Live video streaming isn’t new, but thanks to apps like Periscope, YouTube, Facebook, and Instagram, you no longer need a complicated stack of technologies to access it for day-to-day life. A smartphone and a good internet connection is all you need to stream a live video feed on these social media platforms.
However, video streaming is not just a fun activity; it has a plethora of potentials from a business point of view, too. The sphere of video streaming is evolving with each day marking something new and unique. Whether it is social media, live product launch events, or live streaming of music concerts, we have seen an array of applications until now. So what’s the next big thing in the live streaming industry?
It has to be sports!
The MO of attending live sports events has changed dramatically over the recent few years, and with the advent of online sports streaming, it is just a matter of few clicks to get instant access to live sports events. Similar to in-stadium experiences, event organizers are devising dedicated strategies for engaging fans on live-streaming platforms, too.
According to NBC, over 6.5 billion sporting events were streamed live through OTT in 2018. However, the scene for live streaming through OTT was not this common until the last couple of years. Major sports leagues were holding out, forcing viewers to remain wired to their cable subscriptions.
The tides are changing and a big wave is coming for live streaming sports in the years ahead. Increasingly, sports enthusiasts will expect to watch their favorite sports events whenever and wherever they want. With 5G’s rolling out soon, both sports broadcasters and viewers will have new experiences to create and enjoy the content. If you want to learn about the significance of starting sport live streaming, you are in the right place.
Let’s understand the live sports trends, their impact in the industry and how to explore excellent business opportunities it has to offer.
Value of Video Potential in 2019
Video continues to be the most effective element in marketing strategies for a good reason. People find videos more entertaining, engaging, and memorable. Hence, they are more popular compared to other types of content on the internet. Videos offer a sense of storytelling and if you want to increase conversion, video marketing is the best way to go for it.
Let’s explore some more valuable statistics to prove the power of using video in increasing brand awareness.
Videos attract 300% more traffic and help to nurture leads.
A website is 50 times more likely to make it to the front page of Google if it includes videos.
Including a video on your landing page can boost your conversion rate by at least 80%
Over 50% of customers check out the product or service videos before visiting a store.
Videos have the capability to improve organic search on a website by 157%.
25% of brands publish videos every week.
Different Types of Videos Every Business Must Have to Thrive
There are different types of videos you can create for your business. From how-to videos to explainers, Q & A, and case studies – the options are practically endless. Additionally, for every type of video you want to create, there are different styles you can approach it from different orientations. Here are some of the video types you must include meeting the different needs of your customers.
Explainer videos work great if you want to educate your customers about your products and services, and illustrate why they need it. Product explainer videos are a useful for explaining the working of complicated products or services and enhancing positive brand awareness. They are a high-level outlook on how particular products or services solve a customer issue. These videos have the potential to be shareable content assets, so aim to make them more engaging by connecting with viewers on a deeper level.
If you want to create brand awareness, increase traffic to a specific landing page, and generate leads, focus on creating teaser or highlight videos. Most businesses follow text-based content marketing to achieve the above-discussed elements. However, if you are into video marketing, create fun videos to promote more downloads. This works great for big events and conferences. When finding new content for videos, consider highlighting the bigger story you can pack in these.
Leadership videos are great to build thought leadership within your business or industry. It helps to establish a human connection and to share a unique perspective to build trust and user following. Leadership videos must be authentic and should focus on a specific point. Sharing the experience of professionals and starting a conversation with your target audience is the key.
Webinars are good to educate potential customers about products and about the issues that exist in the industry. When planning new webinars, think about how to repurpose the old videos you have. Design your webinar in such a way that bite-sized video clips can be included in that.
Live Streaming Video Business Opportunities
Live streaming hasn’t been with us for long, but it is quickly gaining significance and attention among people and brands who are looking for innovative ways to deliver content to the audience. Live streaming is a powerful channel to deliver content to your viewers if you are planning about starting a sports business. As with any other marketing channels, it comes with its own challenges. However, the challenges offered by live streaming dominates the benefits it offers. Besides the benefits, live streaming offers a sense of excitement for viewers. It makes the audience feel exclusive and inclusive at the same time.
Viewers Consume Videos on Your Time
The biggest advantage of live streaming for businesses is that the audience consumes content on your time, not on their time. This implies that you are engaging with the audience who care about your brand and find your video content extremely beneficial. You are automatically targeting content at an audience that is more likely to follow and convert. No other tool is capable of achieving what live streaming does.
Reach Highly Targeted Niches
As already said, viewing a live stream needs more commitment from your followers just because they have to tune in on your time regardless of whether it’s the right time for you. This helps to keep the unrelated audiences away and reach a highly targeted audience without any additional efforts.
