How Connected TV Ads Help SMBs Recover from Crisis
At the start of 2020, two thirds of small and medium-sized businesses (SMBs) expected to see revenue growth this year. The Covid-19 pandemic changed those plans and upended marketing strategies for several months. But as enterprises across the country start to reopen in a brave new world, they need to take advantage of all the advertising tools at their disposal.
One medium that will be especially helpful in this regard is connected TV (CTV). About three quarters of households own connected TVs, so SMBs can easily reach the public through this ad-supported medium as life returns to normal.
There are many opportunities to excel both in the current and post-pandemic marketing landscape, but businesses will only be able to take advantage of them if they intelligently create demand. Because of this, SMBs should use audience and measurement data to inform their CTV advertising strategies as markets reopen.
Customers Ripe for the Taking
CTV allows budget-conscious consumers to access a plethora of free, ad-supported channels without a cable subscription. Viewers working remotely during the pandemic have embraced this technology, tuning into shows across every genre and day part. Primetime is now all the time.
These consumers are also actively seeking technology-enabled tools to assist in everyday tasks. Many are utilizing services like mobile ordering or in-app purchasing for the first time during the age of social distancing, relying on the businesses offering those amenities.
While Covid-19 brought on this change in retail habits, customers will ideally remain loyal to the SMBs that helped them get through the pandemic long after it ends. Retailers should, therefore, jump at the chance to attract these new consumer bases. CTV ads are a cost-effective and scalable way to achieve this goal, making them a crucial tool for any brand.
SMBs can take advantage of addressable data and invest in memorable spots aimed at specific demographics and marketplaces. By utilizing smart strategies, they will deliver relevant content, expand the visibility of their businesses, and be able to measure its impact.
Staying on Target
Contextual CTV campaigns now offer improved audience targeting and performance. Transparency and visibility are also getting much better as buyers and sellers vet inventory more closely using real-time attribution. Marketers who employ digital identity resolution to get a full understanding of consumer journeys can then pass that information on to SMB clients.
Cross-screen household-based measurement solutions are especially valuable in this shifting landscape because they allow businesses to easily track connected viewing statistics and understand users’ buying habits. Connected TVs enable marketers to target the right audiences at the right time and turn viewers into lifelong customers.
SMBs with access to these detailed, actionable insights can also manage how often they run spots to ensure they are not over-targeting or wasting money. By partnering with smart marketers and putting intelligent strategies into practice, they will understand audiences in new ways, strengthen their product positioning, and attract viewers who have shied away from traditional media.
Just 7% of U.S. agency and marketing professionals retained regular ad spend for linear broadcast and cable TV spots during the pandemic. The impacted companies need to reallocate budgets thoughtfully because they will only successfully grow their consumer bases if they have a plan.
For SMBs, that means investing in connected TV. It is the missing piece of the puzzle that offers targeted high quality inventory efficiently. SMBs that embrace CTV ads will thrive in the aftermath of Covid-19.
Josh Hare is SVP of sales at Viant.