This last quarter we have kept on witnessing the ongoing and unstoppable expansion of the online video industry. We’re talking about more players joining in the market, richer experiences, higher quality standards in both audio and video as well as a major focus on getting the viewer to find his best fit content. Here’s a quick snapshot of the top three topics surrounding the online video industry that you need to be aware of in the past quarter:
As technology evolves users have become more demanding and impatient. As a result, video platforms had to start adapting to their demands in order to survive. Users have the power, they decide when and where they want to see content, and increasingly demanding which kind of content they want.
Inevitably, content discovery is an essential part to engage your audience: users may churn if they perceive that you don’t have a compelling content offering relevant to them. Irrelevant recommendations and inefficient search tools can be understood as a lack of content, regardless of your investment.
Real-time video service monitoring helps content providers identify top-performing titles, most-searched titles, successful and unsuccessful trailers, repeat plays, and the relationship between recommendations and views for suggested titles. By correlating user behavior, patterns and consumption trends insights, video platforms can improve personalization with an eye on content optimization and ROI.
Technical, operational, consumption and performance KPIs must be monitored at all times but the reality is that these indicators are just the guts that drive a bigger phenomenon called user churn.
User churn is the one KPI that can demonstrate the health of your service and the one that should push you as an online video provider towards improvement to retain your user base and by doing so increase it. By not focusing on this KPI and letting it get out of hand, your user cost of acquisition will see itself negatively impacted.
As we have said before, users have many other options to go to if they are not satisfied with your service. Use prediction algorithms to your advantage and get ahead of your customers.
QoE has become an overused term in the online video industry, but also one of the big challenges that online broadcasters and OTT´s have to deal with. Even more now, a period in which users spend more time connected to the digital world than to reality. Moreover, expectations and requirements of viewers have increased and will keep growing every day, especially when we speak about having a perfect online experience.
Tracking this QoE in real time can help your business knowing exactly what users are experiencing and how they are using a service allows decision makers at online video services to quickly attend to their users’ needs and verify if complaints are legitimate.
Joaquin De Miguel on April 12th 2018
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