1. A method, comprising: receiving a host content at a watermark extractor device; obtaining, at the watermark extractor device, information indicative of a ranking of a plurality of watermark payload values, the information designating each watermark payload value within a first subset of the plurality of watermark payload values as having an associated rank value; based at least in-part on the information indicative of the ranking, configuring the watermark extractor device to prioritize resource allocation for extraction of payload values that are designated as belonging to the first subset over payload values that are not designated as belonging to the first subset; and extracting a payload value from one or more watermarks embedded in the host content, wherein extracting the payload value comprises: comparing a candidate watermark payload value obtained from the host content to a plurality of constructed error correction code watermark payload templates corresponding to each of the watermark payload values in the first subset, producing a plurality of error counts, each error count representing a count of mismatched symbols between the candidate watermark payload value and a corresponding constructed error correction code watermark payload template, and identifying, as the extracted watermark payload value, a watermark payload value that corresponds to the smallest error count, and wherein the extracted payload value is one of the payload values designated as belonging to the first subset.