Does CTV advertising really work?
This is one of my favorite questions I get from both new clients and existing clients.
Another favorite is whether CTV yields positive results for ROI-driven client. The short answer is yes, but only if it’s done correctly.
Before we get into the details on successful CTV campaigns, let’s establish why CTV advertising is such a hot topic. Check out some statistics on CTV advertising below.
2022 CTV industry highlights:
· 35.4% of US households will cut the cable cord by 2024
· 67.1% of US internet users subscribe to streaming services
· 88% of US consumers watch streaming content on CTV
· 91% of CTV users watch some form of ad-supported streaming video content
Given the above insights, it's clear that CTV is one of the fastest-growing environments, offering tremendous benefits for businesses. CTV can provide better data for insights & optimizations, flexibility, increasing scale, and detailed targeting.
When the streaming world started to gain momentum with the first ad-supported platform, Hulu, our direct response D2C team was keen to investigate the new format and see how it could complement our existing TV model. We gladly found that CTV had the potential to deliver the big screen experience that we knew worked for our clients on linear television, but offered some excellent new tools that simply didn’t exist in the linear TV world.
When we first ventured into the OTT/streaming space, the landscape and technology was so different from what it is today. We were heavily reliant on large companies like Live ramp, and other third-party data providers to layer on what we know as “digital targeting” to our campaigns. But for a long time, the technology had not caught up with the industry creating a disconnect between the media airing and the response data. Providers also lacked the technology needed to deliver the desired transparency that is imperative for optimization.
Fortunately for advertisers and marketers, we’ve stepped into a new era. Over the last few years, our team has developed and scaled CTV campaigns using contextual targeting and both first and third-party data segments to find clients’ most sought-after audiences.
Our team pushed forward and even developed a strategy that allowed us to take our campaigns one step further, using retargeting strategies to amplify our CTV campaign to close more sales. This strategy allowed us to convert a traditional linear TV model into a full-funnel ROI-driven CTV program that moves consumers from a prospect through to a sale within one campaign. This methodology is proving time and time again that CTV is not only a possibility for your 2022 marketing mix, but an absolute must!
The lesson here is two-fold. If you tested CTV in years past, it’s probably worth having another look now that the technology has finally caught up.
If you have yet to try CTV, contact our team today about developing a custom CTV strategy for your brand!