Up Your Performance Marketing Game with Connected TV
What is CTV:
Connected TV (CTV) results from internet and computer capabilities combined with in-home smart TVs, allowing consumers endless streaming possibilities. In simpler terms, connected TV can be classified as any in-home streaming device that uses the internet. Today’s most popular connected TV platforms include smart TVs, Apple TV, Amazon Fire, video game consoles, and many more.
So why are consumers choosing Connected TV?
Today, more than ever, many across the globe have begun to use connected TV. People realize the convenience and cost-effectiveness of smart TVs that can access unlimited content that internet wired devices provide. Smart TVs are giving consumers access to platforms like Netflix and Hulu all the way to the open web to browse sources such as Youtube.
With high-speed internet becoming cheaper, consumers are seeing increased value in Connected TV as smart TVs stream endless content at only the cost of the internet.
Additionally, the internet has also created a new pattern of content consumers where binge-watching, quick searching, shorter attention spans, and commercial skipping are becoming normalized. Connected TV offers a whole new type of content consumption for those who prefer to skip and cut to the action.
Accelerating the rate of connected Tv users, the lockdown from COVID-19 grew the number of connected TVs immensely. Due to the pandemic, it is estimated that CTV consumption hours are up by 81%. Many faced tighter budgets because of layoffs and reduced wages, so when looking to consume content, they saw connected tv as a cost-effective option.
Just as consumers continue to select Connected TV as a service, advertisers have begun to prefer Connected TV as their advertising platform of choice. As we will discuss, CTV is an incredible way to reach a targeted audience, a form of media that provides promising and measurable results.
Why CTV is a good vehicle of advertising:
Many advertisers are already tuned in with CTV because they have seen the incredible advantages that this channel offers. As the connected TV audience grows, so do your chances of strong ad performance.
Connected TV’s reach alone might be a valid argument in itself, with over 164 million CTV users and a projected 204 million by 2022. This means that more than 50% of U.S. households are utilizing Connected TV as a means of content consumption. According to the Interactive Advertising Bureau, the UK, Japan, France, and Germany will break 50% of household CTV users.
If the broad reach isn’t enough of an argument to start advertising on Connected TV platforms, the control you have when selecting an audience is even better. Connected TV offers marketers the opportunity to hit target audiences by using complex algorithms and demographic data, maximizing your Ad spend. Since CTV is user-controlled, it’s easier than ever to get your Ads seen by the right audience. As an advertiser selecting your demographic with large numbers is all you can ask for. Not only is this possible by selecting which type of content you might want to advertise on, but Connected Tv requires users to input registration information that is helpful when targeting using demographic data. Targeting your audience is a huge benefit, but it gets even better. Viewer retention and Ad completion rate is estimated to be around 95% as Ads are unskippable unless paying a premium. Together, these benefits create the perfect storm for strong performance marketing campaigns.
So, once you have strategically targeted your audience and launched your Ads, how can you effectively track performance using Connected TV?
CTV offers many ways to track your performance, from simple measures to complex tracking across platforms. You might measure performance by looking at the audience you serve, the frequency, and the completion rate. As for tracking, CTV can use pixel tracking to help measure how many impressions your Ad has actually created. Lastly, IP address matching technology can help search for devices on that given IP address to see if they took action on the company’s site. Consumers shouldn’t be surprised when searching for a product on the web on their mobile phone, and an Ad pops up on their CTV. The reverse is true as well. Based on the content or completed Ads viewed on a CTV, mobile phones on the same IP will see related Ads.
How MYNT will guide you through your Connected TV experience
MYNT has been in the Connected TV game for 30 years, figuring out the tricks, so you don’t have to. Our service can meet all your CTV needs; whether you have something or nothing at all, we will ensure a successful connected TV campaign.
First, we will make sure your creative is ready to wow your target audience and drive measurable results. Don’t have an Ad ready? Don’t worry, we have you covered. Our veteran in-house creative team full of wizards can create the perfect Ad for any product or service, being sure to capture your audience and drive action. We have no problem taking you from concept to conversation starter.
Once your Ad is ready to air, the next step is to help you identify your audience and where they are located. In doing so, we will help you choose the targeting method that best suits your needs. We offer a range from a rate efficiency approach, an audience targeting approach, and even a contextual approach.
We offer a rate efficiency approach to help you double or even triple your reach. This enables you to understand who your audience really is. In addition, this wide-reaching tactic allows you to discover your demographic cost-effectively. Instead of relying on inaccurate, costly third-party data, we can help you reach your true audience.
Audience vs. Contextual Targeting
Audience targeting is an approach where we use data to help you select a specific or even niche audience. Audience targeting can be built on demographic data, behavioral data, or even psychographic data, including information based on interests and lifestyle.
Contextual targeting is another approach we take that allows you to run Ads on specific shows or a portfolio of shows to reach a particular demographic. When budget allows, contextual targeting can be effective and offers a promising ROI.
Once we help you identify your audience, we will then be able to leverage our years of experience and scale your ad. This requires planning, setting a budget, selecting the platform that makes sense, and negotiating with providers to find the appropriate Ad space to crush the competition. All this might seem daring, but our CTV expertise will guide you through the process to make it effortless. So let us be your guiding angels.
In Closing
As one would expect, it’s essential to track your results, optimize them, and scale accordingly. Good thing ROI is in our blood. MYNT will optimize results with intelligent targeting, efficient execution, thoughtful analysis, and adjusting our approach as necessary.
MYNT isn’t just here to throw you Connected TV Ads. We take a holistic performance marketing approach. Taking you from start to finish—and finishing in first, dead first. We can offer you as much assistance as needed, anywhere from producing content, buying Ad space, and creating a complete tactical marketing plan.
