TV Viewership Statistics & Trends to Watch for in 2024
by Cat Hausler
5 Min Read
Connected TV’s ability to target site visitors redefines what advertisers can do with video retargeting
5 Min Read
If you had to guess, how many businesses use video as a marketing tool? If you guessed nearly nine out of ten, you’re right (you’re so smart)﹣87% of businesses use video in their marketing efforts. And nearly all of those same businesses plan on increasing their spend on video advertising in the coming year.
Why? Because advertising with video works. It’s a format that naturally lends itself to storytelling, which means brands can deliver their message better than with a static ad. And for advertisers looking to drive performance metrics through retargeting, video ads also perform better, with some advertisers reporting a 20% higher conversion rate for video retargeting campaigns.
When it comes to channels that can support quality video retargeting, marketers have traditionally turned to social platforms like Facebook. But as more and more marketers hit a performance plateau with their social marketing spend, many are looking for an alternative.
They’ve got it with Connected TV. And not only do they get a video retargeting alternative, they get one that combines a television experience with digital precision and metrics to drive serious performance. Let’s dive into what makes this an intriguing opportunity for marketers looking to do more with their video retargeting.
Interested in video retargeting on Connected TV? Check out what MNTN Performance TV’s retargeting can do for you.
When it comes to the difference between video and static ads, there’s really no comparison in terms of impact. Viewers retain 95% of a message when it’s delivered via a video, compared to just 10% when the same message is read in text. That’s a compelling enough reason to leverage video retargeting, and there’s even more reason to leverage Connected TV to do it.
With ads delivered via a TV screen, viewers have 34% greater brand recall than the next closest device. That’s good news for advertisers launching retargeting via Connected TV, because the vast majority of viewers are streaming their favorite shows on TV screens, rather than mobile or desktop devices. eMarketer reports that 63% of viewers use their TV the most while streaming, so you know most viewers are experiencing the video retargeting ad in the best possible way.
Connected TV speaks the same language as digital campaigns when it comes to measurement. If you’re used to measuring ROAS, cost per site visit, cost per completed view, conversions, etc. ﹣ you are right at home on Connected TV.
That’s because Connected TV advertising, when you break it down to the basics, is another digital ad channel. It’s advertising that streams over the top of cable providers (i.e. avoids them completely), essentially removing a limiting ‘native television’ component of TV advertising. In its place are digital capabilities that allow advertisers to target their ideal audiences, and then measure the impact their ads make.
So if you’re comfortable measuring success with digital marketing metrics, you’ll find the transition to Connected TV as smooth as can be.
There’s one major hurdle TV has had when it comes to retargeting: there’s no way for viewers to click on an ad. With advances in cross-device tracking, however, Connected TV advertisers can now measure who saw their ad, and the actions they’ve taken afterward.
For example, Performance TV uses Verified Visits technology to track users’ cross-device journeys. Here’s how it works:
Thanks to Verified Visits’ ability to link household devices together, advertisers can track when a viewer sees an ad, when they visit their website on another household device, and when they convert. They can even customize the conversion window, ensuring they have total control of their attribution and are only giving credit when it’s due.
Advertisers traditionally turn to completion rate to determine whether their video ad’s message is landing with their audience. What can be considered a good completion rate can vary by channel, however eMarketer listed average completion rates for pre-roll video to be around 77%. That sounds pretty good, but it’s nothing compared to Connected TV.
That’s because Connected TV averages completion rates in the 90%+ range, with MNTN Performance TV campaigns averaging 97%. That’s thanks to the fact ads streamed across Connected TV are unskippable, allowing for advertisers’ message to be delivered in its entirety practically every time. You won’t get that with social or pre-roll on YouTube, because the platforms just aren’t designed to deliver that level of completion. With Connected TV, it is.
When it comes to attribution, one could never make the case that TV and digital marketing could be evaluated using the same metrics. That’s changed with what we’ve done with Performance TV.
We’ve got pretty sharp engineering and product teams, and they’ve managed to fully integrate Performance TV into Google Analytics. That’s an exclusive feature﹣it’s not available with any other Connected TV ad solution﹣and it’s broken down the barriers between TV and digital advertising. Marketers can now get a sense of their TV advertising right alongside their campaigns on channels like search and social. We believe Connected TV should be treated like any other digital performance channel, so we’ve designed technology to treat it like one.
If you’re interested in video retargeting with Connected TV, it’s best to think of it like this. Think of it like any other digital channel; you get all the advantages of a digital campaign like retargeting site visitors (try doing that with a traditional TV commercial) and precise measurement (you can track every metric you can with digital campaigns). Combine that with a quality ad experience, and you’ve got a potent retargeting channel that can grab viewers’ attention and drive them to your site to convert.
Interested in seeing what MNTN Performance TV can do for you? Speak to an expert about it today.