Unleashing the Power of Connected TV: A Comprehensive Guide to Boosting ROI Connected TV (CTV) has emerged as a dominant force in the advertising
landscape, captivating audiences with its immersive content experience. However, despite its rising popularity, many marketers still underutilize the full potential of CTV, missing out on significant returns on their investments. In this comprehensive guide, we will explore effective strategies and tactics to help marketers boost their ROI in the CTV realm.
Connected TV (CTV) has seen significant growth in recent years, but a new report reveals that many marketers are not fully capitalizing on its potential. According to a study by Analytic Partners (AP), CTV accounts for only
7% of total marketing spend, despite offering a 30% higher return on investment (ROI) compared to other channels. The study suggests that this underutilization is due to marketers' false beliefs about the difficulty of attributing and measuring CTV's impact. While many digital channels provide immediate performance metrics, CTV's influence on consumer purchasing decisions lasts longer and has a greater impact. CTV is transforming the living room television experience and providing marketers with a data-rich platform for advertising. By 2026, it is estimated that 1.1 billion households worldwide will own a smart TV, offering brands a vast audience and data-driven advertising opportunities. As brands leverage data to align their marketing touchpoints, CTV's potential will be realized, allowing them to build awareness and drive outcomes. The inclusion of a direct response element
in CTV will ensure that its true ROI impact is recognized. Currently, CTV is primarily used for branding purposes, with over 70% of marketers focusing on awareness and views as measures of success. However, performance metrics are gaining traction, with almost half of marketers citing engagement as a key performance indicator (KPI). Despite this, only a minority of marketers are actively
utilizing outcome-based metrics such as return on advertising spend (ROAS). The demand for performance metrics in CTV is driven by new advertisers who find traditional linear TV too expensive. By leveraging technology that allows customer relationship management (CRM) data to be extended into TV, smaller direct-to-consumer (D2C) brands are taking advantage of digital targeting parameters
that go beyond linear TV capabilities. This shift is making CTV an exciting and valuable environment for performance-oriented advertisers. To support these advertisers, TV hardware manufacturers are starting to offer outcome-based ad buys. For example, LG recently announced plans to provide brands with a guaranteed level of performance from their CTV advertising, backed by third-party
verification to deliver transparency and confidence. This represents an opportunity for brands to focus on delivering ROI by using media that drives results. QR codes are also experiencing a resurgence in CTV advertising, boosted by the familiarity consumers gained with them during the pandemic. With 79% of people having their phone or another device in their hands during ad breaks, using QR
codes on CTV seems to be a logical choice. New dynamic QR codes designed specifically for CTV are emerging, and it is predicted that the number of US smartphone users scanning a QR code will rise to 99.5 million by 2025. When brands offer additional digital signals indicating engagement, interest, and attention, CTV becomes further integrated into the consumer's journey. However, not
everyone is convinced that QR codes are the future of CTV advertising. Some predict low hit rates as living rooms are not conducive to photographing the big screen. Despite this, most believe that CTV ads will incorporate QR codes, although nearly half of them believe that something better is needed. Integrating CTV into the overall marketing channel mix is crucial for marketers. With the
demise of third-party cookies, relying on trustworthy data sources and collecting first-party user data becomes paramount. However, it is not just about first-party data; activating second- and third-party audience data is critical to access audiences that linear TV cannot reach across all screens. Marketers are increasingly looking to shift from viewing CTV as a separate medium to one that
can be seamlessly integrated into their omnichannel marketing strategy. This integration allows for more effective campaigns and offers opportunities for leveraging universal IDs to match audiences to viewer data. By closing this loop, omnichannel strategies become more targeted and personalized, maximizing the impact of CTV advertising. One of the challenges marketers face with CTV is the measurement and attribution of
its impact on consumer behavior. Traditional methods of measuring TV ad effectiveness, such as surveys and panel data, may not provide accurate insights into the performance of CTV campaigns. However, advancements in technology and data analytics are enabling more sophisticated measurement capabilities. Advanced analytics platforms and tools are emerging to help marketers accurately attribute conversions and measure the ROI of
CTV advertising. These solutions leverage data integrations, machine learning algorithms, and probabilistic modeling to connect CTV ad exposures with consumer actions, such as website visits, app downloads, and purchases. By understanding the full customer journey and attributing conversions to CTV ads, marketers can gain valuable insights into campaign performance and optimize their strategies accordingly. Another area of
focus for marketers is targeting and personalization in CTV advertising. With the ability to gather data on viewer demographics, interests, and behavior, CTV offers a wealth of targeting options to deliver relevant and personalized ads to specific audiences. Marketers can leverage this data to create audience segments and tailor their ad creative, messaging, and even ad sequencing to resonate with different viewer groups. By delivering highly targeted and personalized ads, marketers can enhance
engagement, increase conversion rates, and drive better overall campaign performance. In addition to targeting and personalization, interactive and immersive ad experiences are gaining traction in the CTV space. With features such as interactive overlays, shoppable ads, and interactive games, marketers can engage viewers in a more interactive and participatory way. These interactive elements not only capture viewers' attention
but also provide opportunities for direct engagement and conversion. By incorporating interactive elements into CTV ads, marketers can create memorable experiences that drive brand awareness, consideration, and action. As CTV continues to evolve, marketers must stay informed about the latest trends and best practices to effectively leverage this channel. Collaborating with CTV platform providers, ad tech partners, and data
analytics experts can help marketers navigate the complexities of CTV advertising and unlock its full potential. By embracing CTV as a valuable component of their marketing mix, marketers can reach a growing audience, deliver targeted and personalized experiences, and achieve measurable results. In conclusion, the underutilization of CTV by marketers presents a significant opportunity for those willing to embrace this channel.
