Table of Contents Hide
- OTT Analytics: Reporting Best Practices for OTT Platforms
- What data to collect
- How to collect data
- Define your goals
- Collect data from multiple sources
- Structure Your Data in an easily digestible way
- Share your insights with critical stakeholders
- Make use of data visualizations
- Use customized reporting templates
- Drill down into the data
- Data collection
- Data aggregation
- Data visualization
- Use both standard and custom reports
- Utilize a variety of data sources
- Make use of visualizations
- Schedule reports are being sent automatically
As the world of online streaming continues to grow and evolve, so does how we measure and analyze our viewing habits. OTT (over-the-top) analytics is a relatively new field that deals with the specific challenges and opportunities posed by streaming platforms. This blog will look at the best practices for reporting on OTT analytics.
For those in the know, OTT stands for Over-The-Top content. This form of content delivery is streaming media that bypasses traditional distribution, such as cable or satellite service providers.
Instead, OTT delivers content via the internet to any device with a broadband connection. Common examples of OTT services are Netflix, Hulu, and Amazon Video. Newspapers like The New York Times and The Washington Post have launched their versions of an OTT service.
OTT platforms need to have a way to measure the performance of their service to improve the user experience and justify the costs associated with the delivery of their content. That’s where analytics comes in. We will discuss some practices for reporting analytics for OTT platforms.
OTT Analytics: Reporting Best Practices for OTT Platforms
What data to collect
Regarding OTT analytics, there are a few key metrics that you’ll want to focus on. These include things like reach (how many people are seeing your content), frequency (how often they’re seeing it), and engagement (how long they’re watching for).
Other necessary measures include acquisition costs (how much it costs to acquire each new viewer) and churn rate (the percentage of viewers who stop watching your content).
Of course, the specific metrics you focus on will depend on your goals for your OTT platform. Reach might be your most important metric if you’re looking to drive brand awareness.
Acquisition costs and churn rate will be critical if you’re focused on generating revenue. And if you’re trying to build a loyal following, engagement will be crucial. The important thing is to make sure that you’re tracking the right metrics for your specific goals.
How to collect data
There are several ways to collect data on your OTT platform’s performance. The first is through web analytics tools like Google Analytics or Adobe Analytics. These tools can give insights into how many people visit your website or app, where they’re coming from, and what they’re doing there.
You can also use tools to track conversions (like sign-ups or purchases) and other essential actions that users take on-site or app. Another way to collect data is through survey tools like SurveyMonkey or Qualtrics.
You can use these tools to survey your viewers about their experience with your content and get feedback on what they like and dislike. Finally, you can also use customer service data to gain insights into how viewers interact with your content and what issues they might have.
Whatever method or combination of methods you use to collect data, make sure you have a way to track it over time to see how things are changing. This will help you spot trends and identify areas you need to improve.
Define your goals
Before you can start tracking and reporting on data, you need to know your goals. What are you hoping to learn from your analytics? What decisions do you want to be able to make based on the data? By defining your goals up front, you’ll be able to track the metrics that matter and disregard the rest more easily.
Collect data from multiple sources
Don’t rely on just one data source for your OTT analytics. Gather resources from as many sources as possible, including your OTT platform, third-party research firms, and social media platforms. If you work with more data, the complete picture you’ll be able to paint of your viewer behavior.
Structure Your Data in an easily digestible way
Once you have all of your data collected, it’s time to start organizing it in a way that makes sense. Create charts, graphs, and other visualizations to help you quickly see trends and patterns. And be sure to structure your data in a way that allows you to easily segment it by different criteria (e.g., period, geographical region, device type).
Share your insights with critical stakeholders
Finally, once you’ve gleaned some valuable insights from your data, could you not keep them to yourself? Please share them with key decision-makers within your organization so that they can be used to inform strategic decisions about programming, marketing, and more.
Make use of data visualizations
There is the best way to communicate complex data sets in an easily digestible format. Regarding OTT analytics, data visualizations can track viewer engagement, content consumption, and platform usage.
There are a variety of different software programs that offer potent data visualization capabilities; Tableau and Google Data Studio are two of the most popular options.
