How to build an OTT audience strategy? 5 marketing tips to learn from the industry’s biggest player
The foundation of success in any industry is a well-chosen marketing strategy. This rings particularly true for broadcasters and video content providers, as the number of users interested in video platforms is steadily growing. However, as the market increases, so does the competition.
Recently, we have seen a surge of new VOD services that are trying to encourage new users to subscribe to their video platforms. As a result, customers have to face the challenge of choosing only one or two best platforms for them. And the tragic reality is that quality content itself does not guarantee success. That’s right – your videos may be engaging, but if they don’t reach the relevant audience, your video platform is bound to fail.
So how to emerge victorious in the battle for customers’ hearts (and wallets)? The answer is marketing – and there is no better place to look for tips than the industry’s biggest brand. We are talking, of course, about Netflix.
The quality of the product combined with the marketing efforts helped Netflix gain 37% of internet users worldwide.
How do they attract their audience and, more importantly, keep them subscribed? Let’s take a look at five tips that might help you craft a winning marketing strategy.
What is video streaming marketing?
The goal of marketing in the streaming industry is promoting video services and products. Marketers also need to work on increasing engagement with the existing subscribers. The right strategy is the key, as you need to know how to measure the success of the business and to be aware of where your brand is heading. That is why you need to plan your key objectives and goals and take care of the content quality. You can become more visible and recognizable through engaging ads, marketing campaigns, and advertising videos. Of course, we need to remember about the marketing budget, but there are many ways to succeed without spending loads on ads.
5 marketing tips to build strong relations with your audience
Get to know your audience
Each of us, including online users and subscribers, has different needs, interests, and expectations in terms of video streaming and other subscription services. Defining who your potential users are will help you to deliver them the valuable content they expect. You need to consider what group might be interested in your online video content, what you can offer them, and why they need your streaming services. Through an efficient audience strategy, you will build a strong and lasting relationship with your users.
You need to pay attention to what users are watching, what devices they use (mobile devices, smart TV, mobile phone), how much time they spend on your platform each day, etc. Unlike traditional TV, the streaming platform has access to much more data than can be analyzed.
Netflix is a master at successively getting to know its users. This top OTT provider constantly researches what people want to watch, when, and where. The goal is to maintain a long-term relationship with the customer. Netflix also considers factors such as the ratings, what time the users pause or abandon the content, and if they ever come back to continue watching. Your audience data is the base on which you can build a smooth and personalized user experience on the streaming VOD platform later on.
Improve communication with your existing audience
Think about how you communicate with your existing subscribers. If they have been using your OTT video platform for a long time, it means they are loyal customers. But to make sure their interest will not dwindle, you may want to improve how you communicate with them. You can use direct email communication with recommended video content prepared especially for that one customer. You can also use a loyalty program or a birthday discount. It is an act of expressing gratitude for staying subscribed. Make sure to take a look at how your competitors are doing it and go one step ahead.
Netflix regularly sends out personalized emails to its loyal subscribers with the latest productions that may be of interest to them. This is a great way to improve communication with viewers. Additionally, it allows you to quickly and effectively inform them about the next seasons of their favorite series, live events, or new releases.
Check your audience activity on social media
Both existing and potential customers can be found on many social media channels. You may take advantage of the fact to purchase social media advertisements and attract new subscribers. But can you use it to increase the engagement of your existing users? Definitely! Increasing your brand’s social media activity can alert customers to the latest videos that have appeared on your OTT platform. Start a conversation: ask your audience what they think about the specific video, what they are planning to watch, or if they are excited about the new movie premiere.
You will start to notice how willing some people are to discuss their favorite videos in the comments section! Some will also be eager to criticize them, but do not worry – it will improve your reach even more!
Personalize the experience of the users
Subscribers appreciate Netflix for personalizing their experience. For example, their VOD library is divided into almost 80 thousand genres! We can find various genres that, thanks to their diversity, reach the appropriate audience.
Here is one example: you can use their search engine to find categories such as emotional documentaries about fighting the system or critically acclaimed animal fables.
‘’70% of Netflix video content watched by the users is based on recommendations.’’
By using their research, analysis, and AI algorithms, Netflix can select the video content based on what the viewers have already watched. Platform users don’t even have to search for relevant content because it’s already been suggested for them. Netflix’s algorithm knows what we like and decides for us. That means its users don’t have to waste their precious free time to decide what to watch on a Friday night.
Provide the video content the audience expects
Listening to your audience helps brands gain valuable insight into the evolving behavior of their target audiences in real-time – and adjust your marketing strategy accordingly. You can achieve it by using social media, where internet users often engage in expressing their opinions.
Through social listening, companies can achieve valuable insights into customer behavior.
Armed with the knowledge about how that behavior changes over time, you can develop a social media marketing strategy.
The top OTT providers can meet the users’ needs by listening to them. This provides the opportunity to prepare content related to the topics that are of most interest to the OTT audience. It also allows them to build long-term relationships, come up with new solutions and products, and generate more revenue.
So how does one reach their users to learn about their needs? There are multiple different ways, for example, by creating short surveys providing information about particular film productions that are of interest to the target audience. We can also ask for movie ratings or use social media. People often express their opinions on Facebook, Instagram, or Twitter. We can read what they have to say and engage in discussions.
Your relationship with your existing or potential audience has a valuable impact on the growth of your business. Building an OTT audience strategy is a process that will change and adapt over time – but if you do it right, it is guaranteed to help you win new subscribers and generate revenue.
Knowing your audience will allow you to better tailor your content to what your users want and are searching for. You should also remember your loyal customers and improve how you communicate with them. You can use social media to check their activity on selected channels and start a successful conversation. You should remember about personalizing the experience of your users and making them feel special. And finally – listening to your audience! In contrast to traditional television, you can take advantage of the opportunity to give users the productions they want, rather than hoping they will enjoy what is already available.