Takes Less Time to Implement
Implementing live stream takes less time as it just takes a button click. Unlike traditional video production like vlogs or shows, it exactly takes 5 minutes to create a 5-minute video. That’s it. However, if you are not using social media platforms to live steam, it takes a one-time effort to make a video sharing website and you will be ready to live stream anytime, anywhere.
Grow Your Audience
Maybe the best thing about live streaming is that, you can grow your audience surpassing the geographical limits. The larger your audience is; the more chance you get to convert them into customers. If you want to implement live streaming solution for sports, it will help to expand your follower base considerably.
One of the major reasons why live streaming is continuously making an impact on marketing is due to its ability to offer real-time user engagement and join direct communication with the influencer. Whenever you see a pre-reordered video, you are viewing the work of the past. However, live streaming facilitates real-time engagement benefits for users as it happens in the now. Not just real-time engagement, it also provides the opportunity to offer Q&A sessions, live support, and a lot more. You can effectively convey your brand’s story in real-time.
Ability To Repurpose Content
Though this point applies to any type of content, live videos can also be easily converted to other types of content such as a published video transcript on your website or as a reproduced video on YouTube. The options are limitless. Whatever is the case, it is always recommended to repurpose content for a broader reach of your brand message.
A Great Way To Cultivate Trust
Live streaming is surprisingly beneficial to create a close bond with your target audience. As you will be talking with your viewers in the most natural and real way, they feel as if they are being part of authentic interaction. Yes! Even authentic than pre-recorded and edited videos, which are well scripted. Businesses can increase trustworthiness with the help of live streaming, which leads to a great influence across the social space and helps in better conversion when promoting products and services. This will also have a direct impact on customer retention and loyalty, allowing the delivery of high-quality content immediately.
Facilitates High-Quality Content Delivery
Considering the nature of live streaming videos in general, it helps businesses to deliver the best quality content to their viewers in a convenient way. Be it news, product releases, business events, live streams bring them to the attention of followers instantaneously. Brands can also run product promotions through live streaming and offer exclusive access to viewers for a limited time- a very effective way to increase conversions and revenue. The sense of urgency created by live streaming makes it compelling to watch, making it ideal for the flash sales of products and services.
Plenty of Opportunities For Monetization
For businesses that focus on generating income from websites and social channels, live streaming unveils some great monetization opportunities to monetize live sports events.
Some of the best strategies to monetize live streaming are as follows.
– Charging viewers for exclusive access to webinars
-Offering paid product reviews and getting sponsorships
-Driving traffic to your existing website or affiliate offer
-Insert Ads in the live streaming broadcast
-Selling your own products
-Selling the entire broadcast to other publishers.
Better Brand Exposure
Live streaming solution for sports is not just about highlighting your brand in front of your potential customers; you actually get a chance to educate your audience about your brand and the services you offer. This manages to bring some amazing opportunities that can be very rewarding at the end. It helps to promote your business like never before with an outcome much appreciated.
Why Video Streaming is Important
Video streaming services have changed the way people consume sports events and it is for the better. Here are some of the benefits of video streaming.
Whether it is sports videos or any other videos in general, video streaming allows instant playback. Compared to the old days when people had to tune to into TV alone to watch shows and sports events, online streaming makes the content available in real-time and can be accessed by viewers regardless of their location.
Given that there is no additional cost involved when choosing the delivery medium, videos can be cheaply distributed over the web. Even if some exclusive videos are offered for a price, it is much cheaper when compared to the other entertainment channels. Learning how to stream sports online can be of great significance as it is one of the affordable marketing tools.
More Options To Explore
With video-on-demand platforms like YouTube, Netflix, and Hulu, today’s audience has a broad range of options when it comes to the choice of online video content. Earlier if you wanted to watch the shows, you had to purchase or buy DVDs. It was required to watch what you have rented or purchased completely but now it is very easy to preview a show and decide whether to watch it or not, without having to pay extra costs. If you looking for how to start a sports website, ensure that incorporate similar features to make it easier for viewers to choose content.
Make Event Coverage Easier
These days, social media platforms like Instagram or Facebook is used to live stream, as it is easy for brands to broadcast their events without having to pay anything extra. This very significant technology helps to make event coverages easier than ever. You can also start a sports business online to make event coverages easier.
Discourages Content Piracy
The creative video industry has been suffering from piracy issues for a very long time. Many new solutions to combat piracy issues are enforced by brands, but affordability was always a problem. However, online video streaming makes entertainment very convenient and affordable. For the same reason, viewers prefer to subscribe to video streaming websites than watching pirated copies of videos and media. Hence if you are looking for different ways on how to start a sports website, now is the right time as the industry is thriving.
What You Need To Know About OTT Networks
Over the top or OTT is the term used for the delivery of TV and film content via the internet. Traditionally viewers were required to subscribe to a traditional cable network to watch favorite shows and movies at home. However, with the emergence of OTT platforms like YouTube, and Netflix, it changed how people consume entertainment.
