Leverage these four insights to boost your advertising strategy in the new year
The landscape of connected TV (CTV) advertising is in a state of rapid transformation, presenting brands with an expanding array of platforms and devices to reach viewers streaming content over-the-top (OTT) of the internet. In this blog, we’ll unpack four key insights derived from the “Supercharge Your CTV Advertising with Outcomes-based Measurement” webinar, hosted by Kochava and featuring experts from Samsung Ads and Sling TV. Dive in as we explore these takeaways so you can leverage them to enhance your CTV advertising strategy in 2024.
#1 Understanding the Inventory and Device Ecosystem
The key to mastering CTV advertising lies in navigating its fragmented nature. As inventories expand and category lines blur, it becomes crucial to understand where and how ads can be served. This knowledge allows for strategic placements and enhanced visibility, ensuring that campaigns reach their intended audiences effectively. Here’s a brief overview:
Streaming Services: Ads can now be served on various streaming services (OTT platforms) such as Netflix, Hulu, Amazon Prime Video, and Disney+, where viewers consume on-demand content. While certain services offer an ad-free experience at a premium subscription rate, most have introduced discounted tiers in exchange for ads.
FAST Channels: Free ad-supported streaming TV channels offer linear and on-demand viewing experiences that is 100% free with commercial breaks where ads can be inserted.
Network Apps: Many traditional TV networks have their own streaming apps or digital platforms where viewers can stream live or on-demand content, providing ad slots within these streams.
Connected Devices: Ads can be served through a variety of devices used to stream content. These devices can include smart TVs, CTV set top boxes and sticks (Roku, Amazon Fire, Apple TV, Chromecast, etc.), mobile phones and tablets, and even gaming consoles.
Programmatic Exchanges: Automated buying and selling of CTV ad inventory through programmatic exchanges enable advertisers to target specific audiences across multiple CTV apps and services.
Direct Deals/Purchases: Advertisers can directly purchase ad slots from CTV publishers or platforms, often guaranteeing premium placement and specific audience targeting.
Cross-Device Targeting: Serving ads on CTV, then retargeting those viewers on other devices like smartphones or tablets can create a cohesive multi-device advertising strategy.
#2 The Emergence of FAST Channels
FAST channel revenue is projected to reach $12bn in 2027. This forecast highlights a major shift in viewing habits to audiences increasingly favoring free, ad-supported content. This trend affords marketers a prime opportunity to connect with diverse demographics, particularly cord-cutters and millennials. To effectively engage these viewers, advertisers might target their campaigns within popular content genres on FAST channels, such as classic TV shows and movies.
Ad format selection is key, with pre-roll ads showing strong completion rates and mid-roll ads keeping viewers engaged. Interactive ads, though rarer, can significantly enhance engagement. Marketers must also consider user behavior, including viewing times and multi-screen interactions, to optimize ad impact.
#3 Advancing Measurement for Tangible Outcomes
The paradigm of CTV advertising measurement is shifting from traditional metrics such as impressions and reach to outcomes-based approaches. Advertisers now seek to connect ad views with consumer actions, aiming to quantify the impact of their campaigns in terms of tangible results such as website visits, purchases, or app installations. As a result, CTV is no longer just a brand marketing play, but also a performance marketing medium where marketers can connect spend to direct response performance.
Learn more about outcomes-based measurement in this related post.
#4 Revitalize Your Strategy
When it comes to CTV campaigns, a clear objective-oriented strategy is paramount. Advertisers should consider the full spectrum of inventory options, including unguaranteed spaces, to reach their target audiences effectively without overspending on data fees. The focus should be on delivering high-quality, engaging content, while also being mindful of frequency capping and the importance of testing different approaches.
The Role of Creative in Streaming Ads
The transformation in viewer behavior has given rise to interactive ad formats like shoppable ads. Utilizing QR codes and cross-device targeting strategies, these ads offer a bridge between CTV and mobile, enhancing the potential for audience engagement. Creatives should be high-resolution and crafted to align with the campaign’s KPIs, ensuring they captivate viewers and drive the desired action.
The Intersection of Brands and Custom Content
As brands explore the FAST space, the opportunity to create custom content tailored to campaign objectives and target audiences presents a novel way to engage with viewers. Sponsorships and partnerships in this space enable brands to craft unique experiences that resonate with their audience.
Navigate Your CTV Campaigns with Kochava
Accurate outcome measurement is the linchpin of campaign success. With tools that facilitate attribution and optimization, Kochava’s analytics and attribution solutions are at the forefront of enabling this precision. Brands seeking to explore custom content or channel bundling will benefit from partnerships that offer access to proprietary data, enhancing their ability to measure and understand their impact across CTV platforms.
The future of CTV advertising demands a blend of informed decision-making, adaptability, and strategic flexibility. By embracing a variety of strategies, including outcomes-based measurement and innovative creative approaches, brands can shape their success in the dynamic world of CTV advertising. For those eager to dive deeper into the intricacies of CTV advertising and hear directly from industry experts, the on-demand webinar featuring insights from Samsung Ads, SlingTV, and Kochava is available now.
Want to talk with an expert about your CTV campaign measurement? Contact us.