CMO and CCO
Connected TV (also known as CTV) is the latest ‘big thing’ among advertisers, as brands seek to learn more about this format and how it can help them reach their audience. It’s one of the few beneficiaries of the pandemic; millions of people started to embrace streaming over linear content (in need of good TV when they wanted it, not just when it was on). Although spurred by the pandemic, this shift is now setting in, and advertisers are keen to regroup that lost audience from their TV campaigns. A cool 100% of media agencies intend to increase their investment in CTV over the next year, alongside 77% of brands.
It’s a format that appeals to both digital and TV buyers: it consists of mainly premium streaming video, often on a big screen, it also boasts a lot of the benefits of digital including targeting and programmatic media buying. To date, many advertisers have approached CTV more like linear TV, leaving out many of the benefits that digital media buying can offer, but that’s starting to change as programmatic starts to prove its value on the channel.
Advertisers can start to maximise their use of this channel in three key ways.
A key benefit that CTV brings marketers is audience-buying – which makes building a plan that much easier and more effective. From sizing to evaluating content preferences, audiences can help across a range of brand-led campaigns as well as in performance targeting.
Through understanding an audience’s CTV viewing preferences and finding the inventory that matches with the target segment, media planners can forecast inventory availability and also understand the price and scale of their key targets. Bringing some smart digital targeting capabilities into the mix like weather-based targeting can really help to enhance performance, and so using data to plan against this is another key way to improve campaign planning that can be enabled across CTV.
CTV data can be used to improve and adapt live campaigns, much in the way that marketers optimise across web and mobile through A/B testing digital campaigns. Programmatic buys enable multi-partner and platform campaign optimisation; enhancing CTV results for advertisers. Campaigns can be dynamically optimised across multiple media channels, with the premier screen size and brand safe environment of CTV an added bonus to these live targeting capabilities.
It’s easy for a marketer to get sucked into the world of CTV so much that they rely on CTV-only metrics. These make it hard to measure how CTV performs against other channels and also to understand how a campaign actually impacted the audience. That’s why attribution is paramount when identifying CTV partners.
Building a robust measurement plan can account for differences in objectives and alternate buying models, despite being an initially time-consuming task. Marketers must go beyond CTV metrics and consider valuable metrics to glean audience impact, at every stage of the funnel from brand preference and awareness to purchase, thus avoiding the trap of digital media that focuses on gameable metrics like clicks.
CTV is a premium channel; putting proper investment into understanding audiences across it and tailoring ads to their interests will reap huge rewards for the marketer prepared to truly understand the potential of this shiny new medium.