The Power of Connected TV (CTV) Advertising
- Michael Francisco
- October 17, 2022
- 898 Marketing, Blogs, Digital Advertising, Video
- 898 marketing, Connected TV, CTV, digital marketing
- 0 Comments
Connected TV (CTV) is still gaining traction nationally in the digital marketing landscape, as it allows advertisers to reach their audience with video content on Smart TVs and Over-the-Top Television (OTT) devices such as Amazon FireSticks, gaming consoles, and more. CTV can be used for pre-recorded shows and live events. But what is a realistic success ceiling for CTV? There are several ways we can look at the continued growth in CTV advertising, giving marketers a great opportunity to capitalize on a rising trend.
“Cutting the cord” is becoming increasingly popular, and with people signing up for more and more streaming services, costs are increasing. Most streaming platforms now offer an inexpensive, ad-supported subscription package, and to keep up with their shows, people across the nation are paying less to consume content on every platform. With more individuals choosing ad-supported options, the opportunities with CTV are clear. This is a chance for marketers to populate their ads in front of a growing audience on some of the most popular streaming sites in the world, like Hulu, Disney+, HBO Max, and many more.
How many people are actually choosing to consume content through ad-supported subscription packages? In 2020, The Trade Desk conducted a survey that determined 53% of streaming consumers were willing to watch ads if it meant a cheaper price for the platform. An overwhelming 76% of consumers would watch ads if that meant free content (i.e. Youtube). With a potential audience this large, it’s no wonder that advertisers continue to place value in CTV’s possibilities.
The fun part of CTV is that you can essentially utilize any type of video content you want! With the power of programmatic advertising, your video can target the specific user and their interests, not necessarily the shows you think they might be watching. This creates a huge opportunity for both large and small brands alike.
Let’s look at a local pizza shop for example. What if that pizza shop ran CTV video ads prior to and during a huge sporting event that displayed their gameday discount? Well, it may drive orders to them instead of their competitor a few blocks away. They would know that every impression served would be to the people most likely to order from them, and the pizza shop would know exactly how many impressions were served to those potential customers. The data collected helps inform decisions they make about their CTV advertising in the future, and they gain sales as a result of their efforts.
CTV is starting to change how advertisers approach video marketing, giving them an entirely new lane to promote their products and services. With growing audiences on streaming platforms, now is the perfect time to add CTV to your marketing strategy.