With its higher ROI, data-rich environment, and growing audience, CTV holds immense potential for brands to connect with consumers and drive business outcomes. By adopting advanced measurement and attribution techniques, embracing targeting and personalization, and exploring interactive ad experiences, marketers can optimize their CTV advertising strategies and maximize their impact in the evolving media landscape. As the CTV ecosystem continues to mature, it is essential for marketers to adapt
and integrate CTV into their omnichannel marketing strategies to stay ahead in the competitive digital advertising landscape. |
All the news you need today, in a format that isn't TL:DR, summarized for the busy executive.
LinkedIn's robot ads: Let the AI do the talking while you sit back and sip your coffee. Microsoft Store Ads: Taking over the world, one region at a time. Amazon Prime's ad-supported tier: When binging shows, take a moment to appreciate the ads interrupting your precious TV time. Brace yourselves,
advertisers, for a future where ads follow you like a clingy ex. It's a wild advertising jungle out there, but hey, at least we're entertained!
Meta, formerly Facebook, is feeling a mix of defiance and unease as Apple enters the mixed reality space. While Meta was initially bullish on the metaverse, Apple's move validated their vision but also changed their role. Meta now aims to become the Android of mixed reality, the operating system
preferred by device manufacturers who can't compete with Apple. However, both companies are still far from achieving lightweight, standalone mixed reality glasses. Mark Zuckerberg, never truly caring about VR, saw AR as the next big platform shift, but hardware limitations are disappointing. As Meta addresses Apple's entry, they find solace in the fact that there are no magical solutions Apple possesses that their teams haven't already explored within the laws of physics. The battle for
dominance in mixed reality is just beginning, and it's a game that will take years to unfold.
Rumors are swirling that Amazon plans to launch an ad-supported tier for its Prime video service, and it could be a game-changer. While many users are unsure whether they subscribed to Prime for the video content or the free two-day delivery, an ad-supported option could attract a massive audience. Speculation suggests that the ad-supported
tier would have a lower price point, making the ad-free version an upsell with a higher subscription fee. This, along with impending password crackdowns and bundling packages, could make the streaming landscape more complex. Amazon holds valuable advertising data, knowing who users truly are, and many advertisers would love to leverage this information to target TV commercials. However, consumer reactions remain uncertain, as ads in TV shows may require additional payment. Amazon's interface has
always been somewhat confusing, blurring the lines between different services like Freevee and Prime. The key will be to clearly differentiate the ad-supported tier from Freevee and effectively communicate the value to consumers. Despite potential pushback, Amazon is in a favorable position due to the enduring appeal of free delivery. If users can tolerate a few ads while still accessing ad-free movies and renting first-run releases, they might be willing to embrace the ad-supported option.
However, Google and Meta (formerly Facebook) should be wary, as Amazon's move could pose a significant threat to their dominance.
A recent survey by Gartner suggests that B2B brands should consider featuring third-party experts in their marketing efforts. While the study focuses on social media, its findings are applicable to email and website creative as well. Buyers in the B2B space seek confidence throughout their purchasing
journey, and leveraging third-party sources, including influencers, can help achieve that. The survey highlights the significance of social media platforms like YouTube, Facebook, Instagram, Twitter, LinkedIn, and even emerging platforms like TikTok, Quora, and Reddit in informing B2B buying decisions. However, many CMOs in the B2B sector have yet to tap into the potential of third-party interactions. While supplier websites are the most leveraged digital channel, social media channels and
online searches also play a crucial role. B2B brands can enhance their digital experiences and provide comprehensive social strategies that align with buyers' holistic perspectives. Ultimately, brands must improve their digital experiences as they currently rank lower on the list of customer values.
CNN has experienced a significant decline in advertising spending across its national TV broadcasts and digital properties, according to
MediaRadar. The analysis reveals that ad spending dropped by 39% in the first four months of this year, reaching $312.6 million compared to $515 million during the same period in 2022. The data also shows a decline in ad revenue, with the first quarter of 2023 experiencing a 35% drop compared to Q1 2022. The average monthly ad spend for CNN has decreased from $128 million to $78 million. The number of companies advertising with CNN has also decreased, with a 23% decline in the first
four months of 2023 compared to the same period in 2022. These figures indicate a challenging period for CNN's advertising performance under the tenure of former CEO Chris Licht, who recently stepped down after 13 months in the role.
The Wall Street Journal, along with researchers from Stanford University and the University of Massachusetts Amherst, conducted an
investigation that revealed Instagram, owned by Meta, was enabling and promoting a "vast" network of pedophiles involved in the sale and promotion of child sexual abuse content. The research team found that Instagram's recommendation algorithms allowed users to search explicit hashtags related to child sexual abuse, connecting them to accounts advertising and selling such materials. Test accounts set up by the researchers were immediately recommended accounts promoting child sex
content. The investigation identified 405 sellers of self-generated sex material associated with underage sex, with 112 accounts having a combined 22,000 followers. Determining the full scale of the pedophile network on Instagram is challenging due to technical and legal hurdles.
MiQ, a global programmatic media partner, has appointed Zillah Byng-Thorne and Rob Norman to
its Global Statutory Board. This comes as MiQ expands its presence through strategic partnerships and acquisitions. Byng-Thorne, with her extensive experience in C-suite leadership roles, will chair Future plc while advising MiQ on operations. Norman, an industry veteran, brings executive leadership experience to the board. The Global Statutory Board is responsible for corporate governance, compliance, budgeting, capital structure changes, and long-term strategy. MiQ has been making
significant moves, including a commercial agreement with Samba TV and the acquisition of AirGrid. The partnership with Samba TV strengthens MiQ's Advanced TV solutions, while Samba TV shifts focus to data and measurement services.
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