In Race to Win Digital Media Subscribers, Are You Succeeding?
The success of digital media services including over-the-top (OTT) platforms like Netflix and Amazon Prime, as well as news publishers like The New York Times, have proven that traditional cable and the prints are no longer the only way audiences consume content.
Enabled by technology, the shifting audience demands for what, when and where they consume content have driven incredible growth in the digital media market over the past few years.
About 10.2 percent of the global population (765 million) will use a subscription OTT video service at least once per month in 2018, and the global OTT market will grow by 24 percent thanks to increasing internet penetration, faster speeds and a broader shift toward internet entertainment, according to eMarketer.
For instance, Netflix has recorded a robust 34 percent year-over-year (y-o-y) revenue growth to US$4 billion driven by the growth in subscribers across both the US and international streaming markets. The latter saw the subscriber base increase by 40 percent y-o-y.
On the news media side, Deloitte estimates that by the end of 2020, the proportion of subscription to advertising revenue for publishers will be 50:50 in digital. This split was still 10:90 just in 2012.
As digital media platforms continue to gain popularity, the competition for subscription dollars will only get even more fierce, therefore, how to better connect with audiences and make them stick to your platform is becoming increasingly challenging.
Understanding What Content Your Audiences Are Interested In
To increase subscriptions and renewals, you need to increase user engagement to maximize viewers’ time spent on your platform. The more content they consume, the more likely they will stick to the platform.
However, marketers don’t always have enough information on the kind of content that a viewer is interested in, especially for new users who tend to have short attention spans, and showing them vanilla content leads to bounces. So, it is vital to show them the most engaging content in their genre of interest.
Understanding your audience’s interest is also important for engaging existing subscribers and the ones who are about to or have unsubscribed. The game comes down to making the most relevant recommendations based on their interest and behavior.
This is where you can leverage AI to understand viewer interests outside your own platforms, which is particularly helpful for new viewer engagement. For instance, by using AI-powered marketing automation tools like AIQUA, you can identify a new user Roger as a lover of sci-fi films while another new user Emma being a fan of comedies. With such information at hand, you can customize the landing page of your app and website to display personalized content on their very first visit and to maximize engagement.
For existing subscribers and those who have unsubscribed, you can use AI to recommend the best content based on both their internal and external interests. For example, the sci-fi fan Roger has also been searching for drama and documentaries recently, therefore you can make recommendations based on these topics to keep him hooked.
In the other case, if Emma unsubscribed, AI can help you discover her change of interest from comedy to period drama, detected by keywords she uses on external sites. You can then reach out to her through different channels such as app push, web push and email with recommendations based on her new interests.
It is no secret that one of the key ingredients of Netflix’s success is using recommendations driven by machine learning algorithms to encourage viewers to watch more shows. More than 80 percent of the TV shows people watch on Netflix are discovered through the platform’s recommendation system.
Understanding When and Where to Reach Out in an Engaging Way
In the digital media business, companies offer content across multiple devices to meet audiences’ changing needs. So, it’s critical to identify each viewer’s behavior across devices at different times for your messaging to avoid poor engagement.
AI cannot only help detect such changing behavior, but also predict the optimal time to send a personalized message to your audience. For instance, based on the available data, AI can find out that Emma uses her mobile phone on the train while traveling to work, her PC in the office at lunch hour and a tablet at home in the evening to watch a comedy series.
With this insight, you can leverage marketing automation tools like AIQUA to enable cross-device engagement and provide an omni-channel experience by synchronizing your message on different platforms, such as app, web, email, SMS and LINE messenger.
Also, apart from personalizing the content of the message, you also want to make sure your message is visually appealing by using different creative formats such as carousel push to capture your audience’s attention.
Today’s audiences are willing to visit the app and website on a daily basis, and even multiple times a day. This has offered marketers an opportunity to fully optimize their messaging through the skillful utilization of data. By leveraging advanced technologies such as automation and machine learning, marketers are able to grab hold of the best opportunities to deliver relevant, well-timed content on the right channel.
WE ARE HERE TO HELP
YOU MIGHT ALSO LIKE
Medical science has always been data rich. For centuries, scientists have collected data through experiments, longitudinal studies, research and even day-to-day activities such as taking case notes after meeting with a patient. However, the COVID-19 pandemic has seriously altered the game. While even the biggest medical research programs have dealt with hundreds of thousands of cases, the pandemic affects billions of people. With so much data from many different sources flying in, artificial intelligence, or AI, is being used to help combat this virus. Using AI to Make Data-Driven Decisions Data scientists have been primarily focused on four key issues when trying to interpret page sets of data: volume, velocity, variety and veracity. These ‘four Vs’ are a significant challenge. With COVID-19, data is coming in from all over the world, at different times, from many sources and from systems with varying degrees of certification and accuracy. In December 2019, an artificial intelligence platform called BlueDot, which scans data from hundreds of sources, detected a cluster of pneumonia-like illnesses in Wuhan, China. Today, almost everyone knows this was ground zero for the coronavirus pandemic. Without BlueDot, it may have taken weeks longer for the world to become aware of
What is the key to marketing success? Understanding your customers, and building and maintaining relationships with them by meeting their needs and wants. One type of marketing that can help you do this efficiently is owned marketing – but what is it and what are its specific benefits and best practices? What Is Owned Marketing? Owned marketing is a set of customer-focused strategies and tactics that are implemented through your own brand channels, also known as your owned media. These owned channels include your website, app, blog, social media pages, email, SMS, forums and any other media that you own and have complete control over. Owned marketing follows a pull marketing strategy. This means it is used to get your messages out to the market and to increase demand for products or services. In other words, it helps pull people towards your brand. It can also help you establish your brand and voice. How Is It Different From Paid Marketing and Earned Marketing? Owned marketing is a term often used in conjunction with the concepts of paid marketing and earned marketing, but what is the difference? Paid Marketing Paid marketing includes any marketing
It is great that people are installing your app, but install alone doesn’t guarantee your app success: 25 percent of apps are only ever used once. So, how to keep those users sticking around and continuing to engage with your app? Onboarding is not only the start of your relationship with an app user, but also a vital step to building long-term engagement. Think of onboarding as a first impression. Get it right, and you will have a higher chance to keep a customer for the long run. Get it wrong, however, and you might lose that customer forever. So, how to leave that lasting first impression? Here are eight onboarding techniques that can help you get users hooked on to your app for a long term. 1. Simplify Your Sign-Up Process A customer’s time is precious. They don’t want to spend any longer than necessary on digital admin like signing up for a service. If you can simplify the process, perhaps by letting them sign in with their Google or social media account, you will save them time and make them enamored of your brand. 2. Send a Tutorial Loading an app for the first time can