The vast majority of OTT ad campaigns are imperfect works in progress that gradually take shape with the industry’s progression along with an ongoing analysis of what works and what doesn’t work.
The delivery of video ads on the web through streaming eliminates the middleman from the financial equation, setting the stage for highly efficient customer engagement that serves as the impetus for additional conversions, revenue and even recommendations to others in customers’ social and professional circles.
The challenge lies in building the critical mass necessary for your company’s OTT ads to make an indelible impression and possibly even encourage customers to spread the word about your products/services to others, potentially leading to a viral-like spread that steers more business your way.
Continue to build momentum with the ongoing monitoring of OTT ads, implement the necessary alterations and it won’t take long to boost your revenue.
Let’s take a quick look at a couple of tips that will improve your OTT ads.
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Tip #1: Track the Analytics
Measuring and tracking analytics and then taking the necessary action requires time, effort and patience. However, if you don’t perform such tracking, your business will inevitably misunderstand the OTT ad campaign and miss out on lucrative opportunities to heighten engagement.
If you are not tracking analytics ranging from impressions to targeted clicks, performance and beyond, you won’t develop a truly comprehensive understanding of how your OTT ads are performing.
Some platforms even provide helpful analytical tools to track important factors ranging from marketing budget ratios to sales, conversions and beyond. Sweat the small stuff, keep an open mind, continue to look for new opportunities and your OTT ad campaign will slowly but surely build momentum.
Tip #2: Creatively Optimize Your OTT Ads
The term “creative optimization” is much more intimidating than it actually is. In plain terms, creative optimization is a form of A/B testing. Perform A/B testing of advertising material to generate ads for the target audience, pinpoint and test elements ranging from ad size to calls to action, pictures, etc.
This ongoing analysis will provide invaluable insight that makes it that much easier to move prospects through the sales pipeline where they convert into loyal customers. Add in the fact that creative optimization helps businesses spend their advertising dollars that much more efficiently and there is even more reason to implement it at your business.
Tip #3: Embrace the Opportunity for Change
As is often said, change is the only constant. Businesses change. Consumers change. The economy changes and nearly everything else has the potential to change. What matters most is how you react to change and the prospect of additional change.
A business that stagnates is a business that loses customers and money. If your OTT ads aren’t expanding your customer base, it is time to make some changes. Perform testing with well-defined timelines, study the results and you’ll have a better understanding of engagements (or lack thereof).
Segmenting OTT ad campaigns for the tracking of the experiments and you’ll find out which strategies are most likely to work the best. Abide by a strict testing and revision process, delve into new platforms along with new times for airing the ads and other nuances to get a sense of the optimal approach.
When in doubt, tinker with the frequency rates. Alter the frequency toward both extremes, shift to the middle, track the results in each of the experiments and you’ll get a better sense of the optimal frequency rate for your OTT ads. The moral of the story is to be patient, closely analyze the results of experiments, weave in alterations to your OTT ads accordingly and your ad campaign will gradually build momentum.
Tip #4: Tweak the Ad Content to Maximize and Optimize Audience Engagement
Audience engagement is the name of the OTT ad game. However, if your business is like most, it has plenty of competitors who are also trying their hardest to maximize audience engagement. Maximizing the audience is important yet optimizing is also meaningful.
Audience optimization enhances profitability and, ultimately, the return on your OTT ad investment across the long haul. Develop customer personas to develop more of a comprehensive understanding of those most likely to want or need your product. Be patient after zeroing in on your target audience, continue to improve your OTT ads accordingly and you will catalyze engagement and conversions.