Advertising is the key aspect to introduce or brand your product in the market. In the early ages, the traditional way of marketing was through TV advertising but now there are different types of marketing your product like email marketing, content marketing, affiliate marketing, and many more. All these help to raise interest in people on the product and end up making them our customers.
The new strategy in marketing is CTV Advertising which has gained preference due to the increase in streaming services by entertainment platforms. There is a main focus on CTV ads and around 57% of APAC marketers are planning to spend 40% of their marketing budget on CTV. It has also seen a higher conversation rate through streaming ads when compared with traditional ad marketing. In this article, we will learn more about how to utilize CTV in marketing along with its impact on maximizing sales and profit.
What is connected TV (CTV) advertising?
CTV or connected TV advertising refers to the strategy or a technique that is used to promote products through streaming platforms that are connected to the internet. It is the process of delivering or showing video ads when you are watching movies via streaming platforms. The duration of the ad is commonly between 15 to 30 seconds which contains the spotlight of the brand.
How it works?
CTV ads are shown to the viewers while watching movies, shows, and other entertainment programs when the advertiser buys advertising. The contents on the streaming are provided by Peacock, Hulu, Netflix, Pluto TV, etc which are now giving the services of advertising. The CTV ads are delivered through CTV devices like smart TVs, Amazon Fire TV sticks, Apple TV, etc.
CTV ads are very different and precise when compared to traditional TV ads that are connected to cables. No doubt that TV ads will reach millions of people at the same time but, they fail to reach just the exact and targeted audience. With the growth in technology, people have adopted changes and the number of streaming subscribers has increased hence advertisers have shifted their area of focus to CTV advertising.
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Key Benefits of CTV Advertising
The focus on CTV advertising as the marketing strategy has seen some noteworthy benefits and changes in the market in terms of reaching the audience some of which are mentioned here. In the case of CTV advertising, a company can focus only on the targeted and interested audience where the competition ratio is high. This can be the advantage of a digital platform. Have you ever seen the ad for the same product that you searched a few hours ago?
CTV ads can be optimized and allow change easily, whereas TV advertising is larger and the feeds are sent well in advance which has limitations to changes. CTV ads provide flexibility with ongoing campaigns and identify audiences for acquiring the best sales. It is also observed with the benefit of video completion rate with the targeting strategy ad is likely to reach the most relevant and appropriate audience and increase engagement.
The effectiveness of your campaigns can be measured by the rate of conversion from viewers to buyers. With the availability of attributes, the company can notice the small aspects like who visited the website and bought the product after watching the ad. who is more likely to make a purchase, and so on. CTV has made the process of local targeting easier by pointing out the customer based on location. This also helps in customized auto messaging and reaching out the customers of all geographical areas. Hence improved and customer-centric services can be provided to consumers which in turn gains trust and customer retention.
Conclusion
In short, connected TV advertising has been identified as the new wave in marketing for reaching and gathering audiences to boost sales. One can find more opportunities present in CTV advertising for marking their products and services along with creating brand awareness. By understanding the strategy and involvement in detailing small aspects of marketing a company can make high profit and enjoy success with achievements.