The digital advertising ecosystem includes many tactics, and each varies in its ability to target and engage consumers. Your advertisers may be hesitant to adopt new channels because of costs or misconceptions about how to execute. We know broadcast salespeople are eager to expose their advertisers to the value of OTT and video. Defining and explaining it to your customers can make all the difference.
Start with Stats
In making a case for advertisers to realize the potential of OTT and video, begin with the stats. There’s a lot of data regarding these tactics and their ability to attract and convert customers. For your customers to understand the value of OTT and video, share these points with them:
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74% of people who watched an explainer video on a product or service subsequently bought it.
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Video ads outperformed image-only ads by 20% on social media.
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66% of people who watch OTT discovered a new product or company while streaming.
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40% of viewers paused what they were watching on OTT to go online and check out or even purchase products or services from ads.
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Advert recall is strong with OTT, with 72% of viewers remembering specific ads.
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98% of U.S. consumers subscribe to at least one OTT platform.
These data points affirm that OTT and video work to drive revenue for advertisers by engaging viewers and building trust. They also demonstrate the breadth of audiences available to target in these channels.
Beyond Stats, There Are Many Reasons for Advertisers to Buy OTT and Video Ads
Even after you provide these stats, some advertisers will still object. They have valid concerns, including:
- Not understanding how these ad units work
- Concerns about not having assets and costs associated with them
- Uncertainty about the benefits and how they differ from other digital ad types they use now
Let’s dive deeper into each of these.
Explaining How OTT and Video Ads Work
OTT refers to the streaming services that deliver content over the internet. Some of these only have paid subscriptions, like Netflix. Others offer ad-supported subscriptions that cost less, such as Hulu and Roku Channel. The third category is platforms that are free to users and have advertising like traditional TV.
Placing ads on these platforms works similarly to display ads. You can target based on behaviors and interests, ZIP codes, state, DMA (designated marketing area) and household demographics. What’s most enticing about these ads, besides their interactive appeal, is that viewers can’t usually skip them.
Video ads have similar targeting capabilities and can do so even more precisely. These videos can play on websites and apps, and you can also use them on social media. When using video ads on social sites, you can build a very custom audience to receive those ads for the best alignment.
Alleviating Concerns About Asset Creation and Costs
Your local advertisers may be leery about video because they believe it’s too cost prohibitive. However, the world is full of videos today, many captured from smartphones. The quality of the content does matter, but it doesn’t require a huge budget.
In our on-demand webinar, Video Explosion, we go over many strategies to help your advertisers. There is likely an intimidation factor, but you can get customers more comfortable by sharing ideas and techniques.
Defining the Video Difference to Advertisers
In simplest terms, the value of OTT and video advertising is the connection between the creative and the audience. It’s something you can’t replicate in other digital advertising. There’s no debate about the future of content consumption; today’s consumer prefers video over text and streaming over traditional TV and movie viewing.
For your advertisers to remain relevant and in front of their customers, they need to make a shift. Investing in OTT and video can deliver high-quality engagements that result in more revenue. Sharing the positives and possibilities also solidifies your place to customers as a trusted digital advertising expert, not a salesperson.
Conveying the Value of OTT and Video: Data, Strategies and Ideas Easily Make the Case
The next time you meet with an advertiser who’s not using video, broach the subject again. Listen clearly to their objections. Then, share what you know to be true. It’s a conversation that could change what happens next. Working with customers to achieve this new goal can lead to success for all parties.
Get more insights on the landscape of video advertising by reading our post, OTT vs. CTV vs. Video Ads.
