In essence, CTV is merging the high-impact brand presence associated with linear TV and the awareness it brings with the measurable, actionable moments that digital engagement tends to foreground.

“Now you can do more advanced targeting and actually measure the effectiveness, testing and basing actions on actual data that can be tracked in close to real time. It’s really the marriage of two worlds,” said Alexa Tierney, senior director of customer success at MNTN.

With privacy concerns around mobile app tracking and the like escalating and limiting the data available to advertisers, new trends that show shifting allocation to CTV are likely to continue. In a recent survey, Digiday and MNTN polled more than 120 marketers working with connected TV in their mix. The following sections highlight some of the findings in the complete report. 

CTV is no longer just for early adopters

A few years ago, CTV was a still emergent channel, and, at the time, most advertisers were highly focused on linear. While CTV was perceived to pack some promise in terms of targeting and metrics, marketers took a test-and-see approach.

“Looking at the timeline, three or so years ago was the early adopter stage,” said Tierney. “Now, in the past year, CTV in the marketing mix has become something that’s no longer a question of, ‘Should I run CTV?’, but, ‘How and where am I running CTV, and what am I doing with it?’”

In the new Digiday and MNTN report, 71% of advertisers indicated they saw increased brand awareness from advertising on CTV, while 54% saw increased in-store and online brand engagement, 25% saw higher conversion rates, and 30% saw an increase in repeat customers.

With this new popularity, some advertisers have moved budgets from linear to CTV (58%), and a significant percentage of those surveyed — 41% — are taking from social media budgets.

“Advertisers have hit a point of diminishing returns on social media and paid search, where adding more spend doesn’t result in a significant boost to performance,” said Hooman Javidan-Nejad, director of performance marketing at MNTN.

Javidan-Nejad added that because social relies heavily on mobile apps and the data gleaned from those faces future limitations, marketers won’t be able to rely on social as deeply as they used to for direct-response type campaigns. This is where CTV comes in.

“With CTV, these advertisers can spend budget and see incremental growth on top of their usual performance channel strategy,” he added. “Because it gives them the reporting and targeting they’re used to with social media, it can fill a similar role for them. And, they can leverage social video creatives, making …read more

Source:: Digiday

Author: Aaron