The Importance of OTT Analytics
Keeping viewers engaged with a wide variety of content on a platform that is both intuitive and user-friendly is key for revenue growth, reducing churn, and building your customer base. To achieve this, a data-driven content strategy equipped with OTT analytics must be in place. OTT analytics offer invaluable insight into content performance, advertising metrics, and technical statistics to help providers shape the customer experience, improve streaming quality, and put personalization at the forefront.
Knowing which content is performing well amongst viewers, and which content isn’t, enables providers to make informed decisions about curating new content, removing unpopular content, and recommending similar content to users. OTT analytics can provide data on the average time watched, watch history, engagement, and search inquires to help providers create a personal experience for each user and increase content consumption.
Keep in mind that while it’s important to offer an abundance of content across all genres, this content must be categorized correctly and easy for viewers to find. OTT analytics can help providers determine if their content is organized appropriately or if it’s getting buried by tracking views, clicks, and search terms.
To ensure ads are relevant to a user, OTT analytics can be used to see what the user is currently watching, their location, age, gender, and what they’ve streamed previously. In addition to targeting the right users, OTT analytics can be used to track how well an ad is performing. Understanding exactly how many viewers purchased a product or signed up for additional information after seeing the ad on your streaming platform is vital to keep partners apprised of their investment.
OTT ad analytics help publishers maximize ad monetization without losing viewers. It can measure the impact of ads on user-perceived quality with unbiased visibility. Video player analytics help publishers optimize their ad strategy, see consumer tolerance for ads, and optimize the number of ad pods as well as the quantity of ads. Overall, it helps users to get a deeper understanding of consumer ad tolerance and track user engagement, oversee ad quality, and monitor ad server performance.
After you’ve built your customer base, the next challenge lies in keeping them. To ensure customer satisfaction, your platform must be fast, easy to navigate, and up to date with the latest features. OTT analytics can provide important data on load times, buffering, drop frames, issues with specific players or ISPs, and if channels are being delivered correctly.
If your OTT platform is streaming slowly, crashes often, or is experiencing interruptions, you can bet that viewers will soon be looking to switch to your competitor’s platform. To prevent cancellations and maintain a solid customer base, frequently review the technical stats within your OTT analytics solution and fix minor issues before they become big problems.
Overall, OTT analytics can help providers make smarter decisions when it comes to content curation, advertising placements, and technical enhancements. In a market that is projected to reach $223 billion by 2026, improving the customer experience and delivering high-quality content is essential to set your OTT platform apart from the rest. OTT analytics are an invaluable tool for remaining successful among the top players in the industry.
[Editor's note: This is a contributed article from Setplex. Streaming Media accepts vendor bylines based solely on their value to our readers.]
Beau Decker of Endeavor Streaming discusses how streaming platforms can harness predictive analytics to shape retention strategies, help reduce churn, and sometimes even shape the content being produced.
If you're looking to start your own OTT platform, or improve your current one, picking the right vendor is the first step. Before signing on the dotted line, it's important to do your research, compare providers, and take key offerings into consideration.