At some point, a business will want to grow and expand to receive more revenue. Looking for opportunities to do that is an essential part of that process. Video streaming platforms have many options. In this article, we are going to explore what some of these options are. Keep reading!
So, how to grow your video streaming business?
Here is the list of opportunities:
#1 CDN solution
When looking for ways to grow a video streaming service, you can consider expanding your OTT content delivery over new locations. For example, if you cover one region of a country right now, you can try letting people from nearby regions stream your content.
Of course, you can go worldwide and give access to your platform to people from other countries and continents. There are many ideas on how you can use a CDN solution.
Some video streaming services allow only access to viewers speaking their language. For example, you can stream only for Italian-speaking people around the globe. Or you can cover people from Asian countries.
But if you want to become an international business, make sure to take care of such things as subtitles and content localization. Localization is when you translate your platform content so that it matches the cultural and language peculiarities of people from different countries.
#2 OTT applications
If you have only a website for your video content, think about adding applications. Without them, people will probably use only computers to watch your videos.
OTT applications operate on different devices: smartphones, Smart TVs, tablets, game consoles, and laptops. It is huge traffic that you can attract. Implement that into your video streaming business and let people view videos on any device they have.
There are people who don’t even use computers and laptops. They probably don’t know about your service. A smartphone can be enough for them. Or there are people who prefer watching videos in full HD quality on big Smart TV screens.
By creating applications, you can increase the number of customers using your platform and the revenue as well.
#3 Optimize your marketing strategy
Analyze how well you use all marketing channels you have at your disposal. Check if something can be changed and enhanced.
- Use the power of social media. Social media services have great potential for communicating with your audience. You can ask people about their expectations or thoughts on what your platform needs to become perfect. People love sharing. Also, you can attract new people by advertising on social media. They have targeting capabilities, and you can show your ads to people who might be interested in your content.
- SEO marketing will help your website appear higher on the search engine results pages. It is essential to optimize because it can bring more traffic to your service. People usually click on pages that appear in the first several positions. So, you should work hard to achieve that.
- Email marketing is good for promotional letters. You can also inform people about new videos. It may occur that you come up with a wonderful idea on what to tell your viewers in emails besides the platform’s news. So, it is worth testing.
- Referral programs will encourage some of your viewers to tell their friends and relatives about your video streaming content. You can offer them a discount or a month of free access to videos for a recommendation.
Conclusion
We came up with only some of the ideas that can help you grow your business and increase revenue. You can use them or have your own. But we think that they are worth testing.
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