#contentrecommendation

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Exploring the Future of Content Recommendation Engines: Trends and Opportunities

Market Overview The Content Recommendation Engines Market is projected to expand significantly growing from USD 14 28 billion in 2024 to USD

[recosense-blog]

Content Recommendations on Media Websites

“Books/Movies/Shows like XYZ”. How many times have you Googled the above phrase to get suggestions on your next entertainment escapade? Probably often. There is a wealth of content available online, and no matter how many filters you apply, it is impossible to go through them all to find what suits your preferences. So naturally, we turn to friends, colleagues, or even technology for content recommendations.

They know what we have liked so far, so they can tell what we might like next!

What Are Recommender Systems?

A recommender system, or a recommendation engine, is an algorithm based on cutting-edge technology such as Artificial Intelligence (particularly Machine Learning), which utilizes Big Data and customer behavior to make relevant and customized recommendations. These suggestions could be based on factors like past viewership/readership, demographic information, and search history.

Typically, recommender systems operate on the following models:

Collaborative Filtering

Content-based Filtering

Demographic-based Filtering

Utility-based Filtering

Knowledge-based Filtering

Hybrid Filtering

Why Should Media Websites Invest in Content Recommender Systems?

On the surface, the role of content-based recommendation systems is obvious: to narrow down the selection pool and enhance the digital customer experience. Naturally, tailored content would birth better engagement (think of all the hours one spends binge-watching Netflix!)

However, it also adds more value to your media website in the following ways:

Better Retention: As consumers get to explore content that interests them, they are more likely to explore your collection rather than opt for your competitor.

Enhanced Engagement: As the media website continues to make relevant recommendations, it becomes easier to target them with fresh or recirculated content.

Build Loyalty: Customers appreciate businesses that value their time. Through relevant content recommendations, you save them from a long-drawn search process and cut right to what truly matters – content consumption.

Increase Sales: For media websites that run subscription services, content recommender systems can serve trigger cues that facilitate sales and upselling.

Scalability: Content recommender systems operate on customer data and match it up with automated metadata generation, making it easier to scale up or down depending on the number of users.

Recycle Content: Content-based recommendations not only add to the digital experience but also capture highly specific interests of the user, and recommend niche content that very few other users may have an interest in.

How Can Media Websites Deliver Content Recommendations?

So, how do we integrate content recommender systems on your media websites? Here are a few use cases to get you started:

Suggest the Next Article or Blog Post

The struggle is real – a user visits your website, consumes a specific content, and leaves never to come back! Encourage them to read your other posts by suggesting highly-relevant blog posts and articles to each visitor.

Suggest Similar Content Assets Across the Website

Media websites that are focused on demand generation can offer other types of relevant content such as case studies, videos, and white papers to their visitors. But who goes around looking for these, right? A suitable strategy, in this case, would be to recommend this content as additional resources for their area of interest.

Make Search More Efficient

On several occasions, users who make use of search bars are looking for specific content. Obviously, they would not enjoy sifting through tons of content to locate what they seek. Websites, to aid these users in this quest, can suggest the most relevant content for every individual as they search.

Allow Users to Bounce Back to Previously-Viewed Content

Adding a feature along the lines of a “Recently Viewed” tab can make it easier and more efficient for the visitors to locate the content that they may have engaged with recently. As a result, they can effortlessly pick up from where they left off.

Incorporate Dynamic CTAs

Your media website may promote certain content on the homepage or any other prominent location on the landing page. But what happens after the user has already consumed that content? You wouldn’t want to miss out on an opportunity to engage them with something else and waste it on continuing to promote the stale content! Through a content recommendation system, you can replace it with new and meaningful content that will guide them down your website’s rabbit hole!

Final Thoughts

Content recommendation systems offer a unique opportunity to add value to digital customer experience and user satisfaction. However, companies must also add creativity to their algorithms to help users discover other aspects of your website.

So go ahead, and get recommending!

[recosense-blog]

What Kind of Content is Trending Among Millennials on Digital Platforms

According to a study by eMarketer, 64.8 Mn millennials are expected to watch digital video at least once in a month. This figure is expected to rise year over year across the globe. Research studies are increasingly suggesting that millennials are moving away from traditional TV and learning more against digital media platforms. The same research pointed out that video consumption numbers are steadily growing from 64.2 Mn in 2018 to 64.8 Mn in 2019, and 65.1 Mn by 2020.

But, what are they necessarily into? Let’s delve into types of content millennials appreciate on digital platforms

News: Millennials follow different style of watching videos and reading articles online compared to the generation X and baby boomers. The most popular type of content is News and millennials prefer to watch online videos to stay up to date in this competitive world. 94 % of millennials in US are more comfortable using smart phone for all their content browsing needs. The content consumption again differs from male to female but the most challenging part is to enable millennials to find what the content they are looking for. Incorporating user persona will help to target the customers and to deliver the personalized content.

Entertainment: Many on demand streaming platforms launched in recent and focuses on non English content exclusively original shows, movies, live events, TV series and entertainment content etc. Digital platform helps millennials to watch the content as per the convenient time and the content what they are interested. In US millennials prefer to watch the live events and other entertainment content like comedy shows etc in weekends.

Sports: Millennials watch sports? Yes millennials watch sports but the content crave for millennial is different from the traditional way, millennials also like to watch sports documentary movies digitally to know the history of real show. 65% of US millennials say they binge-watch blocks of videos at least once a week. The number of millennials watching the NFL increased compared to previous seasons. Sony India’s, SonyLIV  is also not behind by providing live streaming of football tournaments like the UEFA Champions League, La Liga, Serie A, Ligue 1, UEFA Europa League etc. If we connect and engage millennials with relevant sports content digitally to have a cohort of sports fans in hands.

