The state of today’s OTT industry offers consumers unprecedented choice, leaving content owners with the challenge of not only meeting high expectations, but continually exceeding them to keep their audience engaged, and most importantly, happy. With all the direct-to-consumer options now available to consumers, content owners are in a constant bout against the competition for consumers’ attention. In order to pull past the competition, you need to effectively market your service and know who your viewers are - and we’re not just talking about their names. Analyzing and studying every aspect of your viewers’ behavior patterns will allow you to make more informed marketing decisions for your service and deliver content that your customers are truly interested in.
ATTRACTING & KEEPING OTT SUBSCRIBERS
When it comes to attracting and keeping OTT subscribers, an effective marketing strategy is critical. It all comes down to the 3 P’s of marketing - package, price and promote.
Content packaging is essential in driving new subscribers. Your OTT service should allow you to easily and seamlessly offer your subscribers new content packages and pricing based on current demand, industry trends, time of year and other factors in order to compete with other OTT services and differentiate your service and offering. The NeuLion CMS gives you full control over how you package and bundle your content to maximize your content’s return on investment (ROI). Select the content type – live channels, live events or VOD -- set the price of packages, define content access policies such as geographic availability and blackouts, and platform and device coverage, all within your CMS’ admin dashboard.
Not all your subscribers are confined in one region, so why limit your subscribers to default settings of only using one local price/currency and payment methods? Whether your subscribers are in the United States, Dubai, or Germany, the NeuLion Digital Platform allows you to simplify and personalize package options based on location, ultimately reducing the hassle to allow subscribers to use their currency and payment method of choice.
Once your packages are in place, it’s time to get creative by offering various marketing promotions and merchandizing options to your viewers. From discount codes, free trials and BOGO deals, to product bundles, gifting and loyalty programs, give your subscribers a reason to come back more often and engage in more content. You can even take it a step further with advanced promotions, by partnering with a third party to drive new interest for your OTT service.
MAKE INFORMED MARKETING DECISIONS BASED OFF CONSUMER BEHAVIOR PATTERNS
Now that you’ve properly marketed your service to draw eyes to your content, how do you continually attract new subscribers and retain current subscribers? Answer: NeuLion ACE Analytics®.
Successful direct-to-consumer businesses are dependent on flexible data-driven marketing capabilities to maximize user acquisition, conversion and retention. To measure your marketing efforts, NeuLion created NeuLion Ace Analytics, a proprietary analytics tool that provides sharp insights and fast intelligence allowing you to identify, manage and analyze user segments to create effective marketing communications programs.
Being able to understand consumer behavior patterns is crucial. NeuLion makes it simpler. As your consumers connect to and stream your OTT service, NeuLion aggregates all this audience watch data to provide you with meaningful insights into consumer behavior and engagement. For example, a recent finding from our Watch Data Reports shows that when a viewer watches content on more than one device, lifetime value and retention rates increase drastically -- by over 270% and 500%, respectively, on 2 and 3+ devices. What does this tell you? Focus your marketing tactics around getting your viewers to watch content on multiple devices to drive higher lifetime value and sustain customer relationships and increasing subscriber retention.
By having such a tool in your OTT service, you can confidently answer your day-to-day marketing questions -- what are my most effective and profitable channels and campaigns? Who are my most valuable customers? How do I turn free users to paid? How do I re-engage inactive users? Who is likely to churn and how can we keep them?
With NeuLion ACE Analytics, you are given full visibility into your consumers’ behaviors. These insights can then be used to make informed content offerings and UX changes, track campaign success and monitor trends seen across your service. From customer life cycle tracking, registration and order management, churn trends and revenue tracking to customer support, trial marketing, file management and campaign attribution, NeuLion Ace Analytics creates easy-to-use views, dashboards and reports, all centered around your service.
Many analytics tools provide extremely valuable insight into behavior patterns and allow you to get a fuller understanding of each individual user. A commonly asked question once that data is collected is, “how do I benefit from this”? Using a tool like NeuLion Ace Analytics doesn't limit you to the standard usage reports. It provides you with the insights needed to effectively grow your business, leveraging information around increasing conversion rates, retention, user experience, lifetime value, customer loyalty and reduce churn.
As OTT services continue to pop up across all industries, serving consumers engaging content is essential. A solid marketing foundation, coupled with the right analytics, will set your future communications up for success.
Stay tuned for our next post in this series where we will talk about the fourth component of the NeuLion Digital Platform - monetize.