The CTV advertising industry has seen a few shifts over the last couple of years. In this article, Fred Godfrey, CEO and co-founder, Origin, explains why CTV is primed to become one of the most sought-after platforms for advertisers in 2022.
Connected TV, more commonly known as CTV, has been on the radar of advertisers for years as a solution to reach audiences everywhere. But the platform has faced significant challenges. Between advertising technology trailing behind the idea and “traditional” advertisers’ hesitancy to adopt the new platform, CTV became a “so close, but not quite” dream.
The CTV advertising industry has seen shifts over the last couple of years in both things we can and can’t control, which is pointing us in a new direction. There are three main factors to consider: advancements in technology, changing views from both a brand and advertiser perspective on the capabilities of CTV and a distinct mindset change in how we advertise. Blended together, these elements have created the perfect storm for CTV advertising to explode in 2022, and here’s why.
1. Advancements in Technology Make CTV Advertising a Little More Seamless
When approaching anything new, it’s imperative we have all the tools in our belt needed to make the process go smoothly. The same can be said for advertising on any platform. As the foundation on which every ad is served, technology is the cornerstone of CTV advertising. Recent advancements have allowed streaming platforms to combat ad repetition, frequency, competitive separation, fill rates and more. These improvements have, in turn, cleaned up the ad break and created a more positive experience for viewers.
These changes don’t stop with the technology that actually runs the ad; they’ve also invaded the technology all around the ad. Significant strides have been made in the last 12 months to see if the living room TV can be leveraged to deliver a standalone “shoppable” experience by activating viewers on a second screen such as a mobile phone. This has included the use of the humble QR code, a 30-year-old invention that finally took center stage around the world because of the pandemic. While the jury is still out, making a shoppable experience has the potential to heighten the impact of CTV advertising on viewers as they are more engaged and encouraged to actively participate in the ads they’re watching.
As technology continues to advance and advertisers recognize the benefits, including a more positive, personalized ad experience that goes beyond the data to the heart of the creative and increased viewer engagement, it will only become an even greater factor in CTV advertising.
2. Changing Perspectives on What Makes a “Good” Ad Makes CTV Advertising More Appealing
We all know that one person — the person who is really stuck in their ways. No matter how much change happens around them, they are still going to do something the way they have always done it because it works and why change it now?
For a long time, advertising was stuck in the mindset of “if it ain’t broke, don’t fix it”. However, changing consumer behaviors and the global pandemic have forced advertisers to reevaluate the way they run their businesses. When ad budgets were cut over the last year, advertisers and brands had no choice but to rethink what they considered a successful campaign. Brands recognize that “brand awareness” simply is not enough and now expect to see a lift in consideration and even performance as a result of their campaigns.
Working in tandem with that is how advertisers and brands measure performance now. Brands want to know how many eyes are on their advertisements at any given moment and if the ad has had an impact on buying decisions of the consumers. As it stands right now, it is difficult to measure success on CTV. However, as measurement tools continue to evolve and more accurately determine what is working and what is not, CTV becomes a more appealing option because of the benefits it already offers.
3. There Is No “One Size Fits All” for Advertising – And CTV Knows That
Advertisers and brands are walking away from last year with a lot of learnings, one of the biggest being that agility is the name of the game. In every facet of our lives, things change in an instant, and our values follow suit as our idea of what is and isn’t important evolves. Advertising needs to behave similarly, becoming agile and adapting to current events. There are now CTV ad formats that enable brands to use the spots around their ads to append highly personalized messaging to their national “generic” creative, prime viewers mentally or emotionally for their ad. They even extend the power of “real-time” storytelling which until now has been reserved for social marketing. Advertisers and brands today have greater flexibility on CTV than they did a year ago, and that has proven vital already.
The emergence of connected TV as a mainstream method of ‘watching TV’ combined with the technology that underpins it has led advertisers and brands to see it as one of the prime platforms for campaigns. Put another way: it’s a playground for complete and utter disruption, and 2022 could just be the year that all of that disruption takes shape.
You can read the original article here: https://www.toolbox.com/marketing/programmatic-advertising/guest-article/3-reasons-why-2022-will-be-the-perfect-storm-for-ctv-advertising/
Origin is a pioneering media and technology company whose first to market creative advertising solutions are reshaping the way brands engage and activate consumers on Connected TV.
The architects of ‘Native CTV’, Origin fuses in-house video production with proprietary ad serving technology to create highly engaging native content that is engineered to capture the attention of a room during an ad break and enhance the connection a viewer feels towards a particular brand.
Origin was founded by media veterans Fred Godfrey and Stephen Strong whose careers have been shaped by their relentless commitment to enraging the status quo. Learn more at www.originmedia.tv.