Apart from these categories millennials like to watch entrepreneur content, fiction content and product related videos etc on digital platform.

Live Streaming Content

According to the Recording Industry Association of America, 75 percent of the music industry’s revenue comes from streaming. It is also expected that the role of video streaming will continue to expand in the music industry. Before live streaming, even sports fans had only two choices for live viewing: either buy expensive tickets to attend events or watch limited sportcasts on TV. Now, with over-the-top sports, fans have convenient and affordable access to local and international sports events.

With live video and viewers poised to stream, share, and engage with sports worldwide, content providers can enhance the overall experience with contests, special promotions, fantasy experiences, continuous interaction, and more.

Live streaming allows for media delivery by scaling to millions of users without compromising on the quality viewers expect. It’s no surprise that live streaming content is enabling music, sports, and event live content delivery through popular demand. The proliferation of digital media platforms has led millennials to ditch the traditional television and find what they love to watch, over the Internet.

But, are they effectively able to find all the media they would like to consume?

The challenge of discovering the right content is real.

Over half of the consumers, 55 percent, are searching for a new movie to watch at least one every week. And 83 percent of consumers are searching for their favorite kind of content a few times each month. But, nearly two-thirds of users are struggling to find something that sparks their interest. These statistics come from a new report from PwC- which surveyed 1,000 digital media consumers between the ages of 18 to 64 and asked about the challenges they face in discovering the content of their interest.

The survey reported that 79 percent of consumers had watched a movie or TV show solely based on the recommendations of their content service, and 90 percent said they liked what was recommended to them.

If entertainment and media companies are to win the digital race, they need to focus on a critical pillar- content discovery. AI and analytics can help media companies make relevant content discoverable for their target audience. Content recommendation and personalization are key components of a successful media distribution strategy.

MediaSense is a product that employs artificial intelligence to personalize the experience for consumers and recommend content to them based on many factors. By doing so, you can enhance the experience of your consumers and make them stick around longer while offering content that interests them.

[recosense-blog]

5 ways to boost your user engagement by up to 25% using Artificial Intelligence (AI)

Increased availability of internet access and reduced data cost has lead to a surge in digital content consumption over the past couple of years. There has been a drastic downfall in the percentage of people preferring to consume content on TV versus mobile device from 53% to 23%. This inevitably has caused a significant growth in on-demand, online content that’s available anywhere, anytime.

The change from content being consumed on traditional channels as TV versus online on digital media platform (via mobiles, tablets etc.) has been in quick succession. This highlights that the consumers today control what they consume, when and how. In this scenario, striking the right balance between user acquisition and retention is something that all the OTT service providers should aim for. Below are the top 5 ways for OTT service providers to boost their user engagement using Artificial Intelligence (AI)

1.Driving content discovery by achieving personalization at scale

It’s crucial to personalize user experience on as well as off platform. While when it comes to personalizing on-platform user experience, the digital media platform should use Artificial Intelligence technology to get information pertaining to user behaviour, demographics etc. basis which it can suggest the titles relevant to the users. In addition to that, Artificial Intelligence can be used in to send targeted message notifications, social media notifications, programmatic, etc. to the users off-platform.

2.Delivering live updates to relevant target audience in real time

Delivering messages in real time is a crucial strategy if any OTT service provider wants to expand their user base on their digital media platform. As an example, if the provider observes that certain event or program has been watched by a user previously, then using this observation they can send live notification to that user when the next time an event of similar nature takes place. This will propel them to log in to the app or digital platform and watch the live streaming event. Thereby increasing the chances of bringing the viewer online on the digital platform and maximizing their on air time.

3.Targeting the right user with the right content at the right time

A good conversion strategy involves targeting the right user with the right content at the right time. As an example, for a digital movies and entertainment channel, this would involve understanding the predominant genre preferences for their users, identifying their primetime viewers as well as the segments which per the analytics seem to be of potentially at-risk of dropping-off the app or the digital media platform. Perhaps, it’s indicative that it’s time for them to plan and execute a compelling win-back campaign. Segmentation based on user interest and personas to prevent brand dissonance from viewer’s minds.

4.Gaining an in-depth understanding of your users

By understanding of the user demographics, geographic and device specific information and their behaviour, the OTT service providers can use it to do dynamic market segmentation. It is also very important for understanding the user’s activities, actions and even in-actions, and basis that develop specific user engagement strategy. Once certain degree of predictability is built around user behaviour, and then the platform marketing team can create and execute user persona specific engagement strategy to keep them hooked and even turn the earlier casual customers into brand advocates.

5.Embracing the power of marketing automation

Embracing and increasing marketing automation is very important and demands user engagement at every possible moment. Adopting and implementing the right marketing automation allows you to reach and connect with diverse user engagement with the right message at the right time. A digital media platform stack that’s scales with their scaling user base. This should go hand-in-hand with the provider’s user journey and the evolution of their product.

The above are the top 5 ways for OTT service providers to boost your user engagement and we at RecoSense, provide all of the above features through our cutting-edge AI Ominchannel platform offering to provide personalization and content recommendation, that has proved have increased the user engagement for our clients by up to 25%. It’s time that you should test AI powered marketing automation for your OTT service too. Are you ready?

[5thingswearetalkingabout]

Yoav Tourel, Head of Account Strategy, Australia & NZ, Outbrain speaks about:

Online Ads vs. Branded Videos for brands

How Outbrain works for branded videos (prime time, large scale, premium environment, brand safety, ROI)

Best practices: examples of brands that have created great video content

Skip to 3:33 for the start of the webinar. 

(Originally posted on Mumbrella Asia)