As the TV market gets saturated with various offers and promotions, big amount of content tailored to the viewers’ needs and availability on various devices, the churn rate keeps on growing.
The question that logically follows is, Do OTT providers really know and care about their subscribers?
The OTT subscription brands, such as Netflix, Amazon Prime and Disney+ are attractive because they allow the viewer to have complete control over the content, meaning that they can watch exactly what they want when they want and on the device they want, 24 hours a day.
Subscribers are offered an enriching form of entertainment that meets their needs much more quickly and effectively than before. And still, subscribers are fickle and disloyal.
According to the Singula Decisions report, the answer is that the modern OTT providers brands are narcissistic relators, too busy shouting what they offer to listen to what their subscribers actually want.
According to the book called “The 5 Love Language”, that can be applied here also, there are five ways that the OTT providers can utilize when approaching their subscribers to deepen the trust and satisfaction:
According to the report, in the first months of engagement with OTT brands, subscribers are most enthusiastic, but this is rarely taken advantage of by brands. In contrast, OTT providers remain focused on getting new subscribers instead of nurturing the existing ones.
In subsequent months, the five love languages elaborated above can easily be applied to the existing subscribers in order to increase customer satisfaction and minimize the churn rate.
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To request a consultation session with our specialist, or any additional question, please feel free to contact us. With our capacity to support IPTV, OTT, and DVB Hybrid services and the possibility of offering TV content on every device, anytime, anyplace, Beenius has what it takes for the launch of your successful OTT project.
The Beenius Team