2015 is the year of the great cable unbundling; countless cord cutters and cord nevers are downloading apps to watch online video and paying subscriptions to online platforms. With OTT services like Hulu, Netflix, Amazon Prime and more leading the way, now’s your chance to firmly establish yourself as a major OTT player before the competition gets fierce. Here are a few things you need to know to help you stand out from the crowd:
Give viewers the kind of content they want
When it comes to content types, the TV industry hasn’t changed much. Standard formats remain as following: 22- and 44-minute shows and 2-hour movies. Successful OTT service providers will not be confined by industry standards. They instead adapt to their audiences by giving viewers exactly what they want: shorter bites, binge-viewing opportunities (i.e., 2-6 episodes available at once), live/social events and targeted, shorter promotions. Millennials, in particular, want to be a part of the conversation, so don’t underestimate the power of immersive experiences that speak directly to them, as well as social engagement. The more viewers you get to talk about your content, the better! It’s important to do this today while viewers are still establishing new behaviors and choosing which OTT platforms resonate most with them.
Give viewers an experience they’ll love
Cord cutters and cord nevers have abandoned pay TV because they are unsatisfied with how it works. They don’t want set-top boxes, program guides, DVRs or hundreds of channels. They demand more quality content that’s available any time of the day and on all their devices. So, why does this matter? Because timing is everything! Your viewers don’t go by your schedule; they go by their own. You can help your viewers access your content by making it available around the clock. Don’t be afraid to influence your viewers either. With targeted promotions, recommendations and search, you can help them discover brand-new content and keep them coming back for more. Remember to encourage them to engage with your content through your website, apps and social media.
Give viewers slimmer packages with flexible pricing
Viewers are bombarded with too many channels they don’t want and too many ads that aren’t relevant to them. With your OTT service, you now have the ability to foster a personalized experience to your viewers, e.g., “skinny” packages, a-la-carte channels, targeted promotions and advertising, new online rentals, etc. By customizing your services to your viewers’ wants and needs, they’ll thank you for actually listening to them.
Capturing Audiences Based on Their OTT Preferences
From content, to user experience to monetization, you’ll need to cover a lot of groundwork to establish yourself as a noteworthy OTT competitor. Remember, you don’t have to do this on your own. With Verizon Digital Media Services as your partner, we can deliver the best TV-like experience to your online viewers and help you realize the revenue your OTT business deserves.
Check back soon to learn more about how Verizon’s Broadcast/OTT Solution can help you launch your OTT service faster and more efficiently.
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