Popular video streaming services made it possible to deliver video service over the top of the Internet rather than through expensive broadcasters and telecom providers. That is why it is significant to create a website like YouTube, Netflix, ESPN, or Twitch if you are into content production or event organization.
How Do OTT Platforms Deliver Content to Viewers?
In general, OTT platforms use an online video platform or back-end, which typically handles all the media, subscriptions, users, security and rights, etc. of the platform. The back-end is what communicates with different customer devices. The most common hardware devices used for the stream are streaming boxes or TV followed by smart TVs and internet-connected gaming consoles.
There are several development challenges involved to deliver your content to every device because each device comes with its own development stacks to create apps. A good video-sharing CMS will help to run your own video blog and it comes with additional features like SEO optimization, inbuilt security, tracking system, and a lot more.
What are the Biggest OTT Opportunities?
With video streaming services on the rise globally, OTT technology has immense potential with brands like YouTube and Netflix expanding internationally. Beyond global adoption rates, major opportunities exist in both entertainment and non-entertainment markets. Recent surveys show that over 50% of OTT subscribers pay for educational content in the form of instructional streaming platforms. Streams that focus on health-based content and children’s programming hold a lot of potentials.
OTT platforms must also consider the advantages of tired monetization. Even though most OTT solutions are subscription-based, over 20% of subscribers also made in-app purchases last year. If you plan to start a sports business online, casting a couple of monetization methods can help your OTT solution to grow in the years ahead.
With that said, as the OTT sector has moved towards live programming, sports have also become an increasingly significant part of it. The arrival of online video content without the addition of sports was a big thing several years ago. However, today we are seeing the insertion of sports into the mix by major OTT providers. With cloud-based live sports streaming software now capable of handling live content day in and out, there is an increasing amount of interest shown in carrying live events. We are currently seeing the growing trends for sports brands to go OTT themselves to reach their audience is also being a clear indicator of changing TV viewing habits.
When it comes to established OTT players, while Netflix denies taking any interest, Amazon is rapidly becoming a major force in sports. This itself is showing the NFL’s Thursday Night Football on both Prime and its Twitch subsidiary. Twitch is already a leader in the broadcast of game live streaming and eSports competitions.
If you are thinking about how to make a sports streaming website, now is the right time to enter the market with your sports streaming platform. The opportunity has never been greater with cloud-based technology helping sports brands and organizations to launch new OTT services directly targeting customers at a greater speed and much lower cost than just a few years ago.
E-sport Trends in the Video Streaming Industry
A new era of sports viewing is here and sports media companies are focused on delivering what customers really want- High quality and a reliable live stream of their favorite sports events. If you want to learn about how to stream sports online, understanding top industry trends can help.
Let’s see some of the current e-sports trends in the video streaming market.
Viewers Willing to Pay for Streaming
Sports fans are ready to spend money on a sport-streaming website than watching it on TV networks. On average, fans are ready to pay around $23 per month for unlimited access to live sports on any platform. With that said, the majority of sports fans prefer interactive content that offers the ability to chat with other fans while watching live sports.
More Focus on Latency
Earlier, the negative effects of latency used to affect the quality of live streams. Imagine you are watching a major game online and there is a lag in audio and video synchronization, which will ruin the whole viewing experience. Even as online streaming continues to grow in popularity, there are cases of broadcast feeds arriving a couple of seconds before the online feeds which are becoming a great problem. For the same reason, solving latency issues is one of the hit industry trends for 2019. Many digital media brands use the best sports streaming software integrated with CDN to offer a great viewing experience to the audience without any lags.
Solving Piracy Issues
While the shift to OTT is great, it also increases the danger of piracy. Researches shows over 50 unique illegal streamers were active during the UEFA Champions League knockout stages. Brands are increasingly becoming aware of the piracy threats and started to offer security features to streamers. In the coming years, we will see active collaboration between content owners and content protection technology brands to maintain the value of sports content by combating piracy threats.
Live Interviews With Athletes
Sport streaming websites facilitate real-time communication with sportsmen and women to increase fan engagement at sports events. An opportunity to meet their favorite sports star is enough to encourage most fans to attend more games and tournaments. Live experiences or being in the moment is just as significant as engaging with the game itself. If you are thinking about starting a sports business, ensure you incorporate live sessions with popular sports stars.
It’s encouraging to see how technology is influencing live streaming space as more platforms enter the industry. OTT grows in popularity among audiences, and brands are seeking innovative ways to ensure that regulatory measures are being met. However, what it ultimately comes down to is the ability to deliver the best possible experience to viewers. A professional live sports streaming software can help you deliver top-quality streaming services to your audience.
If you are a sports enthusiast wishing to build your own sports live stream setup, contact us for robust live sports streaming services with custom application development.
