OTT Churn Management Strategy Consultant
OTT Service Churn has increased from 28 percent year on year. The OTT Video Market is evolving and becoming more competitive daily, wherein OTT service providers have started to focus on maintaining and engaging subscribers by acquiring them.
Churn Management in the OTT industry includes content and service optimization on various levels. To reduce churn, service providers need more than offering personalized customer service reps, considering the points of static set-top boxes and complex cancellation procedures.
I am an all-around OTT Churn Management Consultant; I can help you productively optimize your OTT content.
You Will Now Meet the Best OTT Churn Management Strategy Consultant!
What Is the OTT Churn Rate?
The churn rate is the number of OTT Service subscribers who have canceled or are waiting for their subscription to lapse. They are placed in either of these two categories:
Voluntary Churn:
These types of subscribers cancel their subscriptions on purpose. For example, subscribers who have subscribed to a channel to binge-watch a series opt to sign out when they are done watching.
Involuntary Churn:
These types of users churn out involuntarily or unintentionally. They do so when their payment method is declined or expired.
I am an expert OTT churn management consultant. My special services can help you optimize your content and grow in the market without a second thought.
How do you maintain a low churn rate for an OTT platform?
No wonder every big OTT player invests heavily in user experience and original content. Nevertheless, successful OTT brands are the ones who know the process of reducing churn rates.
They are successful in the OTT space because they can lower the churn rate, which is lower than that of other subscription-based service models.
OTT players mainly focus on acquiring new users; however, they forget to consider the churn of old users once the free trial is over.
Implementing a proper churn reduction strategy has become the need of the hour.
I am an experienced OTT Churn Management Consultant who can help you grow your OTT channel through various advanced strategies.
Understanding OTT Churn Metrics
It would be best if you segmented the user’s involuntary and voluntary churn by analyzing the subscriber’s management dashboard to identify your churn rate. You also need to explore every category with a different marketing approach.
Service providers must compare the conversion and acquisition rates with the monthly churn rate to optimize OTT channel performance.
If your churn rate is stable and you can retain old users, you must only focus on acquiring new ones. The churn must not go up or stay around 20 percent, which is a problem to be solved.
Successful OTT players know to check their analytics and identify user demographics to produce better content.
For example, binge-watchers have different tastes than weekend users. Therefore, audience segmentation and content production have become essential for OTT players.
The Key to Reducing OTT Churn Rates
Reducing Involuntary Churn
An OTT player must partner with an automation service provider to reduce involuntary churn. However, this may seem like a small thing, lowering the churn rate by 1 or 2 percent can help you generate more revenue through OTT content.
Reducing Voluntary Churn
Numbers can grow when you productively manage the churn rate. To reduce voluntary churn, it is essential to address the following issues:
Content:
You need engaging, informative, and creative content that is always running in your library. Stagnant content will bore your users, and they will start to unsubscribe.
User Experience:
It is essential to have a user-friendly dashboard so users can navigate across the channel and app smoothly. The churn rate will increase if users cannot locate the content or have difficulty finding it.
Engagement:
Engaging with your users is equally essential. Building engaging content and informing users through push notifications will decrease churn.
Understanding the Definition of OTT Churn Rate
With any of the newly launched OTT services, and amongst the OTT behemoths who have been a part of the block several times, the focus lies entirely on gaining new users.
Usually, OTT players focus too much on acquiring new users. However, what is the use of having such users who will pull off once the free trial period is over?
Therefore, you need to focus on reducing the churn rate first.
I am a skilled and professional OTT churn management consultant. With my expert and productive services, I can help you grow your OTT channel.
Reasons Why OTT Subscribers Step Out?
Here are the following reasons why OTT subscribers unsubscribe:
- Expensive subscription fee
- Bad User-experience
- Static content library
- Payment method expiry/declination
I am an OTT churn management consultant. I can help you retain your subscribers and quickly acquire new users.
Reducing Churn Is All about Improving Engagements
To reduce the churn rate of your OTT platform, you need to focus on user engagement by considering the following factors:
- Analysis of user behavior
- Communication and engagement with subscribers regularly
- Recommend and promote your best content
I am an experienced OTT churn management consultant who can optimize your OTT channel, resulting in tremendous growth.
Strategy Implementation to Reduce Churn in OTT Video Services
To establish new OTT services, brands focus on user acquisition models rather than churn management. However, you must concentrate on churn management to retain your old users from the beginning.
Every organization offering OTT services must focus on Churn Management and develop a strategy to reduce churn.
I am a professional OTT churn management consultant who can offer result-oriented churn management services to grow your business.
Let’s Wrap Up!
It is essential for every organization offering OTT service to focus on churn management along with customer acquisition. There is no hard-and-fast rule for churn management. However, it is better to implement new ideas and experiment regularly through split testing and monitor the churn data.
It is advisable to test, innovate, experiment, and optimize channel algorithms to engage users and retain them for longer.
I am an experienced OTT churn management consultant who can help you grow your OTT channel like never before.