Didn’t have a chance to tune in to Episode 54 of Friday Live? Not to worry, we’ve got you covered! Check out our recap blog below for all the top highlights from the show, including an OTT industry update from Matt Given, marketing tips and tricks from Ashley Podoll, and a question of the week.
4 Reasons Cable Users Haven’t Cut the Cord Yet
Each week, Matt Given scans the web for interesting articles, newsletters, social media posts from the OTT space. This week, he covered an article from AdWeek titled, “4 Big Reasons Cable Subscribers Haven’t Cut the Cord – Yet.” There’s an interesting trend happening among today’s cable television and streaming users, often referred to as “cord-cutters.” Many consumers are cutting the cord with their cable and satellite services and making the switch over to streaming platforms instead. But here are some of the reasons subscribers are choosing to STAY with their cable providers…
- Cable Keepers Still Stream Video: 80% of people keeping their cable services are using streaming video platforms as well. Instead of completely cancelling their cable services, they’re choosing to utilize both options.
- Current Events and Sports are Retaining Cable Subscribers: Viewers often turn exclusively to cable for news and sports coverage. However, more and more OTT channels are adding both to their offerings.
- Cable Keepers Don’t Know How to Navigate a Post-Cable World: There are so many different options in the video streaming space, it can be a bit overwhelming. Some users just aren’t sure which direction to go.
- Price Matters: Of cable keepers, only half were satisfied with the price of content, relative to the service. People want to make sure they’re getting the best value for their monthly subscription.
Marketing Persona Exercise
During the “Tips and Tricks” portion of Episode 54, Ashley Podoll spoke about marketing personas, and how to learn about the audience you’re marketing and selling to. As marketers, if you identify your target personas correctly, it can significantly guide the direction and success of your marketing plan.
When building out your buyer personas, it’s important to consider four different factors:
- Demographics: How old are your customers? What’s their gender? Are they married? Do they have kids? Answers to these questions will determine how your audience makes decisions.
- Behavior: What does your audience like? What do they not like? This will help you figure out how to tailor your content towards your audience’s specific interests.
- Motivations: What are they looking to do? For example, if you’re starting a fitness offering, is your target audience looking to lose weight? Strength train? Workout at home vs. in the gym? What motivates them and why are they looking to gain from this service?
- Pain Points: What is restricting your audience? What do they fear? For example, maybe they’re nervous to participate in a new fitness class that they’ve never been to before and would feel more comfortable trying it at home.
Figuring out marketing personas is vital to the success of your marketing campaigns. Once you figure out who your target audience is, all of your campaigns will follow suit. Each of your personas will be different, and it’s important that you address each separately and uniquely. Your marketing personas will help structure everything you do!
Question of the Week
Matt and Ashley wrapped up Episode 54 with a question of the week. This week’s question was: “Should I turn on in-app purchase if I’m going to launch a new OTT channel or should I have a web purchase form to get subscribers?”
The answer is: Both! You should absolutely have in-app purchase on because any traffic that organically comes through the marketplace and finds your app, won’t take away from your marketing spend. That way, you avoid the 30% profit that Apple typically takes.
Do you have a question you’d like answered during our next episode of Friday Live? Feel free to send it to us at email@example.com.
Stay up to date on all the latest buzz in the OTT space by subscribing to Friday Live at fridaylive.intelivideo.com. Follow us on Facebook, Instagram and Twitter at @Intelivideo and look for the hashtags #FridayLive and #IVLive for questions/comments from the show. Tune into our live stream of the show every Friday at 11:00 AM MST.