Every dollar a brand invests into marketing matters, even more so in times of economic uncertainty. It is a tricky balance to strike however, because to 'pull back' entirely can very quickly lead to losing the momentum and market position that a brand has invested so heavily into establishing.
It is for this reason that CTV advertising can be a gift for marketing teams. At its highest level and for the purposes of this discussion, CTV advertising should be compared to traditional TV advertising vs social/display advertising etc. The reason for this is simply because CTV advertising and TV advertising exist on the same screen - the 'big screen' so to speak.
So, as you start planning ahead in this time of uncertainty, here are 4 must-knows about CTV advertising that we hope will help you make the right decisions with regards to where/how/when you allocate your investments.
1. BUDGET MANAGEMENT AND EFFICIENCY
While not mutually exclusive, having the ability to control your CTV advertising budgets in real-time is an often under-utilized gift:
The 'pause' button - If you have a campaign running but experience an 'event' that has an inevitable effect on the product you are selling or the brand you are representing, make sure the deal you have in place with whomever is facilitating your CTV advertising campaign (internally or externally) can allow you to pause that campaign.
Efficient spending - Be it hyper accurate targeting, intensely scrutinized household frequency capping or intelligent media purchasing through eg auctions means you aren't only running your CTV advertising campaign in relevant households, but that you are buying the media for the best price you can.
2. CREATIVE AGILITY
Even in times of economic uncertainty consumers still need to buy things and one of the most valuable advantages of CTV advertising is that you can change the creative you are running. We take this extremely seriously at Origin and as we proved in this case study with VISIT FLORIDA recently, having the ability to change your narrative in close to real-time gives you untold advantages. Imagine being able to run a flash one day sale on umbrellas when it's raining in Kansas or promote a store-wide sale like you would on social. CTV advertising offers marketers a level of agility that should not be overlooked, as it effectively turns the TV screens from being one of brand awareness to one of engagement and attributable outcomes.
3. ENGAGEMENT & ATTENTION
Following on from the point above, CTV advertising presents marketers with an almost unparalleled opportunity to draw someone's attention back to the TV. This is vital.
With over 90% of CTV audiences holding a second device in their hand and distraction becoming only too easy, an ad being served to someone who is actively watching your ad is, quite obviously, a better use of money than a CTV ad being served to someone who isn't even looking. It is for this reason that we developed Origin Slingshot, which you can learn about it in this 2 minute explainer:
Furthermore, there has been a lot of talk lately about 'phantom/zombie' viewing by CTV audiences (you can read more about it here). In fact, GroupM and iSpotTV have collaborated on the matter and it is argued that up to 20% of all CTV advertising impressions could be playing to black TV screen. Shameless plug here, but this is why Origin has been developing something called the CTV Device Quality Index whereby we work to run CTV advertising impressions on devices that have only been switched on and running for a fixed amount of time (contact us to learn more).
4. MEASURABLE ATTRIBUTION
Last but by no means least - establishing a return on ad spend (ROAS). Smart stakeholders need to know what they're getting in return and even smarter CTV advertisers know that simple 'brand awareness' is no longer good enough. With the right combination of 3rd party brand studies, attention measurement and even the use of directly attributable shoppable units such as QR codes, CTV advertisers do have a chance to track, measure and prove whether or not their money is going to good use. And if it isn't - go back to point 1 and simply work your way back down until it is.
Also, make sure you are being smart about how you distinguish and delineate between key performance indicators and success. They are not the same thing.
To all your CTV advertisers out there - see you soon!
ABOUT ORIGIN
Origin is a creative technology company whose pioneering Native CTV advertising solutions are reshaping the way brands engage and activate consumers on the largest screen in the home.
Fusing dynamic content animation with proprietary ad serving technology, Origin's Native CTV ad formats elevate attention, recall, consideration and outcomes for brands who want to amplify their presence on Connected TV.
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.