Use customized reporting templates
One of the benefits of working with an experienced OTT analytics team is that they will likely have access to customized reporting templates. These templates can be used to quickly and easily generate reports that are tailored to your specific needs and requirements.
Not all OTT analytics teams offer this service, so be sure to ask about it before you commit to working with any one provider.
Drill down into the data
When reviewing your OTT analytics reports, it’s essential to take the time to drill down into the data and understand what it’s telling. This means looking at things like month-over-month trends, identifying any areas of concern, and adjusting your strategy as needed.
Don’t be afraid to ask if you don’t know what something means; the goal is to make you get the most out of your data.
One of the most critical aspects of reporting analytics is clearly understanding what data is and how it’s being collected. This data comes from a variety of sources, including:
- Server logs
- Application software
- Marketing platforms
- Third-party sources, such as social media networks
To make the most informed decisions about your OTT platform, collecting data from all relevant sources is essential. This will give a complete picture of the platform’s use and areas that need improvement.
One of the most critical aspects of OTT analytics is data collection. Without data, you won’t be able to track or measure anything. When considering an OTT platform, make sure it offers robust data collection capabilities.
The platform should be able to collect data from all of your devices, including set-top boxes, streaming devices, and mobile apps. It should also be able to collect data from all of your content, including live and on-demand content.
If possible, choose an OTT platform that offers real-time data collection. This way, you can always have the most up-to-date information about your viewers. Real-time data is critical if you’re running live events or need to make immediate decisions based on viewer behavior.
Data aggregation is another essential consideration when collecting data for analytics purposes. You’ll need to decide which data points are most important to your business and aggregate them accordingly. This will ensure you get the most accurate picture of your platform’s performance.
Data visualization is one of the most powerful tools in an analytics report. The correct visualization can make complex data sets easy to understand at a glance. When choosing which data visualizations to include in your account, select those that best support your key findings and recommendations.
Additionally, be sure to use colors and fonts that are easily legible so that your report can be understood by all who see it.
Choosing the Right Metrics, Not all metrics are created equal. Different businesses will care about other things. When selecting metrics for your report, choose those that align with your company’s goals and objectives.
For example, if you’re trying to increase brand awareness, you’ll want to track metrics such as reach and impressions. To track metrics such as time spend on site and pages per session to improve customer engagement.
By selecting the right metrics, you’ll be able to more effectively measure the performance of your OTT platform and make informed decisions about how to improve it.
Use both standard and custom reports
Several aspects of an OTT business need to be monitored, such as content engagement, platform utilization, customer acquisition and retention, and revenue generation.
While it is essential to have access to standard reports that provide an overview of these key metrics, it is also necessary to be able to generate custom reports that drill down into the data to uncover hidden trends and correlations.
Utilize a variety of data sources
An effective OTT analytics reporting strategy will use data from various sources, including streaming logs, server-side event tracking, client-side event tracking, billing & payments data, and CRM data.
By bringing all this data together in one place, it will be possible to get a complete picture of the business’s health and identify areas that need attention.
Make use of visualizations
The most effective way to communicate complex data is through visualizations such as charts, graphs, and maps. When designing reports for OTT analytics, include a mix of static and interactive visualizations to help readers understand the key takeaways from the data.
Schedule reports are being sent automatically
To stay on top of the latest changes in your OTT platform’s performance, it is essential to set up your reports to be delivered regularly. Automating the report delivery process will ensure that you always have the most up-to-date information at your fingertips when you need it.
Reporting on OTT analytics requires a different approach than traditional web or TV analytics. By using data visualizations, customized reporting templates, and drilling down into the data, you can ensure that you’re getting the most out of the OTT platform.
The OTT analytics market is overgrowing, and broadcasters are looking for ways to measure the performance of their streaming services.
While many different types of metrics can be tracked, not all are relevant to every broadcaster. Developing a reporting strategy that focuses on the most important data for your business is important to get the most out of OTT analytics.
We have years of experience working with broadcasters and helping them develop successful OTT businesses. We can help you create an analytics plan tailored specifically for your needs, so contact us today for more information about our OTT consulting services.