When most retailers think of advertising on TV, the first thing that comes to mind is… cha-ching… that it’s expensive. With over-the-top TV (OTT), it doesn’t have to be.
Wait… but what is OTT? Over-the-top TV or OTT delivers content and TV programs via an internet connection through apps like Hulu, YouTube, Disney+, Netflix, and Amazon Fire on a device, such as a computer, tablet, phone, Smart TV, streaming device (i.e., Roku) or even a gaming console (i.e., PlayStation).
With today’s cable cord cutters, there are many different ways consumers are watching TV, so the popularity of OTT continues to grow. In fact, Statista predicts that by the end of 2020, consumers will watch an average of almost 19 hours per week of OTT.
Whether your goal is to drive business to your chain or regional franchisee markets by launching a new product or using a compelling retail offer, OTT serves as a medium to build brand awareness and drive local traffic while visually delivering your message to consumers.
Here are my top 4 benefits to using OTT as an effective medium to reach your business goals:
- It is cheaper than traditional TV. If you are a stand-alone or small group of retailers with a limited budget, OTT is a great way to stretch your funds.
- It is highly targeted. With OTT, you are able to directly reach your target of consumers and provide parameters for the content delivery.
- You are able to see and track direct results.
- The cost of OTT is based on a cost per thousand basis, the cpm of impressions made on your very specific target audience. Whereas the cost of traditional TV advertising is based on audience estimates, so specific targeting is very limited compared to OTT.
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