Due to the convergence of linear and digital TV, advertisers now have the potential to leverage the greatest reach and scale of all time. Still, while OTT has become a common way for viewers to watch their favorite shows, it’s still an emerging (albeit quickly growing) area for brands—especially as a tool for engaging with hyper-targeted audiences and achieving incremental reach.
During TVSquared’s latest webinar, our Head of Customer Success, Callum Guthrie, addressed how to overcome some of the challenges associated with OTT, including tangible strategies that advertisers across industries can implement in order to maximize the value of OTT.
While the full webinar is available, here are some of the key OTT insights from Callum:
- This year, brands are beginning to focus on diversifying OTT buys. Specifically, many TVSquared clients are, on average, running ad campaigns across ten different publishers.
- It’s important for advertisers to keep in mind that there can be a great deal of variance between publishers when it comes to critical factors such as response rates (which can differ by 5x) and CPM rates (which can vary by 6x).
- For TVSquared clients that are advertising across OTT platforms, one area of consistency has been Saturday and Sunday driving high performance and impression rates. Sunday, in particular, has a response rate that is 30% above average. The weekend comes at a premium price though (the cost per response is 36% above average).
- Advertisers should never underestimate the need to “test, learn and repeat” when it comes to campaigns. What may work for one platform (or one specific advertiser) won’t necessarily work for another. It’s also vital to never make assumptions about an intended audience or a particular platform—the most efficient and effective platforms, times, etc. to place an ad may surprise you!
- Frequency can build up very quickly on OTT platforms, which can ultimately have a negative impact on brand perception or the consumer experience. An always-on, transparent and unified platform is key to allowing advertisers to identify the optimal frequency (aka how many times a spot can run before its value begins to drop).
- Regardless of how familiar an advertiser already is to an OTT environment, it’s essential to continually measure and optimize campaigns, identify the right KPIs (keeping performance top of mind) and make sure that creatives are audience-driven.