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Video has become popular among the rising generation. Go through your social feeds, chances are most of the posts would be videos. Indeed, videos on Facebook alone have over 8 million average views. Why is it so? What is the reason for the rising popularity of videos?
In essence, the video combines the two mediums to catch viewers’ attention- visuals and audio. Opposed to text alone, combining both audio and visuals helps in conveying a message more effectively. The human brain loves videos because is it is wired to grasp visual content between pages loaded with texts.
Best Plans To Video Marketing Strategy
Whether you want to create a video sharing website like YouTube or just looking for ways to increase your existing ROIs, a well-defined video marketing strategy is necessary. While on a fundamental level, videos are important, but you need an efficient marketing strategy to take it to the next level.
So how to launch a video marketing strategy to bring more engagement and better results?
Start with the following.
Understand Your Audience and Set the Goals
Every marketing campaign must start with research. You must begin by defining your target audience. What type of content they are interested in, what challenges they engage the most? There is absolutely no point in making great videos and having it on platforms your viewers don’t visit?
Additionally, define the goals you are trying to achieve with a particular content. Do you want to drive traffic, sales, create some awareness, or achieve them all? To capitalize on your video’s ability to improve ROI and connect with your viewers, use the right tone and message to reach them. It is important to gather customer insights to know the type of videos to focus on and how much money you must spend in creating them.
Stick to a Realistic Budget
Most people make the mistake of assuming that putting in a lot of money into creating videos can make it successful. That is not the case always. When it comes to creating videos, set realistic campaign goals and define the budget. For example, spending a lot on short videos on social media is not a good idea. Instead, if you consider a captivating audience from a competitive niche, planning for a high budget makes sense.
Optimize Your Videos For Each Channel
Depending on the channel you pick to launch your videos on, you have to optimize them to drive engagements as per native prospects of the channel. For Instagram, upload short videos directly. However, if you are creating for YouTube, you have to focus on creating high-quality videos that are refined to your target audience. Whereas video optimization for Twitter is all about finding the balance between using the right keywords and fine-tune targeting.
How to Sell Video Content Online?
Have you been consistently creating video content, but not having luck with generating revenue in spite of having huge earning potentials? Selling videos online has come a long way in the past decade. The market has shifted from selling DVDs to on-demand, and now, live streaming. Like any other sales challenge, selling videos online is all about the right combination of good content, great marketing, understanding your target audience in-depth and more.
Here is a comprehensive guide on how to sell video content online and some tips for success.
Effective tips to sell your video content online
Some people assume that improving ROI with video content is just about having great content. Yes, good videos sell themselves, but that is not just enough and is not true for all niches. Let’s have a look at some of the best tips to sell your video content.
Create Content Worth Selling
Most people create low quality, duplicate content and upload it to any platform, and then worry about not being able to make any money. It is not just enough to create a website like YouTube and upload as many videos to generate revenue. To make a good amount of money from your videos, it has to be good. You must put in your creativity and talent to come with a masterpiece that is worth selling. Keep in mind that any money generating strategy takes a significant amount of time. Make sure you choose the most marketable content, style, and present it in the best way possible to the audience.
Upload and Organize Your Videos
Once you have your videos ready, the next step is to upload them to video-sharing platforms of your choice. You can upload your videos to sites like YouTube, but these platforms take complete control in terms of publishing a video and they hold the right to take down your videos without any prior notice. Alternatively, you can also create video sharing websites like YouTube of your own and upload your video content there.
When uploading videos to your platform, content organization is important to ensure maximum engagement with the audience. You can create a similar menu to help you categorize your videos into the right groups. You can use the best open-source video CMS platform to keep your videos well organized and to schedule content automatically for delivering a quality experience to the viewers.
Promote Your Videos
Make it a habit to promote your videos through social media channels to reach a wide audience. You can also live stream to announce the launch with the right strategies that focus on your target audience. You can also use platforms like YouTube to bring in a great amount of traffic to your website. Reach out to your audience via emails and alert them about your new videos and product launch.
Sell Video Content Online
Video broadcasters can earn by offering on-demand video content and by live streaming to viewers. In either way, you must implement efficient business models to make a significant amount of money. Here are some of the business models to follow.
Pay per view is an effective business model to sell your videos online. You can set a fixed price for your content and viewers have to pay the same to watch your videos. If you want to offer your audience various choices to access your videos, you can create multiple pay-per-view price options. For example, you can set a $5 price for 1-hour of access and set another price of $30 for full-day access, etc.
If you want to create a website like YouTube, you need not exactly follow the business model that they follow. Instead, you can limit the access of your videos to your audience via a subscription. Subscriptions can be weekly, monthly, quarterly, or yearly. This model works great when you have ongoing content to offer to your viewers, like a series or episodic content.
