The connected TV landscape may be fractured, with a number of TV set makers and connected TV device makers splitting the market, but that isn’t stopping innovation in the connected TV ad marketplace.
According to a new report from the advertising technology company Innovid, the pool of consumers that use connected TV devices is growing. And certain best practices are becoming more firmly established, particularly around interactivity.
Connected TV now accounts for 27% of overall video volume, up from 13% in 2016. Adults 18-34 now spend 24 more minutes per day with CTV devices compared to other demographics.
Perhaps most interesting to marketers: Research suggests certain interactive features could help drive a 35% sales lift. Also, interactive elements can double the amount of time consumers spend engaging with an ad.
Innovid’s report included a case study from the automaker Volvo and Group M’s Modi Media. It created a campaign using existing content from the brand that allowed the viewer to explore one of the automakers new models. It also encouraged users to enter their phone number to receive personalized messages and details for local dealers.
Innovid says more than 95,000 households were engaged and 1,200+ users requested information to be sent to their phones. Ultimately, the the measurement firm Experian found there was a sales lift of 35% as compared to a control group.
As marketers seek to spend their advertising dollars in more effective environments, and as platforms seek to grow their advertising revenue, the power of interactivity looks to be a powerful one.
By keeping users more engaged and potentially driving more sales, interactivity is a logical step for many brands to explore. And with new technologies that allow these interactive CTV experiences to be made with existing resources, the costs decrease.