Cord cutting is a great way to save money on TV. But, it requires you to be comfortable using new technology and to give up some programming to unlock the most significant savings.
Most cord-cutters rely on various streaming services to get their content. These include video-on-demand and live-streaming providers.
Cost
Streaming services are typically less expensive than traditional cable TV options. According to some studies, cutting the cord options can save up to $85 per month.
These savings, coupled with the ability to customize what they want to watch and eliminate ads, drive many consumers to cancel their cable subscriptions. This new group of consumers is called “cord nevers,” and they are poised to impact the future of television significantly.
For this reason, marketers need to consider the benefits of cutting the cord options in their marketing efforts. To do so, they must first understand what motivates these consumers to cut their cable service.
Typically, the people most interested in cutting their cable are financially conscious and tech-savvy.
Convenience
Streaming services offer an a la carte selection of channels from which to choose. It allows cord-cutters to skip over channels they don’t watch and save money over traditional cable TV subscription plans.
These streaming services include live TV. It allows cord-cutters to watch live events, sports, and news as it happens, making these options ideal for those who want a comprehensive entertainment viewing solution.
Streaming services come with fees, including monthly subscriptions and hardware costs. In addition, it is essential to have a reliable Internet connection so you don’t experience buffering or lag while watching.
Flexibility
The number of cable replacement services continues to grow, allowing consumers to tailor content according to their interests and preferences.
This a-la-carte approach appeals to many viewers as they can avoid paying for channels they don’t need or want, often costing less than a traditional cable TV subscription. In addition, cord-cutters can often save on equipment costs by using their smartphone, tablet, or computer to stream content instead of an expensive television set.
Many cutting-cord consumers also add an antenna to their setup, allowing them to view live television programming. This option is especially popular with cord-cutters who want to watch local news and sports broadcasts. These individuals, known as cord nevers, represent a growing American TV-viewing population, creating additional pressure on traditional pay-TV providers.
Engagement
As the cord-cutting trend continues to gain traction, marketers have an opportunity to rethink their approach to customer engagement. Instead of blanket advertising that reaches only a portion of its audience, marketers can use the power of Internet media to engage customers with valuable entertainment and drive them to take action.
This is a significant change from the days of bundled video content when audiences could access national TV networks through a single subscription. Fortunately, many options are available for consumers today, including ad-free online streaming platforms that offer a la carte channel selection. The result is more choice, better quality, and lower equipment costs. This is a win for both business owners and the consumer.
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