According to a Forbes report, Americans spend an average of $46 monthly on streaming services. An incredible 99 percent of US households subscribe to at least one or more streaming services, with Netflix, Amazon Prime Video, and Apple TV+ topping the list.
There’s no doubt that the streaming revolution is here to stay, but as costs rise and the market grows more competitive, users are becoming quicker to cancel.
Jason Hicks, GM of Measurement Solutions at Kochava, and Jessica Dudley, VP Analytics and Operations, Liftoff, argue that activating your data, designing effective ads, and running successful acquisition campaigns for streaming services can be a vastly complex and intricate process without the right expertise. Getting it right however, can unlock the secret to retaining your users longer.
Hicks explained: “Streaming services in today’s market have a vast wealth of data to collect and understand. Apps are available across a fragmented ecosystem of mobile, connected TV (CTV), gaming consoles, and other connected devices. Today’s users are represented by an array of linked devices; a campaign on mobile may drive outcomes on CTV or web, just as a CTV campaign can drive conversions in your mobile app. Making sense of all of this is no easy feat.”
Below, Jason and Jessica outline five top tips for measurement and user acquisition strategies on streaming apps.
1. Measure what matters
Hicks said: “Wherever your streaming service is available to users, measure it. Any gaps in your measurement strategy will create blind spots and subsequently blur your true understanding of how your growth and engagement campaigns impact user actions. Streaming services measure their apps across mobile, tablet, desktop, gaming console, CTV, and OTT streaming sticks and boxes.
“For measurement, streaming services can tap into a robust library of software development kits (SDKs) that enable out-of-the-box measurement across connected devices, unifying all of a brand’s streaming app engagement data into a single dashboard.”
- Enable cross-device identity resolution
Hicks continued: “In the modern world the average consumer interfaces with multiple connected devices across their experience. This means that streaming apps need effective identity resolution, which is the process of combining data from multiple sources to create a single, comprehensive user profile.
“A user could consume content on their connected TV, mobile device, tablet, computer, gaming console, and more. Referring back to the previous metadata tables, passing a privacy-first user ID within event metadata is an effective way to join user-level engagement data across all touchpoints, rather than viewing engagement in silos by individual devices and platforms.
“By implementing tools for identity resolution, marketers gain a more holistic view of the user journey to better deliver personalized and relevant content, experiences, products, and services to their customers. It also provides vital intelligence for informing omni-channel marketing strategy.”
- Ensure frictionless registration pathways and easy onboarding.
Dudley said: “Always pay attention to seamless device compatibility. Users may want to sign up on mobile but start streaming on a tablet or on CTV apps. Make the process as easy as possible to ensure a smooth transition.”
- Don’t sleep on mobile re-engagement.
Dudley continued: “Introducing re-engagement campaigns on mobile can encourage churned users to renew or unpause their subscriptions. Especially as user acquisition costs rise sharply in key markets, re-engagement is a proven way to increase revenue without relying exclusively on new users.”
- Run special promotion campaigns for new or top-rated content alongside evergreen campaigns.
Dudley said: “Promotion campaigns can reach niche audiences and re-engage audiences that have churned. Run them alongside evergreen content to have a year-round benchmark for comparison. As an added benefit, you don’t have to touch the winning ad creatives you’ve already optimized for success. If you already run promotions through other channels, consider increasing their reach by adapting your campaigns for mobile.”
Photo by Mika Baumeister on Unsplash
