To clarify streaming services, it is a method of delivering multimedia instantly to an end user without the need to download files through a provider. Examples of streaming providers are: Netflix, Disney+, Hulu, Spotify, Pandora, Prime Video. All these providers have a multitude of different formats of media (short video, music, film, animation, etc.) that can be chosen by the user to view without having to download that specific file to a hard-drive to then view.

These services have significantly changed the way that a consumer interacts with each type of media. By simply paying a monthly fee, a user has access to a hundreds, if not thousands, of different videos, films, TV shows, and music at a click of a button.

How has this impacted promotional marketing?

A survey in 2017 showed that 40% of respondents chose a streaming service to avoid commercials. With providers such as Netflix and Hulu, they offer an ad-free service that minimizes or completely eliminates the commercials we would normally see through a traditional cable service. This creates an issue for advertisers who may rely on TV commercials as a main source of lead-generation, especially those companies that may be located locally or regionally. Commercials for companies help reach a wide captive audience either through targeting on specific channels or mass advertising due to price breaks. If your company does not have a robust marketing team, switching methods and channels may be very challenging.

Streaming services like Pandora and Spotify offer different levels of their services with a free-basic product to an unlimited ad-free service – this hinders your company’s ability to reach them through voice or digital ads in that particular instance.

How do companies adjust their marketing strategies to reach their users and how they want to be communicated to?

Radio

For those that may rely on TV commercials, adjusting to radio ads may be beneficial. Creation of radio advertisements are cheaper due to the format (no location costs, makeup, stylists, etc.) and the target audience can still be reached or be highly segmented due to the radio station and demographic. Although, certain cities and stations may cost slightly more, it is worth looking in to see if the ROI would increase due to lower cost of production. These radio ads can then be placed on music streaming services, such as Pandora and Spotify, which have the potential to reach even a larger audience. However, if your company can not service nationally, this would not be the choice for you.

Digital Retargeting Ads

Have you ever seen an ad for a company just follow you around the internet? Those are retargeting ads. They are set up with specific tags (or keywords) that a user uses to search or has clicked on before and is then able to follow the user throughout the internet journey on specific pages that allow for such ads. Specific dimensions are given so creative development is not a heavy lift and the cost can vary pending your company’s budget and how much you would like to saturate the audience.

Social Media

This in itself can become an undertaking, but the payoff can be great. By collecting the right data on what channels your audience uses, you can adjust posts and engagement opportunities to those channels. Those opportunities (to name a few are):

• Paid promotional ads – highlight a sale or product launch to attract and collect leads and inform loyal customers.
• Organic posts – have conversations with your followers. Being authentic and non-robotic will increase loyalty and your followers will share creative content.
• Live Feed – have a fun event or can show a sneak peek in to something exciting with your brand? Offer your viewers a chance to see what is happening now with your company.
• Story feature – create fun content throughout the day or answer consumer questions through the Facebook or Instagram story feature to keep the conversation going.

Managing your social media accounts can be a full-time job and your company should consider hiring a Social Media Manager who can help develop and manage the accounts to keep content exciting and up to date for your consumers. This is where your audience may spend most of their time when on their phones or online – so meet them there!

Print

A large portion of consumers still believe in the magic of tangible items. Yes, it is an expensive marketing strategy, but can be used wisely. Special offers, holiday cards, VIP pieces can be used within this channel. Using collected data, you can pinpoint your demographic that responds the most to print and what type of mailer. Engagement pieces may not offer the best ROI in terms of sales, but can bring in incredible feedback and testimonials to use throughout your company’s entire marketing strategy.

Email

A very powerful tool. One of the first actions a person takes in the morning after turning off their alarm clock is checking email, which indicates email as a main channel in communicating with your audience. However, with so many companies competing for attention, how can you get in their inbox and be noticed? Testing! Email, due to its extremely low cost (in comparison to print) offers companies to test to their heart’s content!

What hour do you send an email to gain the most response? Is it a basic letter format or full visual that gets your consumer to click through? How many CTA (call to action) links to you put above the fold? Do testimonials or consumer stories draw your consumers in? These are just a few items in which your company can test email. Email also allows for heavy targeted segmentation to see what groups perform better with what content, etc. Production costs for email development is low, which will help with your ROI.

Personalization

This tactic is increasingly important in today’s consumer world, as the consumer becomes more educated and wants to become more engaged. A general message to a whole audience will not always work. Individualization from companies to the consumer is a way to increase customer loyalty. “How do companies show that I am just not a number in their ledger or spreadsheets to them?” “Why does the company need my money when they are making millions already?” “The company won’t care if I don’t spend that much with them.” Consumers want to be acknowledged and rewarded for their behavior (no matter the extent) from the companies they purchase or interact with.

Birthday/Anniversary messages, buy again prompts, recommendations, etc. are just a few ways that a company can show personalization through the use of variable data points and the data collected from each individual to enhance their overall experience with your company and products or services.

Use Your Data

The above marketing tactics are wonderful elements to mix in to your whole marketing strategy, but will not be effective if your company does not look in to what the data is telling you. Consistent review and collection of data from every angle will help ensure your company is effectively and efficiency using all the tools in your toolbox. The data collected can even indicate a new way to reach to your consumers – which could elevate a current tactic or direct your team to use a new channel or method to engage with your consumers. Do not be afraid of numbers, they will you a wonderful story if you read carefully and sometimes in between the lines.

Consumers across the board are buying in to services that automate their lives and eliminate aspects of “inconveniences” for them. Streaming services increase the convenience for the consumer, while increasing the hurdles for marketers. Understanding who your audience is, how they speak, and how they wish to be communicated to can make all the difference in the world. Companies who are changing their methods and the story to meet them where their consumer is will prevail in a hyper-speed, no nonsense world.

Working with Colleen Eakins Design, we can work with your team to understand your obstacles and create content that will attract and retain your consumers.