The advertisement model is the primary YouTube business model using which YouTube makes most of its revenue. If you want to create a video sharing website like YouTube and offer free content, but still make money, this model is the right pick. Ad-model offers free videos, but advertisements will have inserted in between free videos. Video owners earn money from sponsors who want to promote their Ads. However, you must have a popular video sharing platform with a consistent user base to make money with the Ad-based model. It works only when you have a massive user base as YouTube has.
Business Benefits of Creating a Video Sharing Website
Video marketing is one of the newest additions to your marketing toolbox. It is worth considering promoting your business via videos. Not because everyone is doing it, but because videos are one of the most versatile and profitable digital marketing tools today. Advancements in technology, social networking tools, and development of video sharing CMS have made the display and distribution of video easier.
Having a video sharing website calls for a video marketing strategy that can benefit your business in multiple ways and differentiate you from your competitors. Here are some benefits video sharing websites can bring in to your business.
Videos can make business communication a lot more powerful and effective. Doing product demonstrations through videos can have a great impact on training, marketing, and sales. Once the videos are ready and uploaded on your website, you can easily share them.
Social media is growing alongside video. Over half of the global population uses social media and the numbers are only rising. As reported by various sources, social videos have a high share rate compared to text and video combined. Make sure that you offer educational or fact-based videos to your audience along with entertainment to drive engagement. It is also vital to create content that resonates with your viewers’ choices.
Boosts Email Campaigns
When you are creating videos, ensure that you incorporate it into your email marketing campaigns. It has been seen that an introductory email with a video in it increases click-through rate by 96%. The modern customers want to see the product in action. Due to the ease of consumption, video engages even the laziest buyers.
Google Love Videos
Videos help to increase the time spent by visitors on your website. This kind of longer exposures increases trust and signals search engines that your site has great content. If you have a video embedded on your website, you are 50 times more likely to show up first in search results. Make sure to optimize your videos on your website for SEO. Give catchy titles and clear descriptions. Add a link back to your site, products, and services. Explore the world of interactive videos to encourage engagements even more.
Video Doesn’t Have to be on a Film Studio Budget or Schedule
We all know that video marketing is an integral part to improve ROI, but how easy is it to create high-quality videos? Creating great videos on a budget is a significant challenge to tackle. However, there are effective ways to create top-quality videos without having a high budget or a schedule.
Invest in the Basics
If you are a content creator who plans to shoot many videos, invest in a good quality video gear like a digital camera, microphone, tripod, and lighting kit. Being a long-term investment, it is important to adhere to this if you are planning to film videos on your own. If you want to create business videos for your company, you can also collaborate with professional content creators to come up with quality videos. Using your smartphones to shoot videos is also a great idea to start with, but you should consider upgrading your MO as you grow.
Keep Your Videos Short
Viewers, in general, have limited patience and attention span. If you want to drive maximum engagement for your videos, make sure it doesn’t exceed 2 minutes. Make your script as short as possible and ensure you take down unnecessary bits during editing. This not only helps to keep your viewers engaged, but it also reduces the cost if you are hiring a designer to edit your videos.
Create a Video Strategy
If you want to create videos on a minimum budget, you must have an efficient video strategy. This helps you to reduce additional costs by driving your focus in the right direction. Having a video marketing strategy can help you create more high-quality videos. Some important aspects of an effective video strategy are as follows.
Ideal target audience
Objectives to share videos online
The frequency of uploading videos.
The type of content required as per your objectives
How video sharing scripts can help video content?
A few years ago, the answer to the question ‘how to make a website like YouTube without coding‘, was near to impossible. However, today, technology has practically made it possible. Launching a video sharing website is no more a difficult task, thanks to ready-made video sharing scripts.
Video sharing scripts are ready-made clone scripts that help you to launch your video streaming business and the website instantly. However, not all video-sharing website scripts are competent to fulfill your needs. You must go for a white-labeled solution to acquire full-fledged features and the ability to customize the script so that it matches your brand identity and expectations. Let’s see what you can achieve with video sharing scripts these days.
Create Video Sharing Websites
If you are a content creator or a business trying to achieve from more than what YouTube or Vimeo can offer, you need to build your video sharing website. Video sharing scripts can build clones of popular video sharing websites like YouTube, Twitch, Daily Motion, or Vimeo. If you want to start a website like YouTube in a cost-effective way, there are no better ways than video scripts. With your video-sharing website, you can incorporate an advertisement model, subscription model, transactional model, or a combination of all three to monetize extra.
Enterprise Video Content Management
Businesses can utilize videos for promotions, Ads, brand education, tutorials, customer support, and for a lot more. The challenge is to organize the videos systematically and a video CMS helps with that.
Public video sharing platforms like YouTube doesn’t allow you to classify proprietary videos to avoid unintentional distribution with an unauthorized audience, which is critical for enterprises. That is why you must have your own open-source video CMS to utilize video categorization, scheduling, having access control at multiple levels, authorized distribution, etc.
