Author: Dave Marquard
With an evolving economic environment, marketers are more focused than ever on measuring the efficacy and ROI of their media spending — and they’re increasingly turning to Connected TV (CTV) as the fastest growing ad channel to deliver full-funnel brand goals. In fact, our 2022 CTV/OTT Advertiser Study found that 43% of marketers say that CTV/OTT spend increases are driven by the ability to achieve brand awareness and performance marketing goals.
This year, 85% of U.S. households are projected to be CTV households* and more than half (55%) of consumers use at least one free ad-supported streaming TV service (FAST), according to Hub Entertainment Research. The ad-supported streaming revolution has led to new data-driven capabilities that allow advertisers to optimize ad spending to meet changing consumer preferences and local market dynamics — and to ensure that their ad dollars are spent reaching high-value audiences to drive measurable outcomes.
Advertisers are measuring the effectiveness of their CTV campaigns in more ways. They’re looking beyond video completion rates as a key metric of success and are tying CTV viewership with direct business results. For example, an automotive advertiser can match exposure to CTV ads with sales data to determine how many new car sales were generated by a streaming TV campaign.
Additionally, marketers can go deeper to understand the true impact of their CTV campaigns on viewer perceptions with brand lift studies. Advertisers are gleaning valuable insights that link consumer viewpoints to CTV ad impact and many are seeing positive results with ad recall, favorability, brand awareness and purchase intent. For example, advertisers can gain insights on whether their messaging is working, and they can learn about their audiences and how they perceive their brand so they can optimize their targeting or creative. For instance, a brand can learn which ad creative is driving the most impact, or they may uncover that their campaign is resonating more with Gen Zs than Millennials, or within a specific geography.
Proving the efficacy of CTV advertising begins with setting clear campaign and measurement objectives — whether it’s driving specific outcomes, measuring incremental reach, or determining brand and sales lift.
Connecting the dots between media spending and quantifiable results is fundamental for making informed ad spending decisions and maximizing campaign outcomes. At Premion, we’ve invested in advanced CTV measurement capabilities as a core competency to enable brands and marketers to truly measure their advertising impact.
To learn more about our brand lift studies, let’s have a conversation.
*eMarketer, Connected TV Households, September 2022; Copyright © 2022 Insider Intelligence Inc. All Rights Reserved.