Improving OTT Customer Engagement with Smart Data
The unprecedented uptake and consumption of OTT video services and other digital media and entertainment are leading providers to utilize smart data enhancements such as artificial intelligence (AI) and machine learning to fully understand their customer base. This whitepaper examines the key phases of the OTT consumer journey and how data is used to best acquire, engage, and retain customers. This whitepaper also examines how leading digital media and entertainment organizations are achieving success utilizing smart data through their customer engagement programs. The OTT video examples detailed in this whitepaper can be applied to adjacent media and entertainment markets in gaming, audio, consumer publishing, business information subscriptions, and new digital media.
OTT Video Customer Journey
In today’s highly-evolving and hypercompetitive OTT video service market, smart data or data enabled by AI and machine learning, plays a key role in informing strategies for all of the key phases of the customer journey including acquisition, engagement, and retention and churn. As the OTT video service marketplace continues to grow and competition for consumers intensifies, key trends have emerged throughout each key phase of the customer journey. The trends outlined in this section highlight the need for OTT video services and other types of digital media and entertainment companies to integrate smart data into their operations to grow their user and revenue bases. OTT service subscription uptake has steadily risen over the past several years as consumers migrate their video viewing habits online. However, the rate of services acquiring paying customers took a sharp turn upwards recently with the onset of the COVID-19 pandemic. Homebound households, looking for entertainment options to occupy their time, subscribed to OTT services in unpredicted numbers. Nearly four in five broadband households, as of Q3 2020, subscribe to at least one OTT service. This represents a 7-point increase in uptake, which roughly equates to more than 7 million additional households subscribing to a service this year than last. Acquisition
Overall OTT Service Subscriptions Among US Broadband Households Surveyed
100% 30% 40% 50% 60% 70% 80% 90%
0% 20% 10%
Q3/2014 Q2/2015 Q3/2016
Q3/2017 Q3/2018 Q3/2019
Q3/2020
© Parks Associates
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