Are you Using this Channel to Tell Your Brand Story?
How to use OTT Platforms for B2B Marketing
If you’ve been doing social media + drip + thought leadership + event for your marketing, we’ve got a channel that may give you the ROI of all of these and more for your brand.
Yes, Over-The-Top (OTT) is the new channel marketers should put on the roadmap. Think Amazon Prime. Think Netflix. Think YouTube and Vimeo. Think any of the channels in the graphic below. Seriously. We’ll tell you how.
Simply put, OTT is streaming video on any screen rather than live video/TV. OTT content platforms have been witnessing tremendous growth not only in North America and the UK, but also in emerging markets like China, India and Brazil. Based on research data available, the video revenues from OTT platforms in 2017 were at $53 billion. This number is expected to grow to $129 billion by 2023. These platforms have diminished geographical boundaries and made the consumer experience seamless in many ways.
OTT platforms offer different kinds of services using some innovative business models, such as Subscription-based Video-on-Demand or SVOD through which consumers subscribe to content for a specific time period; Transactional Video-on-Demand or TVOD where consumers buy content on a pay-per-view basis; or Advertising Video-on-Demand or AVOD that is free for the consumer. AVOD is usually forced upon the consumer – not the ideal model for brand content.
How to tell your brand’s journey with OTT
Here are some suggestions to start your content creation journey for OTT platforms.
- Build a documentary-style video or two about your company or brand journey. While you weave in the vision/mission/values, be honest about the ups and downs. Document the learning and how the company improved as a result. Talk about your partners. Talk about your consumers. Tell their stories. Heck, build an entire platform for the stories. Microsoft does this in style.
- The story is in the spice. Sample this riveting piece of storytelling from HP. There is a wolf, and there are sheep. And, oh yes, there’s Christian Slater. All telling the tale of how secure HP printers are.
- If your product is a complex technology solution, build a series of educational content pieces that help viewers learn and appreciate your product. We built these how-tos for Intuit India’s QBO product, helping them drive better DAUs (Daily Average Users) for the fintech SaaS platform.
- Move people. Don’t worry about the marketing aspect, focus more on the storytelling. In a world that thrives on fake and flash, authenticity connects like never before. Beer-marker Stella Artois tells the story of hand-painted billboard makers in their Vimeo documentary Up There. The connect? Both the company and the billboard makers are obsessed with traditional craftsmanship. What a way to talk about your values!
- Don’t forget to be silly. Gillette’s Are we killing the kiss? is a tongue-in-the-cheek reference to shaving. 5 minutes of sombre hilarity ensue. Engaging. Funny. Great OTT content!
The numbers don’t lie: video platform Vimeo pivoted in 2017 from being a YouTube competitor to serving OTT content creators. The platform now hosts over 1000 OTT subscription services, with 1 million+ paying subscribers. These numbers show how OTT is fast gaining currency as a valid channel for communicating with customers and users.
Why OTT? Who You Want, Where You Want Them
As is usually the case, data on non-US OTT viewers is still scanty. But a sampling of US data shows us that the right target segments for B2B marketing live on OTT. The comScore OTT Intelligence report puts a significant number (~46%) of heavy streamers under the age of 18-34, about 39% in 35-44 yrs group, and about 31% in the 45-54 yrs group. These numbers are certainly significant for the B2B segment as its key decision makers predominantly belong to these age groups.
The comScore OTT Intelligence study reports that in the US households in Feb 2018, 59MM out of 94MM (around 63%) with wifi connected devices, streamed on-demand video content for close to 50 hrs on an average. The study puts 90% of the streamed data being consumed by Heavy OTT Streamers (with 3 hours and 22 minutes per day of OTT viewing per day) while it is 20 minutes a day for light streamers (about 20 minutes of OTT viewing daily). What does this mean? You have about 20 minutes daily to tell your story on OTT and grab the attention of your viewers. Certainly more time than an email, social post or even a longish blog (currently, long-form content is usually a 15-minute read).
OTT Content That Works
Statista reports that fact-based content (aka documentaries) on OTT channels are very popular. YouTube viewership data puts how-to videos, product reviews and educational content at the top of the pile. Globally, documentary viewership has seen a steady increase across the globe.
Connecting The Dots
With these insights, it is not far-fetched to say that brands that create fact-based, educational, original and authentic OTT content can leave behind a lasting impression on the consumer’s mind. The AI-enabled personalization these OTT platforms provide, help businesses reach their target audience and convey their brand story, the journey and the value they offer in a powerful way.
In the next 3-5 years, OTT platforms will be the go-to place for all content. Hack this space today and be the trendsetter for tomorrow!
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References:
https://www.comscore.com/Insights/Presentations-and-Whitepapers/2018/State-of-OTT
https://filteredmedia.com.au/blog/what-is-brand-storytelling/
https://contentmarketinginstitute.com/story/
https://www.comscore.com/Insights/Blog/Reaching-the-Elusive-OTT-Consumer
https://blogs.gartner.com/ted-chamberlin/2018/02/27/whats-happening-in-ott-here-is-what-i-am-seeing/