In a February USA Today article, it was reported that, “nearly all (86%) of online video subscribers say they anticipate keeping or increasing their number of subscriptions in 2021.” When we look at the data within the Resonate Ignite Platform™, we see that over 80% of Americans subscribe to at least one of the following streaming subscriptions: Amazon Prime, Disney+, HBO, Hulu, Netflix, or Pluto. Streaming is continuing to skyrocket (of course, being stuck at home due to the pandemic didn’t hurt matters).
Want to learn more on the current state of streaming? Download our State of OTT report for a look at cord cutters, the future of streaming, and more.
With growing audience numbers and the fact that 50% of streaming viewers have discretionary income over $30,000 annually, the competition is fierce for advertising dollars. Media companies are facing a challenge: how can they stay relevant for viewers and show potential advertisers that they have the pulse on who their audience is and what they’ll buy? They key to optimizing streaming ad revenue lies in connecting to targeted audience research, fresh data, and using those insights to continuously optimize. Here are three ways Resonate customers are ahead of the curve in boosting their streaming ad revenue.
1. Show advertisers that your audience is also their audience.
One media company worked with Resonate to show advertisers strategic insights and actionable data on their audience. When pitching ad space to a car company, they built highly nuanced, targeted audiences to demonstrate where that car company’s customers and prospects overlapped with audience. This precise data and targeting, available in the Ignite Platform, to back up ad buys led to an 80% renewal rate among advertisers and increased annual digital revenue by more than 20%.
2. Stay relevant with the freshest data on target audiences.
They saw viewers were 288% more likely to watch TV on their phone than the average consumer — a data point likely tied to the fact this audience was more likely to be a female Gen Z viewer tuning in to YouTube. As this network said, ” “not all video views are created equal.” Some are more monetizable than others and when you know where those views are happening in real-time, it gives advertisers a measurable incentive to buy time and space on your channels.
3. Continuously optimize streaming ad revenue through content distribution.
Keeping viewers interested and showing them relevant advertising relies on telling the right story to the right audience at the right time. A major network aiming to connect with advertisers and take advantage of legacy content looked at the audience for one of their shows to determine where they were watching and when. The network uses their own first party data, enriched with Resonate’s 13,000 attributes, to see exactly where their individual users overlap in content consumption. They could see where their audiences watched shows first on traditional TV and then shifted to re-watching or catching up on digital platforms. This allowed them to show advertisers specifically where they’ll find and message their target audience.
4. Utilize Resonate’s deep, holistic view of humans to connect advertisers to your audience.
Knowing where to find the right audience, connect them to the right advertiser, and optimize content distribution to align audience and advertising is great, but going a step further to dig into the deep, values-driven messaging that will resonate with viewers is even better. The Resonate Ignite Platform™ looks at the granular attributes that motivate consumers and viewers — this is vital information that can drive advertiser messaging. For example, let’s say you’re a car company looking to advertise during Fixer Upper. You’re focused on pushing your hybrid vehicles. Resonate data can show you that messages driven by authority, tradition, and creativity could be a home run with this group.
Want to learn more about how you can optimize streaming ad revenue by providing potential advertisers with rich, values-driven data on your audience — and their target customers? Request a demo today and we’ll pull your specific data to show exactly how Resonate could help you meet your goals.