Q3 CTV Ad Spend Grew 39% YOY
by Frankie Karrer
2 Min Read
Speak to a CTV Expert
We explore how awareness-driven brands can apply CTV to their campaigns.
4 Min Read
The digital advertising industry at large has lauded Connected TV’s revenue generating power (I mean, have you read the headlines in the news lately?), but one subset of advertisers don’t quite know yet what they’re missing out on. Last week, we examined the current landscape for offline-focused brands – like those in the CPG, entertainment or auto manufacturing arena. Looking for more content like that? Join us and Adweek next week on Thursday June 24th at 1pm ET / 10am PT, where we’ll explore Connected TV’s applicability across different verticals and learn how its measurement and reporting capabilities will transform the way you view digital advertising. Save your virtual seat here, or click the thumbnail below to register.
Here’s the thing. Although ecommerce is showing unstoppable growth, there are many companies out there that don’t track traditional revenue or conversions, like a retailer trying to get their people to visit their brick and mortar store, for example. Unfortunately, many are still fixated on a traditional mindset that if you’re an awareness-focused advertiser selling indirectly to a customer, you don’t need to track conversions. We hate to say it, but this type of thinking is doomed to fail in the long run, because as a brand (even one that doesn’t have clear conversion goals), everything is measurable now. There are tools out there that put the power back in the brand’s hands to get the insights they need without an intermediary and fast track their way to success.
One of our customers, a global television and entertainment production company, was promoting a box office movie through our Connected TV platform, and defined success as box office ticket sales. However, they didn’t seem too concerned about tracking visits to their website. Instead, they saw Connected TV as an avenue to spread the word about their new box office release in the same way they would with a billboard on Sunset Boulevard. But what’s wrong with this picture? Using Connected TV for this sole purpose, without knowing its true potential.
Connected TV’s potential is huge for brands, and goes beyond simply driving conversions and revenue. The data unlocked via CTV advertising can deliver possibilities once thought impossible with TV advertising. With the right data, advertisers have the potential to eventually reveal other user actions throughout the full sales funnel, like in-store visits and mobile app downloads.
While we’re not at that point quite yet, it’s only a matter of time before an advertiser can serve an ad to a viewer, then use a combination of device IDs and Iocation data to track whether their ad drove that viewer to visit their store. Imagine the possibilities that would bring?
If you’re an advertiser who doesn’t sell through a website, you’re likely to track performance a different way (or, worst case scenario – not at all). Whether or not you turn a blind eye to metrics like CLV, ROAS and conversions, and therefore avoid the measurement conversation altogether, is a bad idea from a performance marketing standpoint. There’s power in data, and whatever your goal or key performance indicator of choice, Connected TV advertising can help you retrieve exactly what you’re looking for.
Connected TV advertising is a holistic digital channel that takes into account performance beyond metrics like revenue and ROAS, giving you a full picture of your campaign’s impact. MNTN Performance TV provides these insights via our Cross-Device Verified Visits proprietary attribution model – which tracks the user journey from ad view, across multiple touchpoints.
Our platform paints a picture of the different pathways on a more strategic level across other devices beyond the television screen that get prospects hooked well before converting. Since MNTN Performance TV is also integrated with Google Analytics, advertisers are also able to view their CTV campaign performance alongside their other digital marketing efforts. This equips brands with valuable insights that could help them to optimize their digital strategy for future campaigns.
We hope to elaborate on these stories, and share more with you at next Thursday’s webinar. Don’t forget to save the date in your calendar and round up any questions you may have – there’ll be a Q&A session at the end. See you there!