TV Everywhere: Cutting the Cord on Cord Cutters
TV Everywhere (TVE) is a growing trend among customers that is projected to increase in popularity. According to the U.S. Digital Video Benchmark report by Adobe, TV Everywhere video consumption grew 246% year-over-year across devices. In fact, 21% of pay TV household in the U.S. now access TVE content across devices and browsers, with an increase of 31% over the last six months.
While pay TV operators have found it challenging to monetize TVE, it is proving to be a valued feature and often a deciding factor in subscribing. According to a study by Viacom, 98% of users report that TVE adds value to their pay TV subscription. More importantly, 93% of respondents stated they are now more likely to continue with their provider because of TVE. With that figure in mind, pay TV operators can utilize TVE to their advantage through content, user experience and market education.
Provide customizable content
With a user base that is more mobile than ever, access to content from anywhere is now considered a must have. Customizing the TVE content is key to keeping these users engaged. With the addition of content not typically provided through a pay TV subscription, operators are finding increased retention rates.
Additional news and sports content have proven to be popular TVE categories, offering links to related stories, additional video feeds and a selection of specific content based on preferences. A successful app, such as CNNgo, has proven that using social media connections and transmitting real-time breaking news with a vast array of bonus content can create a powerful application that users not only want to use – but find it hard to live without.
Create a consistent, simplified user experience
Ultimately, the TVE app user experience is a key component associated with customer retention. “It’s everything from how consumers are welcomed to a site, to how they authenticate, how they stay authenticated, and the actual iconography itself — what they see visually that steers them to understand how to work with the app. Together, they form a consistent experience,” says John Lansing, CEO of the Cable & Telecommunications Association for Marketing.
The user experience must also include removing the barriers that diminish the TVE experience for the user. According Viacom, loading and buffering issues – in tandem with crashing or freezing – each account for a quarter of survey respondents’ issues. A good user experience can deteriorate quickly when barriers to ease of use get in the way. Anticipating and finding ways to remove and/or avoid such technological hurdles can help create a seamless user experience.
Increase marketing and publicity of TVE
Using a “build it and they will come” approach may not yield the best consumer take rate for TVE. According to Viacom’s previously mentioned study, there is a general lack of understanding about what TVE entails, how much it may cost in hidden fees and the services that it offers. A beautifully designed app may help retain TVE users, but detailed consumer marketing is further needed to educate the masses and draw them in.
Operators have found that the benefits of increasing their focus on retention and customer satisfaction using TVE as part of this effort have begun to outweigh just considering it as an additional revenue source. Combining data and analytics with this effort can also provide operators a way to further customize the apps to the needs of their users. With additional offerings that reach users anywhere with customizable content, positive results on customer retention rates are bound to follow.
Image Source: Big Stock
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