With lots of opportunities to reach new audiences and so many options for targeting and optimization, some marketers are understandably intimidated and not sure where to start. To help brands who are new to the space, here are six questions to ask when considering dipping your toes into the performance CTV space.
Research from eMarketer shows that advertisers spent $10.3 billion on connected TV programmatic display ads in 2021, an 82% increase from the year prior. But what they got in return is anyone’s guess. For all the advancements in digital marketing, CTV advertising still remains an opaque space where advertisers know little about the shows or other ads their spots are running against. This can lead to wasted budgets, ad frequency issues, and even fraud.
From an advertising standpoint, OTT has some inherent advantages, especially for performance marketers. In the linear world, advertisers have to find programs or channels that over-index against the desired audience. On OTT, this audience filtering is done pre-bid. That means if you want to reach audiences who are in-market for a product or service, you can use real data to reach that exact audience with very little waste because of the dynamic ad insertion.
TV ads are delivered to consumers in a clutter-free environment, where the consumer is usually in a “leaned back,” focused state of being. TV ads are often delivered via 60″+ TV screens with full surround-sound audio, creating an immersive “sight, sound, motion” impact like no other medium. Of course TV drives better recall! And if TV ads drive better recall, basic logic would conclude that TV ads also drive better consumer response.
One of the earliest frontrunners in this race for market share has become Innovid, the CTV advertising delivery and measurement platform. With the ticker symbol “CTV,” Innovid is now branded as a pioneer, a label that CEO and Co-Founder Zvika Netter isn’t shying away from.
Clinch, an omnichannel AI-powered personalization platform, launched Thursday morning a hyperpersonalized advertising product that brands can use to convert offline and app-based promotions to digital, social, video, and connected TV. The ad format allows for real-time personalization and contextual optimization in CTV ads.
With explosive growth, there always comes a bit of a learning curve. Navdeep Saini, co-founder and CEO of DistroScale, the parent company of DistroTV, explains how the pandemic accelerated streaming TV market growth and what advertisers should be aware of as we approach 2H planning.
As technology has vastly increased the degree of targeting granularity marketers can achieve, there’s been a tendency to think of the customer journey as a solo endeavor. But in verticals like travel, QSR, and automotive, purchase decisions are more often a group activity involving all members of the family. Household targeting is the key to maximizing marketing performance in these segments.
While this year has seen so much change in TV, I expect even more next year, especially given that there is so much uncertainty related to Covid-19. With that in mind, here are three CTV predictions for 2021 and the ways they stand to impact the industry.
When Covid shut down the world, it wasn’t just traditional retailers that were hit. DTC brands were, too. Shifts in consumer shopping habits during the pandemic forced DTC brands to alter the ways they think and they still came up on top. As the world continues to navigate our new normal, we hope that others can learn from the strategies DTCs are implementing.
Online actions such as a person’s search history or the brands they like on social media platforms fall short in telling the full story of genuine consumer behavior. Offline behaviors, however, prove to be more indicative of a consumer’s likes, dislikes, and hobbies. During a time when people go fewer places, where they go tells us even more about who they are.
To be sure, kids are not the only ones spending more time staring at the TV screen. The coronavirus has catalyzed a golden age for TV viewership and non-traditional formats such as over-the-top viewing in particular, said Sean Buckley, COO of global video advertising platform SpotX.
SpotX announced a strategic investment in CTV and OTT-focused ad serving platform SpringServe Monday. I checked in with Buckley to find out how the partnership will benefit both companies and how the coronavirus year has affected TV viewership as well as video advertising.
One medium that will be especially helpful in the recovery 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.
CES provided a unique showcase for the importance of connected TV (CTV); it’s one of the few events that wrangles hardware, media, and advertising companies into the same place for a week. Within digital advertising, this topic is number one, and not outlining your strategy to support CTV in 2020 was a way to cut any CES meeting short. Companies that have moved from video to TV, such as Amobee or Telaria/Rubicon, exciting new combinations of TV and digital assets such as Xandr; programmatic TV leaders like The Trade Desk; and companies that have been long on TV for years such as Samba TV should have a fantastic 2020 ahead of them.