Like most forms of media, online video offers its content owners many ways to earn money. They can run ads. They can take subscriptions. They can try pay-per-view and pay-as-you-go models. Etc.
None of these strategies is particularly new.
What is new, however, is how online video lends itself to content optimization—and, in turn, to personalization. Consider a few examples.
(1) When a reader abandons a written Web article, it’s nearly impossible to pinpoint the word or phrase where they stopped reading. The page, sure; the paragraph, maybe. But when it comes to granular insights into user behavior—the kind that allow for full optimization—text offers only imperfect solutions.
(2) It’s also difficult to know what moves people to share a particular written article. Unless HTML anchors are used extensively, sharing and linking with text-based content is clunky. You’ll know that an article was shared, but you won’t know what sentence or idea proved so interesting to the user that they Tweeted it or posted it to Facebook.
(3) Back in the day, there was one TV per family and only one screen for, say, every four Americans. You could infer your audience’s likes and dislikes based on general viewership patterns. But because audience-related data—like the Nielsen ratings—were reported at the household level, there was no way to truly understand how viewers watched as individuals.
All this changes with online video.
When it comes to viewer abandonment (point 1), Ooyala’s technology lets you identify the exact second—the exact frame, even—where a viewer stops watching. You may find, for example, that placing a main punchline within the first 20 seconds of the video increases by 25% the number of viewers that watch your video to completion. Or maybe two-thirds of your viewers are fast-forwarding to the place where the outfielder makes an incredible sprawling catch. With the right tools, you can understand exactly where your viewers are the most engaged—and devise strategies to maximize viewership.
When it comes to sharing and linking (point 2), the right video technology allows deep-link sharing. So users aren’t sharing content titles and top-level domains, but specific sequences, scenes and lines. You’ll know, in other words, exactly what is of most interest to your audience.
Finally, the proliferation of screens—laptop, tablet, mobile, OTT—means you don’t need to worry about imprecise reporting at the household level (point 3). Today’s viewers each watch on their own screen, so it’s possible to capture individual viewership insights. All you need is the right tools—like Ooyala’s. You can fully personalize the viewing experience, add content recommendations, and even optimize your monetization strategy by serving only ads that are of interest to each viewer.
What does all this mean?
Simply put: no more educated guessing. Smart companies are using Ooyala’s real-time analytics and individual-level reporting to see their viewers clearly and optimize the performance of their content. The result? Happy, loyal viewers who engage often and keep coming back for more.