6 Keys to a Dynamic OTT Platform Content Strategy Content strategy for monetization

The global OTT market is growing fast. It hit $82 billion in 2020, and industry experts are predicting $190 billion by 2026. If you’re ready to claim your share of the growing market, here’s how to build an OTT platform content strategy that will take you to the top.

  1. Set your goalposts

You can’t make a plan until you know what you want to achieve. This should be specific, measurable, and actionable. Asking pointed questions is a good way to guide planning.

Knowing how wide a niche you’re planning to cover will guide decisions on features and where to leave room for future expansions. 

Scale should be a major consideration, though. Your projected audience determines the types of cultural considerations, design choices, and language options to include. These are easiest to plan for in the beginning, so put it on your list.

If your main goal is entertainment, you might brush over some tedious details in favor of highlighting the most interesting parts of a subject. An educational platform would show a full process from different angles, and might even have a discussion channel. 

Keeping the purpose in mind gives you a level of overall consistency that’s hard to achieve otherwise. 

Once you have a useful description of your platform, outline what success looks like. How will you know when it’s time to add new features? What are some signs you should pull back and consolidate? 

You have full ownership of your data with your own platform, so don’t be afraid to get technical here. Something like, “Once I’ve passed 200,000 downloads and my 30 day retention rate is above 40%, I can add the next feature on my wish list” is an example of a concrete goal.

Finally, work out how you will differentiate your platform from competitors. Why will users join your platform instead of another? People are attracted to authenticity, so be sure your plan for differentiation reads true to your style. 

  1. Explore monetization options

There are 4 main monetization models to consider when developing your OTT platform content strategy. 

However, ads can be disruptive to the audience and contribute to a lower retention rate. There’s also the risk of lost income due to ad blocker software.

The drawback to the SVOD model is that it comes with higher customer acquisition costs than AVOD. The subscription price is also inflexible; raising it too much or too often causes regular subscribers to drop out.

These days, there’s a growing public dissatisfaction with “one and done” views, so TVOD is being overtaken by SVOD. It’s best reserved for premium events and special content. 

A tailored approach like this is more likely to appeal to a wide audience and give you the flexibility to stay profitable amidst changing market pressures. Hybrid models are more complex and time-intensive to manage, though. 

  1. Understand your audience

Before you can decide what to do, you need to understand how your audience might react to different courses of action. Gather and analyze as much data as you can get on your audience. Include points like:

Remember, your viewer personas have to be data-driven and based on analytics to generate useful insights. 

Check back on this periodically. Culture is very fluid, and what works this year might be a platform killer next year.

  1. Optimize your content production

Using your viewer persona, conduct seasonal reviews of your content as a whole. The majority should appeal to your most valuable viewer personas. Plenty of content leads to viewer loyalty. 

Make room for experimental or test content, too. This builds excitement and interest. Some of it may do so well it can become core content, and some might perform better when it’s used sparingly. 

When you see underperforming content, try to figure out why. Is it out of line with viewers’ interests, or is it just being presented wrong? Can you tweak it to boost views or should you cut your losses?

Never underestimate the value of popular evergreen content. You earn a higher ROI when people watch the same content more than once. 

If some content is being viewed over and over, try to create other content that captures the same feel. Be careful not to “flood the market” with dozens of identical videos, though.

  1. Diversify your promotion streams

Having a healthy variety of promotional methods lets you take advantage of new opportunities and gives you some protection against sudden market changes. 

Focus on things that have a high impact. That includes tailored keywords for your content and niche, building out a video sitemap, optimizing metadata, choosing relevant tags, including keywords in the meta description and image alt text, and creating attractive, easy to read thumbnails for your videos. 

  1. Evaluate, Adjust, Repeat

Strategy is a living process that needs to be regularly monitored and tweaked. It’s a regular cycle of evaluate – adjust – repeat.

Evaluate: What’s working? What isn’t? Are you meeting your overall goals? What is coming up that might affect your platform? How have past adjustments worked?

Adjust: Implement new ideas based on opportunities identified by your evaluation. Decide whether to keep or cut past adjustments based on performance. Take any necessary steps to prepare for potential disruptions or upcoming events.

Repeat: Starting from the “evaluate” step, assess the changes you made last cycle and check in on your content’s performance as a whole. 

Building a dynamic OTT platform content strategy takes time and consideration, but if you follow these steps you’ll be ahead of the game in no time. 

While you’re working on your content strategy, we can take care of the technical side of your platform. Set up a no-strings meeting today to find out what’s possible!