Advertising Trends in Sports Streaming
The most successful advertising campaigns in digital media are creative, original, and timely. They create a connection with an audience and spur them to action. Being ahead of the curve with your creative will help you stand out and gain traction in new and existing markets. Follow the herd and you're unlikely to gain resonance, falling victim to being a follower and not a leader.
Yet the desire to be unique and stand out in your campaigns doesn't mean that trends cannot be helpful. In fact, understanding what is working for other advertisers and what audiences respond well to is the best way to ensure your hard work will find an audience and deliver the best return on your advertising dollar. Trends can help guide you to the front of the pack. Understanding what's popular is part of creating those creative, original, and timely campaigns.
With technology constantly evolving in the OTT (over-the-top) and CTV (Connected TV) space, it seems like there are always new and innovative ways for advertisers to immerse their brand into the live game experience. In this blog post, we will take a look at some of the latest advertising trends in sports streaming specifically and explore how they are changing the way brands approach marketing. We will also discuss how these trends are creating a more personalized viewer experience, and consider what the future may hold for this rapidly growing industry.
OTT Advertising Trends
With OTT being popular, several trends have come up in the advertising space as well. Below are a few:
More interactive ads
One trend is that advertisers are creating more interactive ads for OTT platforms. Advertisements that call the viewer to send a text message or interact with an app to predict the next play in a football game have the dual benefit of enhancing the game experience and building brand affinity. This type of interactive ad not only allows brands to better engage with viewers, but also provides valuable data that can be used for future campaigns. Sponsoring an ad segment calling for a text message vote for "Driver of the Day" in a Formula 1 race or sponsoring a segment during a stream pointing viewers to an app to vote for "Play of the Game" can be a great way to tie the action of the event to your brand or product.
Customized and personalized ads
Sports advertising is becoming more and more customized and personalized, catering to the needs and wants of individual viewers. Advertisers are now able to utilize consumer data to create highly targeted and personalized ads. For example, a sports fan who regularly watches basketball on their Connected TV may see ads for basketball-related products or services that are tailored specifically to their interests. This type of targeted advertising is very effective at getting consumers to take notice and act on the ad. It is also likely to continue to grow in popularity in the coming years as data becomes even more ubiquitous.
Ads with different success metrics
Each ad has a different rubric on which to measure success. Among many, there are two primary success metrics for OTT advertising: conversions and brand growth. Conversions refer to the number of viewers who take action after seeing an ad, such as clicking through to a website or making a purchase. Brand growth refers to the increase in awareness or favorability that results from exposure to an ad. Both conversions and brand growth are essential for businesses that want to succeed in the world of OTT advertising. Thanks to the growing popularity of streaming services, reaching potential customers on OTT platforms is becoming increasingly important for businesses of all kinds - especially those in the sports industry.
Buying a known, passionate audience
Even with third-party cookies on the way out, buying spots during sporting events is a great way to target a passionate audience with clearly defined interests. In fact, the case can be made that with less and less personalized data available about audiences, sporting event advertising is one of the last places where known, passionate audiences can be found.
Streaming advertisers can look at other brands advertising around a team if they are unsure if their own brand will resonate. For example, if a local hamburger chain has a billboard in centerfield then a competitor may find an interested audience by advertising during the team's OTT broadcast.
Leveraging cohort data instead of personalized data
Continuing on the trend of third-party cookies no longer being effective for tracking audiences and creating campaigns, the rise of cohort and anonymized aggregate data will be a trend for OTT advertisers.
Anonymized aggregate data is an emerging trend for OTT advertisers. This type of data helps to better understand customers without compromising their privacy. It involves collecting and combining anonymous user data from multiple sources, such as websites and mobile apps, to generate insights without being able to identify individuals or groups of people. This makes it possible to identify patterns that can be used for targeting, personalization and measurement.
This data can then be used to target customers who are more likely to engage with a brand’s ads and content, leading to higher conversions and greater ROI. Advertisers are also able to measure the effectiveness of their campaigns by tracking engagement metrics like viewership, click-through rates, and time spent watching.
Turning OTT Advertising Trends in Your Favor
The sports streaming industry is an ever-changing landscape that presents plenty of new opportunities for brands looking to engage with viewers. With more advanced technology available, advertisers can now create more interactive and personalized ads that are better targeted to specific audiences. As this trend continues, it will be interesting to see how these advertising strategies evolve in the future to take advantage of the rapidly growing OTT audience.
By leveraging the right data and staying up-to-date with emerging trends, businesses can position themselves to make the most of their OTT advertising campaigns. With the right strategies in place, brands can reach a larger audience who are more likely to engage with their ads and content - resulting in higher conversions and greater ROI.
Cast Iron Media strives to create a space for brand campaigns that are compatible with the current sports landscape. Our company has relationships with leagues, teams, and partners in order to better assist you in reaching large groups of engaged sports fans - whether they're at home or attending a game. We know how to leverage the power of OTT advertising, and will work with you to create a campaign that works for your business. Contact us today.