If you are a video creator, you must have goals beyond video sharing. You might be looking for answers to questions like how to sell video content online. Websites like YouTube and Daily Motion are the best platforms to start with. However, if you are already on these channels, you know Ad-monetization is not enough to build a stable career of your own. Having a video sharing platform of your own will allow you to formulate your policies and this will, in turn, bring in more revenue.
Video sharing scripts also offer live streaming solutions to incorporate the endless benefits of real-time videos in your business. Businesses can use live streams to interconnect and inter-promote their platforms. Moreover, it also offers a broad range of benefits like growing your audience, reduces training costs, increases ROI, improves audience interaction, makes sales better, etc.
How to Measure the Success of Your Video Content?
Now that you know how to establish the best video marketing strategy for your business, you need to measure the success of your video content campaigns. Before you get into the metrics, you need to define success that will allow you to do the right analysis of the success of your videos. List down what you are trying to achieve. Sharpen your focus to one goal at a time and determine the type of audience to whom you will be addressing the videos.
Here are some of the important metrics you must measure to know how successful your videos are.
Views to Know the Scope of Your Influence
Views for your videos are the most important metrics you need to measure to know the scope of your influence. The number of times your videos have been watched tells about to extent to which you reached among your target audience. However, don’t analyze the number of views as the ultimate element of success as it is the shallowest indication of your campaigns. Views represent the first step of the whole process of measuring the success of your videos. Besides, when you first create a video sharing website like YouTube, it takes some time to generate a desirable number of views with your new website. The quality of the content contributes to an increased number of views.
Engagement to Measure Quality
Have a look at the engagement you get from your target audience to measure the quality of your videos. When you make a website like YouTube, keep a check on the quality of the videos uploaded to the site as engagement is linked directly to the quality and uniqueness of the content. Engagement goes beyond the view count, a good engagement for your video shows how successful your videos are in reaching and connecting with your audience. This also shows that whether your videos can deliver the message you want to convey.
Play Rate to Assess the Relevance
Having your videos embedded on your site using the best video sharing CMS contributes to improvement on two major metrics simultaneously- play count and page views. Play rate of videos is a blend of these two metrics and shows the number of people who visited your website and watched your videos. Play rates help to understand the type of content that gets more responses from the audience. It is also a good indicator of the ideal location of videos on your site. It gives a clear idea of whether your videos are in the right place to invite attention. This metric helps to gain insights that assist in making structural changes to your website for engaging the viewers into pre-designed call-to-actions, too.
Shares to Evaluate Social Impact
Create a YouTube-like website to upload and share your content, which can have a great impact on your social engagement. The number of people sharing your videos can say a lot about its ability to reach and connect with viewers. Shareability is a quality to incorporate in your content because it multiplies your marketing efforts and increases views significantly, which in turn have a positive influence on your ROI.
CTR to Measure Client Reactions
Click-through-rate or CTR shows the percentage of viewers who click on the call-to-action that you have incorporated your videos. If you are planning to create a YouTube-like website, CTR is something that you have to consider to analyze the ability of engagements in your videos. Having a high CTR indicates that you were successful in making your audience watch your videos until a call-to-action showed up.
Analyzing your video content from the CTR angle is critical to measure their power to generate sales and conversions. If you see, despite more people watching your videos, the number of sales doesn’t go up, understand that you must change the location of your CTA.
Conversion Rate to Measure Success
Conversation rate is arguably the most significant metric of all, especially if you are looking to measure the success of your video content. Conversion rate measures the total number of leads or customers your video was able to gain. However, it is one of the most difficult metrics to evaluate and you need resources like Google Analytics to measure it right. The important step is to define the meaning of conversions to you. For example, it can be a visitor clicking on a thumbnail, downloading something, filling out a form, or even buying your products.
Today, more than ever, content creators and brands are realizing the business benefits of video content. With the myriad of content choices and ways to create video sharing websites like YouTube, videos have become a core way to drive engagement and brand awareness. Content owners with a vast library of videos must move beyond the Ad-supported video platforms and build their own business models to improve ROI with original video content. Create a video sharing website of your own using the best open source video CMS platform and feature your content to generate untapped revenue, rather than dealing with the limitations of third-party platforms.
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How many times have you watched a video and seen a product that instantly caught your eye? And then you proceed to the description to find the product link. You are not alone. Now imagine the ability to click on a product, add to the cart, and checkout- all within a video or after the video. This is the value proposition that drives the concept of shoppable video.
What is Shoppable Video?
A shoppable video is a multimedia recording that allows users to initiate a purchase from the video. More advanced versions of shoppable videos allow you to directly make a purchase from the video window itself. Whereas, in a non-interactive video, the URL of the product link is displayed instead of a clickable action. Shoppable videos are a type of interactive video.
