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BizReport : Advertising : May 31, 2021

Study finds many using CTV to bridge TV, digital ad gap

A growing number of marketers are pushing more ad dollars into connected television advertising (CTV), which makes sense because of the huge surge in streaming activity over the past 12 months. But, these marketers aren't just following consumers. Instead, the report finds that many are using CTV as a bridge between traditional television and digital ad buys.

by Kristina Knight

Researchers with Innovid and Digiday delved into advertisers' spend in the streaming space and note that about 41% of marketers began shifting small budget amounts into CTV well before the pandemic. The key is in how they're using CTV. According to the report most (83%) of those running CTV ads are also running social campaigns, 79% are also running digital display campaigns and 77% are running mobile video campaigns. This digital coverage is happening because about 64% believe CTV campaigns can bridge the gap between traditional television ads and more innovative digital campaign offerings.

Their gamble that CTV could bridge that gap to help build more solid brand affinity seems to be paying off. Researchers found that about 59% of marketers believe their investment in CTV has paid off in higher brand awareness, and 50% say they've seen improved brand engagement. However, now all the news with CTV is the same. Only about one-quarter say they've seen increases in campaign conversions, and only about one-third (39%) say they've seen an increase in their return on advertising spend.

Other interesting findings from the report include:

• 64% believe CTV will help improve audience targeting
• 50% believe CTV will help improve campaign relevance
• 58% worry that CTV doesn't have consistent enough measurement
• 41% worry about inventory fragmentation

"Our joint report with Digiday reveals that while CTV has grown exponentially in the past year and marketers are increasingly making it a part of their omni-channel strategies, there's still room for education and growth in the industry," said Stephanie Geno, Innovid CMO. "Marketers clearly understand the opportunity that CTV presents, they just need more help to realize its full potential. To meet the challenges and opportunities arising from CTV's growth, Innovid is focusing on helping brands consolidate their omni-channel strategy to efficiently deliver, personalize and measure ads across all screens and devices. We believe that marketers who are equipped with these tools will perform better as television increasingly moves online and away from the cord."

More data from the Innovid and Digiday report can be accessed here.

Tags: advertising, advertising trends, connected TV advertising, CTV ad tips, CTV ad trends, CTV advertising, Digiday, Innovid, mobile marketing, video ad trends, video advertising

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