If you’re a CMO or marketing manager looking to stay on top of the ever-shifting media landscape, you’ve undoubtedly heard of the term “OTT advertising.” OTT stands for “over the top” and refers to the delivery of media content over the internet. In other words, it gives companies access to potential customers who are streaming content through services like Amazon Prime and Hulu with Live TV. But how do you leverage this technology and make sure your brand is getting seen by the right people? Read on for our ultimate guide to OTT advertising in 2023.
What is OTT Advertising?
OTT advertising is an umbrella term that refers to any kind of media content delivered over the internet—whether it be video, audio, or display ads. It differs from traditional TV advertising because it is programmatic, which means that ads can be targeted more precisely to specific audiences. This makes OTT advertising particularly attractive for brands trying to reach niche markets or engage with younger audiences who may not watch traditional television.
The Best OTT Platforms in 2023
When it comes to choosing an OTT platform, there are a number of factors that need to be taken into consideration—including cost, audience size, targeting capabilities, etc. Amongst some of the most popular platforms currently available are Amazon Prime Video, Hulu with Live TV, YouTube TV and Apple TV+. These platforms all have different advantages and disadvantages depending on what kind of ad campaign you want to run. For example, Amazon Prime Video has huge reach but limited targeting capabilities; whereas Hulu with Live TV has excellent targeting capabilities but limited reach.
How to Leverage OTT on Streaming Platforms
Once you’ve chosen a platform (or multiple platforms) for your ad campaign, it’s time to start leveraging them! This can be done through various techniques such as A/B testing different creatives, optimizing bids based on cost per view (CPV), and utilizing data-driven optimization strategies like dynamic creative optimization (DCO). Additionally, if you’re running ads on multiple platforms at once it might be worth considering cross-platform reporting tools so that you can get a better understanding of how each platform is performing relative to each other.
OTT advertising has quickly become one of the most important tools for marketers looking to reach niche audiences and customers who are a good fit for your brand. With so many options available—from Amazon Prime Video and Hulu with Live TV to YouTube TV and Apple TV—it can be difficult knowing where best to direct your efforts. However by carefully assessing each service based on cost per view (CPV), audience size, targeting capabilities etc., brands should have no trouble finding an effective way forward when it comes to leveraging OTT advertising in 2023!