Steps to Success 101
The 3 pillars your OTT service must have in order to stand out from the crowd and be successful in this highly competitive market.
So you’re looking to start your own video streaming business. Or perhaps you just got started. What’s next? You may want to ask yourself a couple of key questions, such as, how do you define success? And most importantly, what do I need to have a successful OTT?
At Nunchee.com we’ve asked ourselves these questions before, and dare we say we have the recipe for success! And even better, we’re willing to share because, you know, these are tough times, and sharing is caring. So with no further due – suspense music plays – here are the 3 pillars to a successful video streaming business!
1. Content
We’ve said before and you know it already, content is the absolute king. Good content will transcend many faults – not that we encourage you to slack off in any way. But the point is that you have to offer top notch stuff.
If you’re a content creator with a known audience, you probably know what works by now. But then again, why not try something new? Our attention span seems to shorten at a record pace – yes, I’m speaking for myself – but also we’ve never been so eager to look for and consume content! On one hand you have the typical consumer who you need to “seduce” quickly and who is looking for content. On the other you have a plethora of platforms and content creators/distributors doing exactly that!
Have you found yourself scrolling through all the entertainment and/or educational platforms looking for something to watch? And then perhaps feel that “there’s nothing new or interesting” out there? Well, it looks like we’re all in the same boat. Hence the need for great, engaging, interactive content!
Know your niche, know your people. Feed them accordingly and frequently!
2. Marketing
If you want people to consume your content they first need to know you exist. Yes, it’s a bit like dating. How can you meet the one and only if they don’t even know your name? Thankfully there is no shortage of tools for you to do that – well, except for OTT-User type of Tinder. What I mean is that there are plenty of marketing tools that you can use and get your message across.
One of the ways people divide the digital marketing world is between the paid/non-paid; and that’s self explanatory. In my humble opinion, you should go big or go home. More specifically, go for both paid and non-paid. I could – maybe I will – write a whole article on all the many reasons you should be attacking both fronts.
Paid search campaigns on Google and Bing are a classic. Facebook can be an incredible tool as well. If you know your audience, that’s even better because both of these ecosystems will offer you segmentation options – which you will want to use.
Another idea is affiliate marketing. There are many platforms out there where people can recommend your service in exchange for different incentives. If you’re in the fitness industry, perhaps you can establish partnerships with strategic partners. Get the word out!
Last but not least, don’t forget social media, hashtags and all those shenanigans. I know it sounds like everyone’s got that figured out, but it’s not that easy. Again, social media content, frequency and quality will determine if you can build a strong community. Don’t be shy and learn from Netflix, Hulu, AmazonPrime or any other competitor you may have identified.
A solid marketing plan is key to success. Get yourself out there, get people to know your name, and delight them with your content!
3. Technology
You’ve got amazing content and a great marketing strategy. Now what? Well, you guessed it: the Technology.
One option is to hire a team of developers to start working on a custom, state of the art platform so you can showcase your products. Now let’s take a minute to imagine what that would look like. Let’s say you’re super fast and it only takes you 3 months to put the team together. Then you lay out the plans and they get started. Perhaps they’re incredibly productive workaholic people, and in another 3 months, you have your first platform prototype. Wow! You’re 6 months into this project – consider salaries, time and energy spent on getting investors and all the other variables – and you’ve only got your first (most likely bugged) MVP! My question is: do you have the time, money and energy to do this from scratch?
If you’re looking into launching quickly you may want to consider finding a SaaS service, a platform that gets you going in a few days. Remember, you have the content, the marketing plan, you’re ready. All you want is to sit down, upload and organize your videos and start selling it right away. And yes, you want iOS and Android apps as well.
Nunchee.com specializes in OTT technology. But with Nunchee, you can build your service with just a few clicks during our 15-day free trial and start monetizing very quickly – and oh, of course you get to choose how to do this.
We will help you every step of the way so you can concentrate on having amazing content and acquiring customers. If you want to know more about how we help you with your video streaming business, wait no more and book a call with one of our video specialists now!
