Posted: 03 Dec 2020 Contributor: Hannah OBrien
How Marketers Can Deliver Engaging Advertising With Connected TV
By the year 2023, professionals have predicted that over 63.2% of Americans will be utilizing a connected TV. With the mass majority of the U.S. TV users having Smart TVs in their homes, marketers may be spending around $14.12 billion on advertisements for this platform. For the companies that have yet to utilize this form of advertising, this post will go in-depth to defining connected TVs, different advertisements available on this platform, and tips on how to execute this form of marketing.
What Is Connected TV?
A connected TV, also referred to as a CTV or Smart TV, is essentially a television that is capable of connecting to the internet, outsourced devices, and other electronics. What usually comes hand-in-hand with this technology is OTT.
As stated by co-founder and CTO of Innovid Tal Chalozin, he describes OTT and CTV as the following: “OTT means you are accessing content ‘over the top’ of infrastructure providers. If you’re buying bandwidth from one provider like Comcast but subscribing to Hulu, you’re going over-the-top of the provider that provided you the bandwidth. You’re using the bandwidth provider as an access layer but not as the main way you’re accessing content. CTV is the device by which you access content. You need an actual device to consume the content. Content is being streamed into an internet-connected app on a smart TV or similar device.”
Now with these different forms of content being streamed through different streaming providers and OTT outlets, this gives marketers a wide range to implement their advertisements. Specifically, with COVID-19, digital entertainment during the pandemic has soared.
What Is Connected TV Advertising?
Generally, connected TV advertising can be broken down into the 3 main types. Depending on which your business will want to utilize may be determined by the use and benefits of connected tv advertising forms:
In-Stream Video Ads: These types of ads play either before or during a program and are unable to be skipped by the audience. Usually, in-stream videos last anywhere from 15 to 30 seconds. Not only are these ads reusable despite consumers watching different channels, but it is also a cost-effective way of advertising to mass groups.
Interactive Pre-Roll Ads: Interactive pre-roll ads also playing throughout a program, what makes these ads stand out is that they become clickable. For example, when a consumer sees the video ad, they have the ability to click through to a landing page where they can learn more information about the content shown.
Home Screen Placement Ads: This form of advertisement is when a stagnant ad sits on the homepage, likely to be just an image or short video clip with a button to “learn more” about the title.
How Does Connected TV Advertising Work To Your Advantage?
Connected TV offers an array of ways to advertise through its content, your brand will need to follow some tips and tricks to make the most out of this marketing strategy.
Reach New Audiences: Your company should try stepping out of its comfort zone when utilizing CTV advertising. By targeting new audiences, your brand may have the chance at gaining new customers and overall extending your brand’s reach.
Retarget Your Ads: Reach existing customers through ad retargeting. The more consumers keep seeing your streaming advertisements, the more likely your audience will be to gain conversions.
Immerse Your Audience: It’s important that your company creates content that subconsciously immerses its viewers into your brand and what you are trying to sell. If your product comes off as too much of a sales pitch consumers may be turned off. Create content that consumers will want to see.
Push Users: Your brand’s advertisement along with being entertaining should help “push” viewers to the product’s purchasing destination. Be sure your ad has a clickable button to easily navigate customers to your product for quick purchases.
About 65% of consumers are on a second entertainment source while still watching their CTV. Your brand looking for success will need to regain its viewers and encapture them into your advertisement for hopeful results of success.