How Does It Work?
Shoppable videos are the right blend of commerce and content. A shoppable video content removes the gap between the content and the underlying buying process. Creating an impressive content is very important as it ensures people are watching your full video and not miss the products displayed in between.
Features like Hulu’s shoppable previews allow the on-demand audience to buy movie tickets with just their remotes. This is a practical tool that simplifies the whole process into instant sales.
As technology keeps advancing, more interactive elements and shoppability will be integrated into the viewer’s favorite movies and TV shows on OTT platforms. Shoppable videos are a perfect way to help shoppers make purchase decisions. Ultimately, leading to a significant boost in sales. The audience is looking for more engaging and interactive content from their favorite brands. You can incorporate shoppable content into your OTT platform and leverage the most potential revenue stream. For launching your OTT platform, you can use ready-made solutions to stream your video content.
Brands are looking for ways to reduce the gap between marketing and purchasing. Shoppable videos are able to achieve both. It helps to build a personal link between a customer and products to increase customer engagement. Most importantly, this shortens the customer decision making a path to boost your sales.
Benefits of Shoppable Videos
There are many benefits associated with shoppable videos and marketing products on an OTT platform. Some of them are:
Simplified Buying Funnel
The video content becomes instantly shoppable and this simplifies the buying funnel.
Increased Customer Engagement
Shoppable videos have increased customer engagement and offer optimum ROI. They are one of the perfect ways to increase user engagement, conversion rate and to decrease shopping cart abandonment rates.
Invaluable Performance Insights
Most OTT platforms, offering shoppable videos also gather significant real-time performance data. This data allows businesses to find out the best performing elements of their campaigns. Ultimately, it helps to get more potential customers.
Top strategies to launch successful shoppable videos
Here are the top strategies that OTT services must implement in their platform to launch successful shoppable videos.
Incorporate Shopping Into The Viewer’s Experience
People are inspired by the products in the videos they watch. However, there is no easy way to direct customers into the buying process. OTT platforms can shorten the search and buying cycle and make the shopping experience seamless with convenient shoppable videos. For the same reasons, most customers are more likely to become open to shoppable videos as a part of their regular viewing experience.
Craft a Less Intrusive Experience
Shoppable videos improve the viewing experience. However, if not designed in the right way, they might just not give the desired results. Today, most videos add dots to indicate the interactive element. However, OTT providers must design a less intrusive experience to notify viewers about shoppable elements in the videos they are watching. The cues can either appear in the opening part or during the end credits, which can be switched on or off as required.
Create Branded Content In A Measurable Way
Branded content is a new emergence in OTT programming and live streaming platforms. Brands are subtle when it comes to product placement in videos, but this just provides brand impression data. However, with shoppable videos, content owners can track click-to-view, click-to-buy, and click-to-share interactions, and ultimately will get a clear view of conversion data.
Branded content within a movie or TV show allow the audience to either seek more info about the product onscreen or click-to-buy. This may transform the way brands and content owners monetize using this Ad format.
Don’t Overdo Interactivity
Interactive OTT opens up plenty of opportunities to offer customers with everything from general entertainment to super-niche offers. It activates new revenue streams like shoppable videos, non-intrusive sponsorships, and individually targeted advertising.
There is no better time to convert a visitor when they are enjoying a well-crafted content. Whether it’s a shoppable show, or purchasing products from a favorite artist, or ability to donate to your favorite filmmaker, any video commerce is easy to use and frictionless. Most importantly, it must never get in the way of content, but must be able to enhance and convert it.
For OTT players, customer acquisition and retention is a major challenge. Revenue models that are subscription-based, ad-centric or a combination of both only offer a sustainable business model to a certain extent. Shoppable videos give a completely new revenue stream potential that also helps to differentiate OTT service offerings in the midst of tight competitions.
By adding commerce and interactive elements, OTT and live streaming platforms can explore the measurable impact of shoppable videos in their sales. Shoppable videos can link directly to the point of purchase, allowing OTT platforms to go beyond general advertising.
Moreover, advertisers can get some additional ways to market their products and uncover user buying preferences, all with the trackable conversions and data they desire. The possibilities with shoppable video commerce can be endless.
The old concept of prime time has changed over time. Viewers today have a vast catalog of content to choose from, and there are certainly more places to watch the content, too.
The viewership of traditional TV is falling apart as the OTT platform is offering high-level customization to the content browsing experience. OTT refers to over-the-top devices that use the internet instead of traditional cable TV to broadcast and watch TV content.
In 2019 alone, there are over 182 million OTT subscribers in the US. In this article, we are going to discuss eight powerful trends that have influenced the growth of video streaming. From cutting-edge business models to sophisticated video streaming technologies, we will talk about everything responsible for bringing OTT to the masses.
