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The future of Digital marketing on OTT platform

Fresh fiction content on television is in short supply while the COVID-19 shutdown continues. Therefore consumers have turned to video streaming services. OTT platform use is increasing across the board, according to data from multiple market sources. It's no wonder, then, that the number of adverts placed on these platforms has climbed month after month since February of this year.

Surprisingly, the number of categories, advertisers, and brands advertising on OTT platforms decreased month over month in April 2020, as many industries cut down on ad spending due to the coronavirus outbreak's economic slowdown. In April 2020, the number of categories decreased by 20 compared to the previous month.


The following are some of the advantages of using an OTT platform for marketing:

Although digital advertising has a bidding mechanism, it is very different from traditional approaches. You won't have to compete for a limited number of spots on the air. Because there is no planned programming with OTT, there are no primetime television slots. People have the freedom to watch whatever they want, whenever they want.


Larger target audience:

There is a severe issue with cable and satellite services. Traditional CTV, like Blockbuster video rentals and VCRs, will be a thing of the past, depending on who you ask. By next year, more than 50 million cable and satellite subscribers will likely have abandoned their boxes. This is a significant increase over estimates from a few years ago. Consumers are saving close to a hundred dollars every month. This allows them to be more choosy in terms of the content they actually pay for. Cable has a significant problem in that it offers bundles with hundreds of channels. Yet, most subscribers only watch five of them regularly.


Excellent Targeting Possibilities

The option to narrow down your target audience comes standard with most digital products. Some businesses have seen the current inability to market on the four major platforms as a critical impediment to OTT advertising. Amazon Prime, Hulu, Netflix, and YouTube TV currently rely on digital subscriptions for revenue and do not rely on advertising.


GEO and Micro-Targeting

If you follow politics, you may be familiar with the term micro-targeting. That is the purpose if you think about it from a marketing standpoint. Niche-targeting is a word used within micro-targeting. Geo-targeting can be considered as a sub-category. This is where you can narrow down your target audience based on where they live.


Analytical Power

The foundation of future marketing development is analytical data. It's tough to know how effective you are at reaching your target audience if you don't have data from previous marketing campaigns.


Conclusion:

OTT streaming platform is here to stay, and it doesn't appear to be slowing down anytime soon. As more people switch to smart devices and turn off the television, technology will continue to advance. Now is the time to develop a marketing plan based on this technology. Moving into OTT is the way to go if you realize the value of addressing your audience where they are and are willing to try something new.

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