OTT Analytics Is Critical to Your Business.
As more providers enter the market, businesses must leverage OTT analytics to produce appealing content tailor-made to retain and expand their user base. To thrive, OTT service providers must offer exciting content, a simple user experience, personalization, and data and technological integration.
In the OTT streaming business, where content is accessed by different users, multiple devices, and internet connections with varying internet speeds, it’s imperative to monitor and analyze the performance of services and OTT data to tailor monetization strategies.
Table of Contents
- OTT Analytics Is Critical to Your Business
- Setplex Answers These Questions and More
OTT analytics can give a 360-degree view of the following factors, and help you:
Advertisements (such as AVOD) help the service stay profitable. But how can a service provider ensure their ads are performing optimally? OTT analytics offer the service providers an unbiased insight into how the viewers are receiving the ads. Such insights help you schedule, scale, and execute advertisement plans. OTT analytics help you populate ad slots optimally without hurting the UX.
Centralize Your Insights
Sound video analytics solutions unify all insights into one platform. A comprehensive OTT analytics platform can help avoid costly correlation engines and data discrepancies. As all departments utilize the same data, you can address silo issues, enabling access to analytics to all to measure performance in real-time, among other parameters. Also, using a single solution is cheaper than building and maintaining multiple technologies.
Identify and Build Audiences
Streaming strategy depends on usage patterns. Understanding the stay duration of users is key to perfecting the content strategy. A robust analytics solution helps you prioritize resources to fulfill user needs. For example, a smartphone may not be as data-guzzling as a smart TV. Analytics equips you to allocate resources by assessing your audience’s preferred device.
OTT analytics offer insights into audience preferences, which helps service providers create user segments based on smart data. Using OTT analytics, service providers can scale quality and deliver the experience audiences demand. For instance, service providers can separate users deemed valuable (premium) and offer them customized or higher levels of service. Service providers can also categorize users based on their device, location, or network quality.
Improve User Experience
The main reason behind users leaving a platform is a poor user experience. You can retain your user base by addressing protracted buffering, crashes, and bitrate loss, among other issues.
Boost Customer Care
Posting trained personnel to address customer queries can improve user experience. Customer care executives must have access to analytics to address customer issues without fumbling for a response. Tracing the root cause of a customer’s complaint becomes easy with insight into video analytics. Quick resolution promotes greater customer satisfaction and ensures higher retention, impacting the bottom line positively.
Video streaming analytics can help you spot viewers likely to leave and take preventive measures. Analytics can guide you toward creating optimized content and channeling your marketing efforts by segmenting your clients based on their level of engagement and experience expectations.
Identify Content That Works
Pinpointing the correct content and avoiding wasting money on unappealing content is crucial to your success. Ascertaining your audience’s taste is critical when brainstorming for content strategy. It helps you determine the genres to tap into and the delivery mechanism to adopt (for example whether to release episodes or entire seasons). Understanding language preferences and where viewers leave during an episode are also necessary.
Create Engaging Apps
Understanding the way users navigate the sections and features of your OTT app – before and after watching a video – offers deep insights into usability. Analyzing the platform’s health, including its stability and problems, is key to ensuring its availability. Combining in-app analytics with video streaming analytics helps streaming companies track and enhance experience.
Improve App Performance
A solid analytics solution analyzes videos across locations and devices to offer you actionable insight. Such meaningful insight does away with speculations and offers you critical data on your app stability and rendering quality. Armed with such data, you can finetune your app’s performance.
Setplex Answers These Questions and More
Data analytics is key to thriving in the competitive OTT space. Service providers must compile and analyze data in real-time to draw meaningful conclusions regarding their users’ preferences to tailor quality and content accordingly.
Setplex collaborates with NPAW, a powerful analytics suite for streaming services. Service providers can leverage the state-of-the-art NPAW Suite to gauge UX, using metrics like the stay duration of users, the content they stream, the devices they use, and the streaming quality they require. NPAW’s solutions help providers monitor the health of their platform, pinpoint issues, and resolve them before they affect UX. Such deep analytics pave the path for user retention (reduced churn) and a steady stream of revenue.
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