Why Finding Your Niche is Necessary for Building a Successful OTT Brand
When it comes to entertainment, there are hundreds of ways to watch. Over-the-top (OTT) streaming services have taken over and they continue to gain popularity during the pandemic. In a market flooded with competitors, companies should be aware of just how important their content is to their growth without overdoing it.
If you want your content to stand out, you can’t afford to do what has already been done. Industry leaders like Netflix, Hulu, Disney+ and HBO made names for themselves by doing what worked best for their own platforms — creating content that can’t be found anywhere else. Enticing viewers with what you and you alone can offer takes careful thought and consideration. But establishing your niche will help you rise above your competition in the long run.
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Carve Out Your Niche as a Successful OTT Brand
For your OTT streaming platform to succeed, you must identify the specific type of content you wish to produce and master it. Offer unique content no one has ever seen before and come up with something that is sure to leave your viewers returning for more. Consider the following to guide your platform to victory:
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Be as unique as possible. Trying to be the next Netflix won’t get you anywhere. Viewers want something from you they can’t get from anyone else. Do your research and figure out what your audience wants to see. Gather data and information from online polls, surveys and Q&A sites to understand what types of content people desire most.
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Build your audience with consistent content. You can’t create engaging content without an audience. When you know what kind of content you want to create, launch it and stick to it. You should create around 250 hours of new content and push something new on your OTT streaming platform every week to build your audience.
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Think about what makes your content stand out. Look at your competitors, see what they’re offering and do the opposite. Try not to duplicate or recreate content that has already been produced by another content creator. Original and specific content makes your company stand out above the rest because it’s never been done before, meaning your viewers won’t have to expect the same old content from just another OTT streaming platform.
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The importance of unique content
Doing what has already been done will send your OTT streaming service straight to the bottom. Coming up with new and exciting content is a guaranteed way to attract more viewers. Beyond taking a look at your competition’s content, think about the reason you’re creating content and what you want your audience to gain from it. Once you decide what niche content your company wants to produce, you can begin to master the art of personalization. Your platform should allow viewers to easily search for and find the shows they want to watch. You might consider using artificial intelligence technology to analyze customer behavior and keep their attention on your platform.
Know your audience
If you want to see your company grow, you have to familiarize yourself with your audience. Successful OTT streaming platforms know how to get the message out to their viewers. Keep your prices and barriers to watch low and ensure your quality is high.
Your company should also make its own brand known by the right brands to obtain partnerships. When you have strong partnerships with other companies, your name will spread quickly. To have the strongest standing, you should make a plan to have the right framework in place to get on every ecosystem, from iOS to Android, Roku and Fire TV.
Hybrid streaming platforms
Subscription video on demand (SVOD) is hot right now. Viewers of broadcast or other paid television use SVOD to avoid ads. Some OTT companies choose to offer a number of selections on their platforms, ranging from paid subscriptions to free content with lower video quality and ads in between videos (think Peacock’s paid vs. free options). If your platform features several ways to stream content like free vs. paid choices, you allow your viewers better access and flexibility within your streaming service.
Be smart about monetizing your content
Monetization is important for your platform to grow, but don’t prioritize it at the cost of user experience. If your company is not investing millions of dollars in launching, find the best tech partner for you and launch with them. If you carefully focus on finding your niche and creating a hybrid platform for your viewers, your brand will grow much faster.
In the OTT world, creating engaging content that is unique to your platform is how you stand out from your competition. Streaming services will only continue to rise in popularity, so be sure your company is prepared to keep up.
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