Online video is here to stay, whether you believe it or not, before the COVID era. Statista estimates that the OTT sector will generate $205 billion in revenue. By 2022, video advertising accounted for nearly $107 billion of that total.
It’s hard not to conclude that the need for video streaming development will only increase in the future. It’s not always simple to promote your business in the OTT environment. Where viewer behavior and tastes are always shifting, be prepared to go all the way if you want to satisfy your customers and meet their expectations.
Additionally, pay attention to the areas that might increase viewer engagement. Such as sturdy architecture for seamless streaming and rock-solid security for content. And user data protection as well as pixel-perfect UI.
This trend of customizing the customer experience is on the rise, and for a good reason.
80% of consumers prefer to buy from a business that tailors its products and services to their individual needs.
About 66% of customers want companies to pay attention to their individual demands.
Insights on the preferences of individual customers account for 70% of all responses.
A direct-to-consumer (OTT) environment like this enhances the relevance of personalization several-fold in comparison to other industries. The interests and habits of viewers frequently shift, making it impossible to forecast what they’ll like next. Use machine learning and data analytics if you want to attract more viewers and keep them watching longer.
Use a variety of data sources to feed your recommendation engine. Such as the user’s watching history, the popularity of movies, information from social media, and metadata from the films themselves (actors, reviews, genres, parental rating, etc.). The influence of demographics, language, age group, location, time of day, and device type should also not be underestimated.
Suppose you take the time to thoroughly analyze all these characteristics. You can automatically give hyper-personalized content suggestions and customize payment methods and subscriptions.
Utilizing ML, you may customize not just video content but also the visuals of movies. In order to create a movie poster that would encourage viewers to watch more. You’ll need to know what kinds of movies they like and who their favorite stars are.
Automated compilations of various promotional materials, including trailers, synopses, and metadata. That may greatly enhance how audiences discover and consume new content.
Insertion of Ads into a Scene
eMarketer’s numbers show that AVOD services are gaining momentum. Ad-supported video distribution is expected to grow by 30.3 percent in 2020. And more than half of US internet users are expected to be AVOD watchers in four years. Make sure you’re paying attention to both the advertising you’re serving and the way you’re serving them.
You won’t have to separate scenes when using ML to find the most suitable area to put ads into a piece of content. Ads will be tailored to specific video scenes and, if necessary, to the tastes and behavior of the viewers. Ads for food or home goods might accompany scenes at restaurants or shopping centers, for example. Commercials for cosmetics and other feminine care products also work well in films geared at young women.
Using ML-based context and ad analysis, you can significantly increase brand safety if you want to avoid the automatic insertion of suspicious advertisements. Next to your video, you may use this new option.
As a consequence, your advertising will be less irritating and more relevant to the viewer, which will lead to higher satisfaction ratings and improved engagement levels.
In addition, machine learning (ML) is critical to providing complete ad analytics. In other words, you’ll be able to determine the most effective ad formats. And environments by tracking conversions and audience reactions. Because of this, your digital advertising techniques will be more effective, resulting in more profits.
Success in video streaming depends on a high level of audience involvement in order to build a loyal customer base and generate a large amount of income. A company must keep its people engaged. Be prepared to employ cutting-edge technology if you wish to drive such a connection.
According to GWI, 86% of people use a secondary gadget while watching a primary one, such as an iPhone or iPad (usually a TV or laptop). Use these statistics to your advantage in order to amuse and soothe your viewers.
In addition to learning more about the content, they’re watching (such as actors, directors, and teams). Second screening features allow viewers to voice their opinions about what they’re seeing via social media or messaging services. And to participate in a variety of games and polls related to the main content. T-commerce and cross-selling might benefit greatly from such features. Users will be encouraged by the presence of branded items and information on the main page, as well as by the fact that you may target them depending on their interests.
Audience attitudes may be captured and analyzed during the second screening, which is critical for developing successful advertising campaigns, in addition to increasing viewer interaction during broadcast and advertisements.
Virtual reality (VR) and 360-degree (360°) video are two further internet video technologies that might help you stand out from the crowd. Sports content providers may provide viewers with virtual tours of the stadium. And stream games from every aspect available, for example. With TV shows, viewers may watch the show’s behind-the-scenes action as well as what’s happening in front of it. The metrics of video views, average time spent, a heat map, and VCR may also be used to measure the efficacy of this interactive capability.
The OTT market is growing more and more crowded and crowded. Your viewers and customers will grow. As a result, therefore, you must put them first and focus on their needs. You can’t do without out-of-the-box tools like tailored service, non-intrusive advertising, and appealing features.