Connected TV has become a powerful performance channel for brands looking to achieve specific outcomes with greater attribution. As connected TV viewership has increased, and advancements in ad tech allow for better, more unique experiences, marketers need to incorporate CTV more thoroughly into their marketing strategy. Through CTV, brands can connect directly to business results, feed the brand funnel with new, fresh prospects, drive retention and acquisition rates, and allow brands to diversify from search, social, and display. There are many ways in which retailers can best capitalize on connected TV and drive successful results.
During the pandemic, the growth of connected TV viewership and new advertising technologies gave rise to this powerful performance channel, not to mention it is immune to the depreciation of third-party cookies. Now, brands see that CTV can drive acquisition and help deliver on sales goals. Research shows that CTV is…
- Scalable. More than 80% of households have a CTV device, and that number continues to grow.
- Engaging. From 2012 to 2020, the increase in time spent watching AVOD rose an average of 200%! People want cost-effective options with more diverse and accessible content.
- Memorable. Research shows that brand recognition on connected TV ads performs better than on social media.
- Effective. 82% of DTC shoppers take action after seeing an ad for a DTC brand on connected TV, and of those, 51% visit the brand’s website, and 47% search for the brand online.
- Precise. CTV offers the ability to layer data to focus in on specific audiences using first-party, second-party, and third-party data to reach households. CTV data is also not reliant on cookies or IDFAs.
- Ad-Supported. 79% of CTV households watch ad-supported models, even if they have the option to pay more for no ads.
With recent advancements in CTV technology, there are more emerging T-commerce shoppable formats than ever before. With the ability to switch between devices using QR technology, on-screen browsing options, and send-to-phone from device capabilities, more brands are harnessing the power of these valuable CTV advertising tools. The benefits of these tech advancements are clear to see.
- Keeps people engaged with brands with two-way interaction
- Provides more opportunities for brands to be seen on the largest screen in a household
- Offers another way for shoppers to buy
- Creates a condensed path to purchase
CTV advertising also allows for real-time measurement that shows the immediate impact of CTV campaigns with a cross-device graph that ties TV exposure to online action. Real-time tracking also means brands can better conduct real-time optimization, such as budget fluidity to shift top performing partners and remove poor performers, adjust advanced bidding strategies on audience and brand value, manage frequency, and increase reach. Brands can then accurately score each impression in order to deliver highest ROAS.
Capitalizing on the CTV wave means following best practices, like:
- Using precise audiences through first-party data and access to multiple partners
- Allowing for the most optimized shoppable formats, such as preferential pricing, wide variety of inventory, and performance-oriented creative
- Tracking, measuring, testing, and responding in real time to CTV ads
CTV is a powerful channel to help deliver business goals. Marketers are reallocating budgets into CTV from linear TV, Social, and Web Display—don’t let your brand fall behind the curve.