TV is more than a source of entertainment for viewers, but also drives their consumption habits and buying patterns. Not surprisingly, brands spend millions on television ads to promote their products to a broad audience. But a lot has changed in the landscape in recent years, with connected TV emerging as a game-changer. CTV supports video content streaming and gives viewers more freedom and flexibility in choosing what they want to view.
Additionally, they have more options, such as broadcasting from the internet, cable, and local stations. Brands and marketers can capitalize on CTV advertising to maximize outreach and build awareness among their key audiences. The strategy offers the best of both worlds, with the reach of TV and the perks of online advertising. But a business owner may have some qualms about the investment before joining the bandwagon. Let us explain why brands should leverage CTV advertising in 2023.
Reach the viewers where they are
Marketing campaigns can achieve their goals only if they meet the target audiences where they are. After all, outreach is the first step in selling and brand awareness. Connected TV advertising can do the trick, as the number of viewers is all set to boom in 2023 and beyond. More and more people are switching to the CTV format because of the better entertainment experience it offers. Not using CTV means missing out on the opportunity, as your competitors will definitely make the most of it.
CTV advertising empowers your business with more control as you can decide your viewers and how often they see the ads. Unlike linear television, you are in the driver’s seat as you can personalize viewer experiences. You can use data such as location, email address, and language preferences of your target audience to show them the relevant ad content. The great thing about contextual segmentation is that you get a more receptive audience with a better probability of engagement and conversions. There couldn’t be a better way to empower your promotional strategy.
The cost of linear television advertising has always been a deterrent for brands because big screens come with a hefty price tag. In fact, they may even be out of reach for young startups. But CTV ads cost a fraction yet give you an affordable way to reach your target audience on the big screen. You can check CTV advertising services and select a pricing structure that works for you. The best part is that you get the advantage of lower impression costs compared to other channels, such as the web or a single device. It is your chance to get a broader outreach with a smaller investment, so you shouldn’t miss out on it in 2023.
Higher completion rates
Viewers have the power to watch ads or skip them, so brands are literally at their mercy when it comes to advertising. Linear TV viewers have the choice to skip commercials by changing the channel, which leads to a waste of branding effort. But CTV advertising entails non-skippable ads, so viewers have to watch them until the end to continue viewing their content. Brands can rest assured about higher completion rates for ad views. It means your viewers will likely know your brand, product, or service better. They may even consider buying them if your promotions are impressive enough to drive a decision.
Another good reason to embrace connected TV advertising in 2023 is that it empowers brands with real-time reporting. It means you get to track your campaigns on the fly instead of waiting longer to realign them for better performance. With traditional ads, you have to wait for a few weeks or months to get facts and figures about your campaign’s performance. Conversely, CTV is a digital platform, and you can track key metrics such as impressions, reach, and completed view rate. A clear view of these numbers in real-time enables you to identify gaps in your campaigns and optimize them sooner than later. It also helps you spend your ad budget wisely without wasting it on underperforming campaigns in the long run.
CTV advertising is the best investment for a brand’s marketing strategy. While it connects you with a broader audience, you also get a chance to run more targeted and contextual campaigns that are likely to perform better. Most importantly, you need to keep pace with your competitors who will probably already be there. It is a chance you should definitely grab sooner than later, so 2023 is the best time to join the CTV bandwagon.