OTT Advertising for Personal Injury Lawyers - PIMM 53

Today we are going to take a deep dive into OTT advertising for personal injury lawyers. We will cover the basics of what OTT advertising is, how much it costs, how to get started, and some tips on making effective OTT campaigns for personal injury lawyers. What is OTT Advertising? Basically, OTT advertising means having an ad on a streaming service. Over-the-top refers to the delivery of video content in a way that bypasses traditional television channels. The OTT platforms are generally streaming services or apps. While there are over 350 independent OTT some of the biggest names are: Hulu Amazon Prime Video Netflix Disney Plus Peacock Paramount+ Apple TV and more Benefits to OTT Advertising: People are watching. I would place a conservative guess that at least half of our listeners have canceled their cable subscriptions. At our house, we have Hulu, Amazon Prime Video, Disney+, ESPN, Peacock, and pretty much everything other than cable. So, people are watching. Also, since people go in and hand pick what they want to watch, fewer viewers are flipping channels during commercial breaks. Audience targeting. What is really cool about advertising through these streaming platforms is that you have much more control over who is watching. Unlike traditional cable ads that go to everyone across the nation who is watching a show, you can pinpoint your target market by location, age, interests, demographics, etc. This is huge. HUGE! Think about it…if you want to target more bike accidents, you can create commercials that are all about how to help bike accident victims and have them directly go to people who have a noted interest in cycling. Or pair a motorcycle accident ad with people who like to watch shows about tricking out their choppers. If done right, the possibilities are endless. If done wrong, the investment is pointless. So please, please don’t invest in a blanket personal injury video and blast it out to all of America and expect to get cases. Analytics. Another benefit of OTT advertising is that you can get some detailed analytics and reporting to track your ad performance. Most platforms offer metrics on impressions, completion rates, and click-though rates (if you enable interactive ads). This can help you evaluate your ads and make data-driven decisions for future campaigns. How Much Does OTT Advertising Cost? Since many of the streaming services are individual entities, they are naturally all at different price points. Also, the more you define your target market, the higher the cost of running the ad. OTT ads are priced on a cost per thousand impressions basis. This is generally noted as CPM. So, if an ad has a CPM of $10, you are paying a penny every time someone views the ad. Hulu tends to be the among the most expensive with rates falling between 20-40 CPM. Their ad inventory is relatively limited, and their audience tends to be more engaged than other services, so they can charge a premium price. YouTube TV has a lower CPM, typically between 10-20 CPM, even though they still have a large audience. Other streaming services like Sling TV, Roku, and others with smaller audiences might h