Connected TV Advertising: The Numbers Tell The Story
Surveys show that 64% of businesses are running direct response campaign on #connectedtv , which comes as no surprise with the growth of #ctv devices and platforms and how they have spurred popularity for advertising.
The benefits of CTV are many, especially that is allows brands to expand reach, measure cross-platform, cross-device campaigns and target consumers with better, more relevant, contextual ads. The most beneficial aspects for advertisers are understanding consumer preferences and habits regarding CTV, their feelings regarding the commercials, the dollar value that is placed on the ad-free content, and how probably it is for the CTV ads to result in downloads.
The numbers tell it all:
CTV #advertising will be bigger than mobile advertising.?98% of brands think that CTV advertising will overtake mobile advertising within the next 2 to 3 years.
Why advertise on CTV? The reasons include:
- engaging with new audiences
- increasing engagement levels
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- driving higher lifetime value
Mobile apps downloaded after watching a CTV ad.?Half of viewers in North America downloaded mobile apps following seeing advertisements for an app, while the numbers show 40% of consumers globally have done so. Additionally, 53% of consumers say they are likely, or very likely, to do this using QR codes.?
Willingness of consumers to see ads on CTV. 86% of consumers will watch ads, especially if they are relevant to them, contrary to the widespread conception that mid-stream ads drive viewers away. The average consumer is happy to watch 1.7 ads within 30 minutes of content. However, if the ads are relevant to the consumer, this number leaps 220% to reach 5.8 ads.
Smart TVs rank as top priority, but have brands forgotten about CTV platforms that many viewers watch and gaming consoles? It is key to target consumers by the content they are actually watching. For example, 64% are targeting sports and fitness, while only 42% of consumers are watching this content. In the other direction, 62% of consumers are watching documentary content, but only 26% of businesses are targeting that content.
CTV is a new world of engagement with potential users for marketers. Now is the perfect time to start advertising on CTV before it becomes too crowded and saturated. The earlier you are in on it, the more you’ll get out of it.
For more info about our CTV advertising services, contact Nour Nawfal