Audiences are more connected than ever in both the online and offline worlds. Making it hard for advertisers to determine what platforms to use in order to reach out to them. Many are looking to diversify, by building omnichannel campaigns. It is observed that brands that integrate three or more marketing channels experience a 287% higher purchase rate.
Not only adding more channels to their strategy but it's essential advertisers understand each of the potential advertising mediums, to make holistic campaigns where the return on investment will be higher. This is where Connected TV (CTV) comes in.
CTV viewers only spend time with the content they want to watch; resulting in a willing audience that is hooked on a particular show. That user experience is very favourable to the end users, as they can watch what they want at a specific time, and those positive feelings can be associated with your brand.
A recent study by mediasmart shows that CTV is emerging as the preferred device for content consumption in India. CTV subscriptions stood at merely 5 million subscribers in 2020 but quickly doubled to 10 million in 2021. By 2025, this figure is expected to become 4x. In another study conducted by mediasmart and logan in Brazil, Mexico, and Argentina, we found that on average, 84% of viewers preferred CTV over traditional TV. Moreover, this is not just for content consumption. They pay more attention to CTV ads when it comes to buying a product.
This blog discusses how CTV intertwines the offline and online worlds, building a great channel for efficient omnichannel advertising.
CTV Advertising: Efficient targeting
Opposite to traditional TV, where ads are broadcasted in the open and impressions can't be measured accurately, Connected TV offers the possibility to target, retarget, or suppress particular devices from your marketing strategies—helping you reach only the specific audiences for your business. In addition, you will be able to identify unique CTV devices, either by where they are located, the brand of the device, or the apps used.
For example, you can target users with certain income or savings levels, neighbourhoods or home types, certain tech-level in the households, and the number of children or cars per household, among other things, through CTV audiences.
Moreover, you can dynamically optimize your ads according to the device they are being viewed on, filter content according to location, and even the weather. And also control the frequency in which your ads are being displayed; not allowing more than 10 repetitions by device, for example.
It is interesting to note, that the shift from traditional to connected TV also means that advertising is no longer tied to prime time, a particular channel, or a particular show. This means that the same campaign could run at the same time on two devices that are watching different shows; and also that different campaigns could run on devices watching the same show. Advertising on CTV is more user-centric.
CTV Advertising: Household sync to maximize interactivity
Our recent study on CTV in India revealed that 9 in 10 viewers of CTV recall being exposed to ads. With traditional TV Ads, not only it was difficult to measure the exact impact or ROI, but interaction rarely happened. Buying CTV ads with mediasmart will not only allow marketers to measure the impact of their campaigns. Those ads, paired with our household sync technology, will also target other devices in the same household.
While you drive brand building through CTV Ads, you can then target other connected devices within the household like smartphones or tablets, with an ad that includes CTA for the users to interact with or purchase the product.
The report also revealed that nudging the users on their connected mobile devices within 24 hours helps improve the purchase intent for users who have seen ads on CTV. Ads can be synced from 30s, 5 min, 1h, 24h to 10 days after showing the TV ad to better recall the brand.
Globally, brands like Spotify, Discovery+, and Burberry have used CTV’s household sync technology to maximize their impact.
CTV Advertising: Reach cross-screen audiences
With mediasmart’s cross-screen audiences feature, you can reconnect with a pre-existing segment of mobile users on their connected TV. For example, if you wanted to reach to users who walked into your competitor’s store in the last few days - you can use location and time-based audiences to create a segment and connect with them on their CTV devices.
Moreover, you can pair CTV with different marketing goals. For example, you can intertwine your offline and online campaigns by measuring the incremental impact of your ads on your store visits. Advertisers can derive more value by linking ads on CTV to lead generation, app installs, and e-commerce purchases for greater conversion and sales. This empowers a very cohesive marketing approach.
CTV Advertising: Data-driven marketing to improve ROI
It is possible to check KPIs related to the campaign (including the exact number of delivered impressions) and track and attribute systems to measure conversions. As mentioned earlier, when you deploy the campaign, you can get insights on whether the target saw your campaign, engaged with it, and, if it resulted in a store visit, a website visit, an app download, or a sale.
With a data-driven omnichannel campaign that includes CTV, you can accurately target your ideal audience, gauge the effectiveness of your campaign through the resulting actions and retarget them beyond their TV screens.
The ability to measure the results and the return on investment makes CTV advertising more lucrative and effective for modern-day advertisers. Considering the wide projected growth of CTV and its capabilities, it makes a terrific digital advertising option to add to your omnichannel strategy.
Want to test and include CTV in your strategy?