For years, the promise of Connected TV’s (CTV) rise to prominence was predicted. Today, there’s no more prediction, just reality. According to Statista, in 2023, 88% of US TV households have at least one internet-connected device. The Trade Desk’s CTV Report 2024 confirms what the top advertisers across the globe know: Choosing a CTV Advertising agency should be at or near the top of your list.
We make this statement boldly, but it’s not without creds:
- Streamers officially surpassed cable TV viewers sometime in late 2021/early 2022.
- Around 73% of consumers prefer to watch free ad-supported content vs paying for ad-free CTV content.
- Based on the current trendline, The Trade Desk estimates that advertising-based video on demand (AVOD) users will outpace pay TV viewers 195 million to 91 million by 2027.
- With cookies disappearing this year, CTV offers a logged-in, authenticated media alternative by offering verified user data. (This means advanced targeting!)
- Consider your own situation … if you remove live sports from the equation, when was the last time you watched a “live TV” show? Most of us stream, and rarely use linear TV. Cord-cutting isn’t just a trend, it’s considered the norm. And with streaming offering more and more live sporting events (e.g., YouTubeTV), linear TV will go the way of the dial-up internet service.
Harness the Brand Story-Telling Power of Long-Form Media
If utilizing a CTV advertising agency is new to you, or you think the format of TV/video is not for you because you’re a B2B advertiser or a B2C advertiser “too small” to afford TV, consider some of the aspects of CTV below. TV is now accessible to pretty much any advertiser, and it’s one of the most powerful forms of brand advertising. Consider:
- There are virtually no budget minimums – we’ve run CTV campaigns for clients for as little as $1,000/month. While the geography in this case was very limited (just a couple counties), this example proves that the threshold is very low to get into CTV advertising and the great benefits of the long-form TV format.
- We regularly run CTV for B2B clients – due to CTV’s targeting capabilities, you can target by firmographic (aka business demographics), psychographic, geographic, and demographic. We’ve targeted “green investors,” “industrial operations managers,” and “energy company c-suite titles” before. The profiles available from The Trade Desk’s ID 2.0 and AI-enabled targeting platform appear endless.
- CTV advertising offers analytics – that’s right … CTV advertising is trackable. You can see clicks, impressions, channels, and more. Linear TV never offered anything more than approximate impressions and general audience statistics.
CTV Advertisers Validate CTV Advertising
If you like to learn from other marketers and have your decisions validated by them, then these stats might excite you. CTV advertisers cite a whole host of benefits to CTV advertising. Here are just a few:
- 64% of marketers believe the TV/video format makes a stronger connection to the brand than any other format.
- 63% of advertisers say CTV provides better targeting than most other media.
- 59% of marketers said adding CTV advertising to their media mix raised their brand awareness.
- 58% of CTV advertisers reported “better pricing” as one of the main benefits of buying CTV programmatically.
- 47% of CTV advertisers ranked CTV’s ability to reach their target audience as their #1 reason to use CTV advertising.
- 41% said CTV offers a far easier method to test creative.
- 29% responded that CTV saves time and costs.
- 25% of those surveyed claimed CTV ads brought them higher conversion rates from their other media.
Why do we think CTV advertising is so great?
CTV advertising marries one of the best long-form advertising formats (TV/video) to digital marketing. Think of it this way: it’s TV advertising that performs like a digital advertising medium with advanced targeting, agile creative deployment and testing, and robust analytics. You may not call CTV your BFF, but you may find that it boosts your campaign performance in significant ways.
If you’re seeking a CTV advertising agency, look no further than Innis Maggiore. We marry the power of positioning to the most advanced distribution of your message. Contact us today.
*All stats compiled from The Trade Desk, Digiday, and Statista.