Today, with a growing majority of US households – 82.9% or 106.4 million – tuning in to Connected TV (CTV), it’s no secret that it is already dominating traditional or linear TV.
Along with this preeminence comes a new, complementary digital advertising channel that offers scale and unique reach, quality inventory, deeper audience targeting, and better reporting through digital analytics integration.
What is Connected TV?
CTV or smart TVs are devices enabled by the internet or plug into a TV for streaming services like Amazon Fire or Roku. The accessibility of content on connected devices allows marketers to measure users across devices and platforms.
The 2020 pandemic expedited the growth of CTV. While consumers increasingly adopted streaming and digital TV, ad spend accelerated by 36% higher than previous spend projections ($17 billion by 2022).
CTV is big enough in scale to offer high quality, unique inventory, and a greater reach than linear TV. When it comes to CTV – the future of television – things are moving fast, and marketers have much to learn about this emerging opportunity.
There’s more value for advertisers with Connected TV (CTV). Connected TVs are more than just a TV. CTV is the home’s heartbeat, always available to serve up content and relevant messaging regardless of location, platform, or screen. This lowers friction for viewers and delivers more value to advertisers through TV Everywhere experiences, as CTV seamlessly travels with them from their living room, car, phone, or tablet, all connected by a single ID.
Furthermore, as marketers shift priorities based upon a cookie-less advertising reality, CTV furthers its advantages over traditional TV with first-party data integration, along with the ability to tap into third-party data resources, such as personas, age/gender, income, children, and intent or in-market audiences.
CTVs Superiority Over Traditional, Linear TV
Connected TV offers digital marketers a superior TV targeting format that aligns much more like a display media buy, even delivering companion banner campaigns for audience pools created from initial CTV campaigns. Customizations at the publisher and device level are only the beginning of a seemingly robust digital channel that offers a cornucopia of targeting features. In fact, according to a survey done by The Trade Desk, 90% of advertisers find CTV just as effective, if not more so, than linear TV.
The ability to measure in advertising is crucial for success and the best use of budgets. In advertising, measurement, especially in television, hasn’t always been precise. Antiquated, panel-based traditional approaches are no match for what the industry has seen with the digital advertising measurement of CTV.
Internet-powered CTV offers cross-platform targeting and measurement as impressions render across TVs and actions take place on mobile devices. With cross-device graphs and the power of digital signal via CTV, it’s possible to determine and attribute actions from a mobile device back to an ad on CTV.
Reach and Efficiency of CTV
With robust targeting and measurement features, CTV offers advertisers to maximize visibility while paying only for the consumers they care most about, streamline the buying process, and more effectively report their campaigns’ reach, engagement, and conversions.
According to a new study from Innovid and Digiday, 59% of marketers said investing in the channel has significantly increased brand awareness, and 50% stated that it helped improve brand engagement.
Many of them are using Connected TV alongside other channels, such as social and digital, and understand that this platform can build a stronger connection between digital and TV advertising for their campaigns. Ultimately, as Connected TV continues its upward growth, marketers looking to impact their campaigns are increasingly using this channel as a catalyst for success in their omnichannel strategies.
CTV also comes equipped with providers offering more tangible video creative packages – with the ability to create advertising content with minimal upfront investment compared to traditional TV.
How to Take Advantage of CTV Growth
At Lever Interactive, we continue to see an aggressive shift with our clients embracing CTV as an awareness channel not only over traditional TV, but more and more as a mix of digital media to complement existing display, video, search, and social campaigns. We encourage this, and make it easy for them by offering a single source, unified-CTV platform to simplify and optimize the overall buying process.
If your team is interested in learning more about how CTV can fit within your existing digital marketing initiatives, you can reach out to us at email@example.com. We’re more than happy to help you with your CTV and digital marketing needs.
Contact us today to learn more about how you can get in front of the CTV growth wave!