In the old set-to box days, for one to cancel their service, they had to jump several hoops. The freedom of managing your account with the OTT services is why most people are choosing to use them. However, that means the clients can cancel their services with just a few clicks. If you are running an OTT company; therefore, you need to strategise on how you will keep the consumer subscribed to your services. You can use the guidelines provided below to ensure you do not have a high OTT churn.
Learning how to predict the loyalty levels of your consumer is the first step to take. Ensure your firm can identify the accounts that are in risk of churning even after you have acquired a substantial amount of users. Machine learning algorithms can use the actions of others to identify those individuals who are likely to churn. Once a subscriber chooses to use your OTT service; these algorithms can be used to examine if they are happy with their experience. The possibility that someone chooses to leave the service can then be predicted.
It is also good to understand why each consumer churns. In as much as you need to know who is churning, it is also good to understand the reasons why they churn. Using an AI can help your team know how the practices of loyal users compared to the behaviors of the individuals who cancel. With that information, the firm can now put their focus on the vital metrics and experiences. For instance, you can find out the kind of content that most of the loyal users are watching. Therefore, you will be better equipped to get the content that will keep people from churning. Find the best SVoD analytics services or find a great guide for att analytics.
Even before a user cancels, you can keep them engaged. The good thing about having an AI, is that you can predict who will churn from the services. That means you can keep the users subscribed to your OTT firm by proactively engaging them from the word go. When the AI send a prediction of someone who is almost churning, you can offer them a discount of the service. The key is to find out who are the most loyal and the least loyal users of your service. That way, you can keep these groups uniquely engaged with the content that will maximize their loyalty.
Understanding the return on investment of licensing or creating new content is also something to find out. It is costly for you to license or come up with your content. You can find out the ROI you will get by adding new content to your service using an AI. That way, you can differentiate the content that drives one-time users and long-term clients. You can read more on this here: https://www.huffingtonpost.co.uk/brian-suh/big-data-heroes-hiring-an_b_6152828.html.