\u00a0a\u00a0new show or season,\u00a0the number of new subscriptions increase.\u00a0This primarily happens in Q4, during the holiday season. However, announcements begin much earlier.\u00a0It is\u00a0therefore\u00a0important for marketers to tap into the excitement created around the launch\u00a0and\u00a0run advertising campaigns in Q3.\u00a0<\/p>\n\n\n\n

The opportunity<\/strong> <\/p>\n\n\n\n

Customers are\u00a0constantly\u00a0looking\u00a0for new and interesting content to\u00a0watch and\u00a0are\u00a0willing\u00a0to subscribe to new OTT platforms.\u00a0Marketers should intercept these interested customers at strategic\u00a0touchpoints throughout their mobile journey to drive conversions. One effective way\u00a0to reach this highly engaged\u00a0smartphone\u00a0audience is\u00a0by\u00a0running\u00a0ads\u00a0across\u00a0unique on-device placements\u00a0such as browser\u00a0homepages, minus 1\u00a0screen, default apps, app stores, and more.\u00a0These ads being non-intrusive in nature provide a good user experience and help\u00a0consumers easily navigate to their favourite and popular websites.\u00a0<\/p>\n\n\n\n

Further, pushing the right message to the right audience and at the right time is also paramount to the success of the campaign. Native ads such as Notifications<\/a> can be used to promote the launch of a new show or the release of a much-awaited season creatively to drive more subscriptions. <\/p>\n\n\n\n

Choosing the right platform to advertise<\/strong> <\/p>\n\n\n\n

These days, simply placing ads on search and social media\u00a0platforms\u00a0is\u00a0not enough.\u00a0In a saturated market such as OTT, advertisers are compelled to find innovative ways of reaching customers, away from the clutter.\u00a0VEVE<\/a>\u00a0has helped several OTT brands extend their reach to over\u00a070+ million\u00a0daily\u00a0active\u00a0users\u00a0(DAUs) via Android mobile handsets (OEMs), browsers and telcos, and skyrocket their conversions with its unique on-device placements and ad formats.\u00a0With\u00a0specific\u00a0targeting options,\u00a0creative\u00a0and operational\u00a0support,\u00a0brands\u00a0have managed to optimize their campaigns to ensure a high return on ad spends\u00a0(ROAS).\u00a0With VEVE brands have consistently seen\u00a0a\u00a0growth\u00a0in the number\u00a0of subscriptions\u00a0of\u00a0up\u00a0to\u00a020X and an\u00a0average\u00a0conversion rate of 1-2%. <\/p>\n\n\n\n

Interested in exploring how VEVE can help drive subscriptions for your brand? Fill the form below to receive our media deck in your inbox.<\/p>\n\n\n