How to succeed with video-on-demand business
The most important aspect of improving your video-on-demand (VOD) platform for it to reach people requires a thoroughly researched strategy implemented to the right audience at the right time. The most efficient combination for your VOD platform to gain traction is- Creative content, audience, monetization, and marketing.
After successfully setting up your video-on-demand business and your VOD platform, the next thing to focus on is to bring in relevant traffic to your platform. A unified marketing idea like a unique selling proposition is essential when you create your own Netflix. Every aspect of the video-on-demand marketing strategy must be in alignment with the USPs of the brand so that it helps to differentiate the business from its competitors.
Once the USPs are set, the next is market research. The target market must be defined along with user preferences and behavior that will create a target audience profile to get a significant amount of traffic on your VOD platform.
So here are the important aspects you have to focus on to succeed with your video-on-demand business.
Unique and creative content is a fundamental driving force behind every successful video-on-demand business. While the video-on-demand space is rich in market potential, it is always prone to piracy and needs to be protected. Popular video-on-demand platforms like Netflix are safeguarded by technologies like SSL certificates, data right management policies, paywall integration, AES-256 encryption, etc. These multi-layer security features eliminate content piracy, copyright infringements, and other third-party interferences without permission.
To succeed in the VOD scene, ensure that the videos hosted on your platform are unique and original. If you are uploading content owned by others, collaborate with the content owner to secure rights to their content. This will ensure to bring exclusivity to your VOD platform.
Building a target audience based on your niche and nurturing it constantly is an essential part of any VOD marketing strategy. When you want to create your own Netflix, start with finding your niche market. Knowing the user behaviour on your VOD platform will allow you to serve your users better. The best marketing strategy is to present yourself as a niche VOD business for a specific type of on-demand content.
Marketing of any VOD business is all about promoting the content at the right place in the right way. The best marketing strategy for your VOD platform requires a lot of planning but can offer very generous returns. Prepare a solid marketing strategy for your VOD platform as soon as a new video is launched. Every channel you choose to promote your content requires a different strategic outlook.
Here are some of the best marketing practices to benefit from your next VOD marketing campaign.
Customer contacts like a name, an email address, and a contact number are all worth in the world of marketing. Creating an email list will help with email marketing to keep in touch with your existing customers and to get non-subscribers to return to your platform to purchase. Sometimes users will try out a free trial offered by you and not subscribe to your service. It might be due to the cost of the service, or they are not happy with your offerings. Email to your customers and let them know about special pricing or offers. Once you get them to know about your services, converting them to a sale is easy.
Collecting the right customer data will help with email marketing and reduced client churn, and higher profits. Personalizing every mail you send to your potential customers is the best practice to follow. However, in certain situations, you can effectively use bulk mailing campaigns to reach as many people as you want in one shot.
Send emails to inform them about your promotions and new offers to let them know about your new relations or new features on your website. This also works great when you want to send reminders to users who leave your site without signing up.
- Reward loyal customers
Always recognize customer feedback, both good and bad. Take time to address client issues and reward your users for appreciating their inputs. Even small rewards can help to keep your users feeling recognized and happy. Quality customer support is one of the best marketing strategies any VOD brand can adopt. Create relevant channels to receive feedback from your customers and ensure active engagement in all of them. It can be social media networks, phones, email, or any other platform.
- Search engine optimization
Optimizing your VOD platform for search engines is the most efficient way to rank your VOD platform online. In order to be seen by your audience, it is essential to appear on top of the search results when your users search for videos that are on your VOD platform.
If you are using VOD software, most of them come with in-built SEO integration. Optimizing your VOD platform must also include extensive research on competition in the market and optimize your video for the right search terms.
Establish a social presence
Staying active on social media platforms is very important for any VOD business, not just as a part of the marketing strategy but as a way to create incredible user experiences for your subscribers. You can also make use of your social handles to promote new content releases on your platform. But, never use your social presence just as another way to market your business. For example, none of the popular VOD platforms, including Netflix, use social media platforms just for promotions. Instead, they use it as a channel to make connections and engage their user base.
The right Monetization strategy
Every VOD business must have the right monetization strategy to make money. You can choose the advertisement model, subscription video-on-demand model, or pay-per-view video-on-demand model to power your services. As the name suggests, the advertisement VOD model offers content absolutely free for users but earns from placing advertisements between videos. The subscription model allows users to gain access to the content library on your VOD platform for a fixed subscription fee. A pay-per-view model or transactional VOD model is where users pay for what they watch. Even a combination of two or more models also works.
As with any other business, marketing is essential for video-on-demand businesses too. When it comes to video-on-demand business, the focus on making videos often overshadows the marketing needs. Reaching the right type of audience at the right time is critical to the success of your marketing campaigns. There is certainly no easy way out, but enhancing your content and marketing game will help to a great extent.