The Perks of CTV For Brands
When we talk about TV today, it’s not just cable and broadcast networks but also Subscription Video on Demand (SVODs), Free Ad-Supported Streaming TV Services (FASTs) and Ad-supported Video on Demand (AVODs).
With internet capabilities allowing more players to enter into the content production and dissemination mix, the volume of content available has skyrocketed. Add in the fact that much of the content is on-demand, and you can see how the popularity around CTV, which enables OTT streaming on TV screens, is justified.
According to eMarketer, the US will have 221 million CTV users in 2022, a five-fold increase from 2021, and the number of AVOD viewers in the U.S. will surpass 140 million by the end of the year. Data from Hub Entertainment Research shows that more than two-thirds of TV households use a smart TV to stream content. With so many viewers flocking to streaming on TV, the market is ripe for presenting ads to engaged consumers — ad spend is predicted to grow to nearly $20 billion by the end of 2022, a 32% increase from the previous year.
Second Screening and Cross-Device Retargeting
You are watching TV when you glance at the lead actor’s wrist watch and remember that you were looking to buy one too. Immediately, you take out your smartphone and start browsing through watch websites. This action of using a second device, while you are tuned into another, is colloquially referred to as ‘second screening’. This phenomenon is widely seen amongst TV viewers, with 84% of US adults admitting that they “frequently hide behind their second screens while watching television” (Engine Insights, 2021). This creates the perfect opportunity for advertisers. By targeting across multiple devices, brands can reach potential customers wherever their eyes are.
Retargeting your consumer and engaging with them at multiple touch points helps keep your brand top of mind to drive brand awareness and sales. Additionally, you can assess clicks and consequent audience shopping behavior through actions taken on these devices, putting a return value on all your campaigns.
Measurability Is A Priority For Brands
Another major factor contributing to TV’s popularity amongst brands is measurability. The Trade Desk found that 70% of brands say their top priority for TV investments is linking video investments to business outcomes.
Using ACR technology, smart TV OEMs like LG Ad Solutions can measure everything ‘on-the-glass’, i.e. both CTV and linear TV campaigns. Brands can not only measure ad impressions, but also accurately link ad viewership to in-store traffic, website visits, brand lift and more. Using a device-first strategy makes it easy for brands to see which strategies are working and optimize their ads in real-time to get the best results. In addition, they can test out messaging and creatives with various audiences, gain a comprehensive view of their campaign results and capture return on ad spend (ROAS).
When you buy CTV inventory with LG Ad Solutions, there is an added dimension of measurability — accountability for actual campaign results through our Guaranteed Outcomes Program. This means that brands only have to pay for media that hits their predetermined campaign metrics, such as reaching a specific demographic, extending reach and frequency, driving TV app installs, 100% video completion rates and more.
Interested in learning more and partnering with us to take your CTV campaigns to the next level, while measuring business outcomes against ad investment? Contact us at firstname.lastname@example.org or send us a message on our contact page.