How Does Quality Relate To Value When It Comes To OTT Content?

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When it comes to OTT content, businesses providing quality services and products have better chance to gain new over-the-top content. Many companies overstate the quality of their service which usually brings bad customer experience.
Read to know the correlation between proving quality and business revenue.

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How Does Quality Relate To Value When It Comes To OTT Content?

  1. 1. 1 How does quality relate to value when it comes to OTT content? © 2015 Vindicia, Inc. All rights reserved. Vindicia Confidential.
  2. 2. 2 How does quality relate to value when it comes to OTT content? © 2015 Vindicia, Inc. All rights reserved. Vindicia Confidential. The best way for a business to gain new over-the-top content subscribers is by providing a valuable product. With the rapid development of new audio and video capabilities, it seems the definition of value is only expanding. Virtual reality and 4K quality video all appear to be promising developments that will enhance the consumer experience, allowing fast-acting businesses to quickly gain the upper hand on their competitors. "Businesses must make sure they're doing all they can to meet the expectations they've set for themselves." However, businesses must make sure they're doing all they can to meet the expectations they've set for themselves. Recent research revealed many companies overestimate the quality of their online experience, which diminishes the overall value the customer receives. Value is about quality and convenience. If a business lacks in one area, customers will likely cancel their subscriptions and head somewhere new. Do businesses provide consistent quality? According to the 2016 Digital Experience Report, a survey conducted by the analyzing company Actual Experience, business leaders understand that there is a correlation. between quality and the customer experience. Ninety-three percent of respondents said the customer's digital experience is important to their business's success, and 78 percent admit to often switching brands themselves because of a poor one.
  3. 3. 3© 2015 Vindicia, Inc. All rights reserved. Vindicia Confidential. Meanwhile, 56 percent believe poor quality leads to customer churn. Other consequences of poor quality included an increase in complaints and a loss of revenue – possibly through cancelled subscriptions. Unfortunately, it seems as though businesses aren't measuring up. More than half believe their customer's digital experience is excellent – 54 percent, to be precise – but only 22 percent said this experience was consistent and high quality. Meanwhile, 78 percent admitted to inconsistency, in regards to their digital quality experience. "Providing a consistent quality experience is an important goal for any business." Value is more than quality Providing a consistent quality experience is an important goal for any business offering web-based services, but it's not the only thing to focus on. The music streaming service Tidal is proof. The Wall Street Journal recently reported that Apple is in talks to buy the company, which markets itself as the highest- quality music streaming option available. Although some insiders claim no such talks have taken place, a rumor isn't good for Tidal's image. The company went through three CEOs in less than a year, and consumers are frustrated by its high subscription fees and issues with charging cancelled accounts. As TechTimes reported, many customers found Tidal had randomly charged their accounts months after they hand cancelled.
  4. 4. 4© 2015 Vindicia, Inc. All rights reserved. Vindicia Confidential. Tidal offered three free months of its premium subscription as an apology, but in doing so reactivated user accounts, ensuring cancelled subscribers would be automatically billed again once the free service ran out. Although the expenses reflect the high-quality sound Tidal provides, this gain wasn't enough to satisfy certain customers. By not providing a seamless, convenient refund experience, Tidal decreased the value of its offer and angered consumers. Tidal is a great example of why hype and quality alone can't keep a business out of hot water. Organizations that use subscription billing to monetize their online services must also add customer convenience into their mix.
  5. 5. 5© 2015 Vindicia, Inc. All rights reserved. Vindicia Confidential. About the Author: Bryta Schulz Bryta joined Vindicia in 2013 and serves as Senior Vice President of Marketing. She is responsible for building brand awareness, creating go-to-market strategy and promotion, and driving growth. With over a decade of executive level marketing, product management and PR experience, Bryta has led marketing teams in enterprise technology and SaaS companies. Her experience includes heading product marketing at GoGrid, PGP, RSA and Symantec and business development and product management positions at Xcert, Thales, and Persistence Software. Bryta holds a MA in Translation from the Johannes Gutenberg University Mainz and an MBA from the University of Reutlingen. Visit our Blog for more information.
  6. 6. 6 Like us on Facebook facebook.com/vindicia Follow us on Twitter @Vindicia Connect with us on Linkedin linkedin.com/company/vindicia Thank You © 2015 Vindicia, Inc. All rights reserved. Vindicia Confidential.

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