Are you a marketer looking to boost business sales and customer engagement? Have you
heard of Transactional Video on Demand (TVOD)?
It might seem like just another acronym — we’re looking at you, SVOD — but it’s one worth paying attention to.
For marketers, TVOD offers an excellent opportunity to unlock new revenue streams and customer acquisition. In case you’re not familiar, TVOD allows customers to purchase or rent video content on a one-time basis.
But can it work for you? In this post, we’ll explore the potential of TVOD and how it can be used to grow your business.
What is Transactional Video on Demand?
Transactional Video on Demand (TVOD) is a distribution model where viewers can rent or
purchase digital content on a pay-per-view basis.
Unlike subscription services like Netflix and Hulu, TVOD gives users more control over their viewing experience. They can choose what they want to watch and when they want to watch it, only paying for what they view.
TVOD is often used for releasing newer, high-profile films or for providing exclusive content.
Services like iTunes, Amazon Prime, and Google Play Movies offer all kinds of TVOD options for their customers.
How TVOD Helps Enhance Your Content Strategy
TVOD provides an effective way to monetize premium content. By offering viewers the option to pay for content on a per-view basis, you give them more control over their viewing experience while generating revenue for your content.
Unlike subscriptions, TVOD offers a way to earn revenue on individual digital pieces, which allows for more diverse revenue streams.
Plus, TVOD allows you to provide exclusive content to your viewers. You can create a value proposition by offering content that cannot be found elsewhere — or you can collaborate with influencers, work on brand-sponsored content, and even try to create episodic content to retain consistent viewership.
You can also use TVOD to launch new products or services and gauge user interest in them before going all-in.
Leveraging the Power of Personalization for Increased Engagement
Personalization is an essential aspect of TVOD. TVOD services gather extensive data related to user behavior and preferences, and you can draw insights from that data to determine what content resonates with your viewers.
You can then use that information to deliver personalized recommendations and content tailored to a specific audience. This personalized experience enhances user engagement and boosts revenue for content producers.
To provide a more personalized experience, you can use machine learning and algorithms to analyze user behavior and preferences. Use those insights to recommend content that a viewer may be interested in and use playlists to provide multiple content options.
The better and more personalized experience you deliver to your user, the more likely they’ll be to continue using your TVOD service.
The Benefits of Using TVOD to Drive Revenue Streams
Unlocking the full potential of TVOD provides substantial benefits to content marketers.
For one thing, you can create an additional revenue stream by charging viewers for content instead of providing it for free.
With only limited investment, you can launch a TVOD platform and attract people with new,
exciting content. It gives you exposure to a mass audience, which, in turn, creates opportunities for partnering with top talent and brands.
TVOD also allows you to focus on high-quality content, providing the best chance to maximize your ROI. With user data helping you turn the best version of your content into an optimized product, you’ll be able to attract more viewers and generate more revenue.
Best Practices for Optimizing Your TVOD Experiences
First things first, your TVOD content must be high-quality to provide your viewers with an
excellent experience. Poor video or audio quality will quickly discourage your audience and cause them to lose interest.
Again, personalization is key to creating a successful TVOD experience. Use viewer data to offer personalized content recommendations based on their previous viewing history.
Also, incorporate features that allow viewers to save, pause or resume their content, and create watchlists and custom playlists. By providing a personalized experience, you build relationships with audiences, retain their loyalty, and drive repeat purchases.
Another tip –- collaboration is key.
Collaborating with influencers or using their content can helpy ou expand your TVOD audience base. Look for influencers in your industry and partner with them to promote your content to a broader audience. On the other hand, you can use their content to enhance your TVOD offerings, giving your viewers more value and engaging them more deeply.
To optimize your TVOD experience, you need to understand your audience’s behavior. Data analysis helps you track the number of views, watch time, and other performance metrics.
You can use these metrics to identify popular content, which can inform your programming and production choices. This information can also help you figure out the best time to offer promotions or reduce prices to boost conversions.
TVOD can be a valuable tool for marketers looking to monetize their premium content, drive user engagement, and enhance their content strategy.
By leveraging the power of personalization — and following these best practices for optimizing your TVOD experience — you can unlock a significant revenue stream while providing viewers with high-quality, tailored content.
Get started today!