How OTT advertising is driving a paradigm shift in digital brand marketing
The OTT space is growing to become very valuable for marketers to capture new target audiences and provide brands with another way to increase brand engagement.
By Chanpreet Arora
All over the world, media consumption is increasingly taking place in digital form. Over-the-top video (OTT) has been one of the predominant forms of visual entertainment among consumers since the 2000s. With the onset of Covid-19, the popularity of OTT video has skyrocketed further. According to a recent report by TVision Insights, the time spent on AVOD fell from 9.3% in the first quarter of 2021 to 38% in the third quarter of 2021, prompting advertisers to spend more.
Over the past couple of years, the OTT ecosystem has grown more lucrative from an advertiser and marketer perspective, with the marketing community placing bigger bets on how they spend and integrating with these platforms. forms beyond the usual spots. Taking advantage of this landscape and opportunity for growth, media owners like Voot continue to innovate to ensure marketers are able to drive a return on investment for every dollar spent.
Rise of digital IP
2021 saw OTT platforms take risks and experiment with digital-only IP addresses with the goal of bringing viewers premium, exclusive, and engagement content to the next level. Providing viewers with digital exclusive IP addresses has increased the number of viewers and time spent on platforms, presenting brands with a promising consumer engagement offer. Bigg Boss OTT was an evolutionary step that united entertainment and brands in a unique way. IP attracted new categories of brands to advertise and engage in the digital space as well as brands that were comfortable with TV to experiment with OTT support. With the Bigg Boss OTT success story as a case study, platforms have started proactively producing digital IP addresses that will further help them connect viewers with advertisers and marketers.
Video is moving from a passive activity to an interactive activity. The OTT era is all about interacting and interacting with the audience. A handful of brands have been built on interactivity because it allows them to better understand what their TG wants and needs. With the growing trend of fully digital gaming and first-class concepts, OTT players are unleashing the power of fandom and bridging the gap between brands and consumers. OTT Actors enable brands to engage more deeply with viewers through interactive features such as polls, quizzes, play-alongs, votes, changing the narrative of storytelling and bringing a whole new paradigm to business. ‘commitment. With the scale of the audience on OTT, interactive parts help brands connect with their target audience through meaningful integrations. Brands, too, are increasingly relying on premium platforms to take their interactivity game to the next level. With transparent technology solutions and a solid infrastructure, OTTs strive to provide support to brands, resulting in more expense.
Being able to reach your audience where they are, when they are most responsive to your message, is of critical importance. The importance of OTT advertising is already becoming incredibly clear to many marketers. With extraordinary targeting capabilities, OTT on its own has enormous potential; but when combined with programmatic, it can be unstoppable and create the differentiator a brand needs to stay ahead of the game. With the growing popularity of OTT platforms, programmatic advertising enables marketers to adopt an already successful advertising strategy and maximize its potential in real time. It improves opportunities by combining target audience efficiency with broader reach, faster bidding and buying, and a truly personalized experience for users. With the growing demand for content consumption on OTT platforms, programmatic will continue to evolve to work more effectively for marketers, allowing the industry to have greater momentum around existing solutions and to build new strategies.
The OTT space is growing to become very valuable for marketers to capture new target audiences and provide brands with another way to increase brand engagement. Marketers able to effectively capture the preferences of the OTT audience and the nuances of OTT video advertising will remain at the forefront of the increasingly fierce competition for brand recognition and consumer loyalty.
The author is the head of the AVOD (Voot) of Viacom18 Digital Ventures. The opinions expressed are personal.
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