Hybrid Monetization Tools
A prerequisite for sustaining an OTT platform is to generate a significant amount of revenue. There are mainly three monetization models that OTT streaming operates on: Advertising model, subscription video-on-demand model, and transactional video-on-demand model.
YouTube, one of the biggest OTT platforms works on an advertising revenue model. General YouTube users are ready to wait patiently for the Ads to finish before they can watch their favorite video. However, the advertisement model is not suitable for most new players as they don’t have a stable subscriber base to drive this model by volumes.
The subscription model is offered by major OTT platforms like Amazon Prime and Netflix where users pay a fixed subscription fee to access unlimited content available on the platforms. The major advantage of a subscription on-demand model is that it is convenient to use and you can unsubscribe whenever you want. Transactional on-demand model, on the other hand, offers a broader viewing experience by allowing users to down the content of their choice and pay a single time fee to watch the content of their choice.
Unlike the advertising and subscription model, the transactional on-demand model does not rely on volumes. Now, live streaming platforms have begun to experiment with hybrid content monetization models and are leveraging multiple opportunities as users are willing to pay for premium content.
Increasing Demand For Originals
Netflix changed the game by rolling out House of cards, its first original web television series. The streaming giant has put more emphasis on its programs over the last few years with over 100 Netflix originals. Orange is the new black, American Vandal, Stranger things, Russian doll, Master of none, are some of the popular Netflix originals loved by the audience. Millennials and the new-gen audience are preferring VOD streaming platforms because of the exclusive original content.
Mobile Surpassing TV as a Primary Content Consumption Medium
Not everyone today watches TV shows on a conventional TV screen. People prefer to watch TV shows and movies on the go on mobiles and tablets. Mobile is emerging as a dominant content consumption channel. For example, a viewer who watches Game of Thrones in his TV screen while at home, whereas streams content directly from mobile devices while traveling.
AI to Make Streaming Better
The OTT industry is expected to leverage the power of artificial intelligence through recommendation engines. The recommendation engine is nothing but an AI-driven extension that keeps a tab on user activities and recommends customized content to subscribers. This offers your subscribers with a personalized viewing experience curated by a combination of user behaviors like content browsing trend, viewing pattern, when they prefer to watch, preference of genre, etc.
The Growth Of Niche Services
For the past decade, the OTT market has been dominated by giants like Amazon Prime, Netflix, and soon Apple and Disney will enter the scene. Recently it’s been clear that there is a real opportunity for a niche video content market. Niche platforms are ultra-specialized video-on-demand platforms that directly aim for a targeted audience. They offer independent cinema, niche sports, documentaries, fashion, luxury, children’s animated content, and Auteur cinema, etc. Niche platforms bring together active customers of similar interests around the content that excites them. Be advised that consistency and regular renewal are the keys to success for niche services if you are planning on launching your OTT Platform.
Content Goes Hand in Hand With Distribution
The OTT platforms not only focus on the content but also on the distribution side. Those who benefit from the widest distribution will have better chances of winning the stream services competition. For example, Apple plans to launch its own streaming services during fall 2019. Even if it is late to the scene, it can count on its 1.4 billion devices that are already in the market and one its final resources with avid support of Hollywood studios.
Similarly, AT&T relies on its network of subscribers to promote its warner media services that merge the HBO channel with the turner channels. To establish in the market for long term and to consolidate the business, distribution is an important aspect for OTT platforms.
The Cloud Revolution
Till a few years back, OTT VOD streaming was a risky affair, but thanks to the cloud revolution, new opportunities arise as cloud simplifies workflows, reduces maintenance, and seeds funding. The development of cloud solutions significantly lowered the costs associated with technical implementation. With that said, now just a 2k subscriber base is sufficient enough to cover the technical costs. This also allows broadcasters to reduce the costs and improve efficiency to a greater level. OTT platforms can be launched and grown quickly without compromising the service quality.
Being Interactive With Augmented Reality and Virtual Reality
Augmented reality and virtual reality have slowly started getting into OTT platforms and have the potential to become a new way of entertainment and engagement. In the future, we will see more live streaming platforms and OTT services depending on hardware manufacturers for the distribution of VR devices as a part of their service.
One of the most important content segments for OTT is sports, which when combined with AR and VR will increase views. Imagine being able to watch a sports event in VR as if sitting in the stadium. VR is expected to offer an immersive experience that will elevate the brand engagement.
To build your own OTT business, you need not have to invest too much. You can build your own OTT platform and stream videos using VOD streaming softwarein an affordable manner. Once the platform is ready, prepare a marketing strategy and focus on branding and promotions. As more people shift to online channels and more businesses join forces in many different ways, the challenge is to identify the opportunities to attract customers and maximize revenue. Taken as a whole, these popular trends affect the OTT ecosystems in significant ways. Where some business players see maturing the market, others see fresh opportunities in these emerging trends to transform their services based on the industry standards.