In the last few months, we have seen a massive shift in consumer behavior, primarily driven by the COVID-19 pandemic. We have also seen a leap in the evolution of how streaming services and connected tv advertising has been able to provide brands with a new avenue for growth.
Many advertisers were forced to throw out their 2020 playbook and pivot their entire strategy in a very short amount of time. In the same fashion, consumer behavior drastically changed. Now, in many cases, they are stuck in the confines of their own home for long periods of time, consuming and interacting with media in greater volume than before. Combine this with the canceling of live sports and the increased adoption of the lower cost, cord-cutting revolution. The traditional TV buying model has been greatly impacted.
While the perception exists that consumers have an avoidance of ads, in reality, it is actually the opposite case. In a study by Integral Ad Science, 76% of U.S consumers willing to see ads in exchange for free streaming video.
This changing landscape will have a major impact on the traditional media buyer who has relied on broad targeting across specific shows, dayparts, and perceived markets. With video-on-demand, any time can be seen as the right time to buy an ad spot. Connected TV and streaming ad buys allow marketers to use data to influence their buying decisions and target the right user, at the right time, with the right message. And with this, the future of media buying strategy has truly arrived.
So, what are the most impactful things that Connected TV and Streaming Ads can provide:
With over 200 million households having access to on-demand streaming, across multiple devices, there is a huge opportunity for advertisers to utilize traditional media such as TV but still meet the user regardless of the way they are consuming the media. Pair that with the increased adoption of on-demand services mentioned above.
Given how much video streaming adoption has increased over the last 4 years, it’s safe to say that video-on-demand services aren’t done growing. See the research below from the Leichtman Research Group (graphic by Statista).
Targeting is King:
Unlike traditional TV, Connected TV and streaming allow advertisers to utilize detailed audience targeting to be both introduced and re-engaged with the consumer base. Like all forms of Programmatic buying, there is the opportunity to utilize various qualities of the viewer in your targeting including
- Contextual targeting
These targeting options enable advertisers to deliver the right message to the user being shown the ad.
With the inclusion of data, comes the ability to track impact. Advertisers can assess and adjust their campaigns in real-time, unlike traditional TV campaigns. With real-time metrics, advertisers can ensure that they are getting the most from every dollar of their budget, while also being able to gauge the impact their efforts have on the net-new exposure to potential audiences.
Connected TV also provides advertisers with greater control of the amount of exposure or overexposure that their campaigns receive. This helps them show their ads as often as they deem appropriate to influence customers, at the times that show the greatest impact.