In the digital world, everything that happens leaves behind an electronic trail behind, and thereby every consumer’s actions and movements can be monitored. This is what differentiates OTT (Over-The-Top) advertising on digital platforms from our traditional way of advertising like cable TV or print. Leveraging OTT enables one to gain access to a lot of information and data about consumers in terms of how they engage and interact with advertising campaigns.
OTT platforms provide better control and transparency over the ads served, thereby providing the best options in terms of placing as that will have a higher completion rate. These insights into every feedback, whether negative or positive, for the betterment of future marketing and advertisement campaign. Ensuring the right campaigns are run to the right set of audiences at the right time needs pacing OTT campaigns evenly across channels through optimization.
There are several key metrics that need to be tracked in order to optimize OTT ad performance:
Click-Through Rates (CTR)
Rather than traditionally applying advertisements, the modern audience is expecting a considerable step up in terms of advertising techniques. Hence click-through rate is an important measure to improve and optimize OTT ad performance. Therefore, over time, the comparison of results and analysis from different ads or platforms enables us to have data that can be used in further study of engaging messages.
Ad Optimization
Even in the advertising world, “First Impression is the Last Impression” holds good in various front. Therefore, it is better to optimize OTT ads in a way that it will perform best. There are many characteristics that play a vital role in OTT campaigns. Color and accents usage, images, fonts, sound, language, visual graphics, ad size, etc., are some of the aspects that should be kept in mind while optimizing OTT ads.
Device Optimization
This is another technique that can help in the optimization of OTT ad performance. Ads should be rolled out, keeping in view the device they are on. Let’s say that your ad of Samsung Galaxy Note 10+ is to run on the iTunes Store. This would turn out that the ad might not be viewed in the right format. Therefore, it’s always better to know what ads are running on which device because it can dramatically improve the ad’s performance. This is another way to optimize OTT ad performance.
Live Event Advertisements
Broadcasting live ads can provide several benefits to the advertisers. 95% of estimated sports viewing happens live. From live concerts to sports events, it is an effective way to optimize OTT ad performance. Live broadcasting of ads can provide vital and crucial data by responsiveness and engagement of the viewers. Let us say that an ad is broadcasted live, and the website traffic increases, then there is a clear relationship between both. Therefore, tracking and analyzing website traffic while broadcasting live can tell us to gain detailed information in real-time. However, with prerecorded content, these ads can be watched at any time of day or night or anytime in the future.
In the future, OTT attribution will be the critical element in the optimization wave. This will help teams to analyze campaign performance at device level reporting and impression forecasting to identify the right audience segment and serve the right ad across preferred OTT device and platforms. Overall this will help boost ad completion rate and conversion, thereby ensuring the right set of outcomes are delivered for each advertising dollar spend.
