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3 things that OTT video operator should do to create superior customer experience

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25

Aug, 2016

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Digitization is the way for corporates now and they know their future is safe if they go digital. Some struggle with outmoded IT systems and some with pre-digital era culture. Yet all is not lost. The OTTs are in vogue and the reason is well apparent to the entire fast pace of life and their compatibility with it. Still the OTTs need to keep themselves update and well versed with the current consumers and below are some information which will help them stay in market for a longer period.

Recommendations:

Simplify Product Offering: Over The Top players work on free model and viewers enjoy but OTTs also face challenge of piracy and infrastructure hence the product protection is important in this case while the consumers still feel safe while accessing the content. They can go for simplified products by developing wider range of digital services for customers, business and consumers.

Payments: To handle the payment model best they can do is to make the user pay for the content they view that means the day they watch something on the application they pay and not for the whole month and that’s called Micro Payments.

Face the Challenge: The key to meet challenges is to give the client good content, people want quality in content, they prefer paid good content than a free content which has no quality in it. The OTTs have to give them the quality which they can’t resist to buy. If they are creating content assuming they can break even on advertisement probably the equation is going wrong somewhere. They need to be confident enough that they are providing a content that is good enough and if people appreciate it they won’t mind paying to get access to it, if the content is such that they can’t get anywhere they will pay for it.

The OTTs provide services which do not need interconnection mandated, they are IP based, and internet based standards (IETF). Thus, to increase advertising funding the data analytics and business intelligence tools have to evolve too.

Custom/local content:

Players like Netflix which are now focusing on providing local content and making it available internationally are gaining larger consumer base as the consumer loves to get the local customized content as much as they can and they do not have to wait for a specific content to come on television which only a local cable operator can provide them.

There are also many local content providers coming up in market. The traditional television viewing is no more a norm. Also every individual has his or her preferences with increasing OTT the consumers are getting the benefit of watching their preferred individually tailored content.

 OTT’ going local is a good opportunity for them to get local advertisement contracts. With different languages and viewers of all cadres being their client they will get a lot of consumer base.

Subscriber intelligence:

Subscriber intelligence is also on verge of increase every moment longer form content is preferred, full-length TV shows and movies .They prefer time-shifted TV online and also use search and recommendations.

The Millennial’s today do not prefer cable connection. The audience today prefers convenience, lower costs and good connectivity. They look for more standalone OTT and mobile SVOD services. The flexibility of cloud based storage is even helping in getting rid of cable boxes for the consumers.

Looking at unpredictable nature of internet, giving users proactive managed service can help monitor live and linear channels that are streaming via the internet.

Conclusion:

The OTTs have opened up a new way of revenue generation throug VoD, catch –up TV and interactive application. The audience wants fresh content, high definition quality video and buffer free experience. Thus, with increased competition the OTTs now have to give consumers improved service offering. The new technology solutions can help in reducing churn by offering personalized services and some great innovative price plans.

According to Global Video Insights Report by 2018, High definition and Ultra High definition are going to have a share of 21% Internet Video Traffic. OTTs also have cloud storage hence an add-on which has ramped up their profitability.

OTTs focus on services on mobile platforms as the mobile penetration rates rise and so does the usage. The model ranges from freemium model to subscription based model.

Thus, the OTTs are safe and secure way of watching content of your choice as most of the OTTs operate on conditional access system where only the authorized users who have subscribed to them can use it.

By : Ramakrishna Mashetty

Ramakrishna Mashetty is The Chief Marketing officer of SURE! (a Magnaquest product).SURE! is an internationally acclaimed player in comprehensive end-to-end Subscription Business Solutions for PayTV, Broadband and Cloud Computing businesses – through deployment of Metered Billing, CRM, Service Fulfillment, Value-Added Services, and Managed Services.

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