With over 20 years of experience in the video streaming industry, I have a deep understanding of the importance of maximizing Average Revenue per User (ARPU) to stay ahead in the increasingly crowded and demanding TV market. One of the most effective ways to achieve this today is by utilizing AI-powered upselling strategies.
AI-Upselling Strategies
Upselling is the art of encouraging customers to purchase higher-priced or upgraded versions of products or services they are already interested in. In the context of video streaming, this could mean suggesting premium content or subscription tiers to viewers at the right moment and through the right channels
AI-powered upselling is a powerful tool that can be effectively leveraged in a variety of scenarios, here are just two examples of its use:
The InPlayer zone power-up for maximizing upselling opportunities
Picture this. The 2022 Qatar World Championship is in full swing and your soccer-loving customers are tuned in to the big game. Half-time break hits and what better way to capture their attention than with a personalized sports package offering tailored to their ultimate soccer experience!
Utilize data-driven targeting strategies to reach your audience through various channels, such as email, push notifications, SMS promotions, and social media ads, based on their device usage and preferred consumption patterns to maximize the impact of your marketing efforts.
Maximize the value of your converted subscribers by implementing a personalized experience strategy utilizing machine learning algorithms. This approach not only enhances their experience but also promotes the discovery of new content tailored to their viewing history and preferences, resulting in increased retention of your newly converted subscribers in their new package.
Leverage your existing subscriber base to increase SVOD revenue by aggregating third-party streaming options
As a TV operator, UFLIX TV can enhance its subscription packages by including popular streaming services like Netflix and Disney+. Utilizing upselling strategies in various scenarios, UFLIX TV can increase its revenue potential and provide a more comprehensive viewing experience to its audience.
One example of how AI can be used effectively in marketing is by targeting customers who have subscribed to Disney+ but not as part of the UFLIX TV tariff. By using data to identify these users and personalizing messaging to highlight the benefits of upgrading to the UFLIX TV tariff that includes Disney+, you can drive upsells and increase revenue.
Once customers have subscribed to the Disney+ package, leveraging AI-driven content recommendations can increase engagement and retention by showing them personalized content from Disney+.
As a marketing expert, another effective use of AI-driven upselling is targeting customers who have not yet subscribed to Disney+. Utilizing real-time data, you can identify these customers while they are watching movies from Disney on your video catalog, and offer them personalized promotions for relevant Disney+ subscription packages during the credits. By tailoring the offer to their specific viewing preferences, you can increase revenue and customer satisfaction for your business.
Another example of how AI-driven upselling can be effectively leveraged is by identifying customers who have not yet subscribed to streaming services like Netflix through UFLIX TV and targeting them with personalized promotions. By analyzing real-time data on their viewing habits and device capabilities, you can offer them the optimal package tier, such as SD, HD, or UHD, based on their consumption preferences and device availability.
These are a few ways in which AI can be incorporated into your video streaming service’s upselling strategies, but the possibilities are endless, be innovative.
Don’t wait any longer, take action NOW
In 2023, video streaming services have the opportunity to skyrocket subscriber retention, engagement, and average revenue per user by delivering exceptional value. While top-notch content remains key, it’s all about cleverly showcasing and packaging that content to truly stand out and keep subscribers coming back for more.
Reach out to us and speak with our specialists to go over a comprehensive set of upselling techniques and technologies that have been successful for our clients’ top video streaming services globally.
LinkedIn: https://www.linkedin.com/in/jmacanas/
