As technology continues to grow, the entertainment industry is also increasing. But despite the constant evolution, certain things that have been around for a long time are still trendy, and one such thing is TV advertising.
To grow your business in 2023, you need to start using CTV marketing because its familiar approach quickly replaces old methods. And as streaming platforms get more popular, you can be sure that CTV advertising is here to stay.
What is CTV advertising?
CTV advertising refers to advertisements that are shown via a connected TV, which is any television that can connect to the internet—such as smart TVs. From these devices and platforms, people can watch the content of Amazon Prime, YouTube, Netflix, and many other streaming services.
These streaming platforms have a high number of subscribers. Netflix alone was confirmed to have at least 220 million paid subscribers during the third quarter of 2022. So, taking CTV advertising seriously will undoubtedly take your business to the next level.
What makes CTV advertising so special is combining the classic popularity of TVs with the growing technologies that aid digital marketing. eMarketer recently reported that over $21 billion was spent on CTV advertising in 2022, clearly showing how many brands use this method to boost their businesses.
What are the benefits of CTV advertising?
CTV advertising is the new face of digital marketing, and it comes with a lot of benefits for your brand, some of which are listed below:
- Specific targeting
With CTV advertising, you can reach your target audience with pinpoint accuracy. This is because you will be connected to them through their location, the things they find interesting, their streaming behavior, and other factors that will ensure your advertisement is relevant to those who will view it.
- Cost-effectiveness
CTV advertising is budget-friendly, and the pricing structure is flexible, so you don’t have to spend a fortune to get your brand on the big screen. Through the cost-per-thousand impressions method of billing, you can reach a wider audience at an affordable rate.
- No cookies
CTV advertising works with device identities and IP addresses. So unlike mobile and web ads, CTV advertising is not dependent on cookies. This further shows how advanced this advertising method is because, in the not-so-distant future, cookies will no longer be relevant to marketing.
- Real-time reporting
Unlike regular TV ads that give you results after an extended period, CTV advertising will show your campaign performance in real time. As your adverts run, you can see the view rates, impressions, reach, etc. And you can use these metrics to make the necessary adjustments to your campaign.
- A wider reach
Linear TVs only have regular features, which explains why more people are going for smart TVs and the wide range of entertaining features they come with. Thanks to connected TV growth, people spend about an hour daily looking at a CTV device (according to Statista).
This means that CTV advertising has an extensive reach, which is very beneficial to any type of business as your ads can be seen by over 80% of US households.
The cost of running a CTV advert
Due to the flexible nature of CTV advertising, the financial cost of running adverts using this method will differ from brand to brand. The main factors that affect the cost of running a CTV advert are:
- The targeting option you use for your ads
- The type of advert you want to run
- The platform you want to advertise on
- Your choice of bidding
- Your budget for running a CTV advert
Before running a CTV ad, study the five factors listed above with your team.
How to get the best results from CTV advertising
Connected TV advertising is very effective, but to get the most out of it, you need to know how to optimize this effect for the growth of your business. The following tips will help you;
- Test different ad lengths. Some people like to view short video ads that last for a maximum of 15 seconds, while others want more details and prefer longer ads.
Try making long and short ads to know which will work best for you. Then stick with the one that gives you a better result.
- Keep things simple. You will reach a wide range of people with CTV advertising, so making your videos easy for people to understand is advisable. Avoid the use of complicated grammar and ensure that the message you are trying to convey will be understood.
- Your CTA (call to action) should be clear. When you create a good ad but have no clear call to action, your viewers could lose interest because they need clarification about what to do after watching your ad.
- Take performance results seriously. CTV advertising already has an excellent way for you to measure viewability, engagement, and conversion rates. It will boost your brand by taking note of these results and making the necessary adjustments to your campaigns.
Conclusion
As CTV advertising grows, you should save time by making it a significant part of your marketing plans. It is suitable for any type of business but especially favors those targeted at young people and other niche audiences.
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