CTV Advertising Innovations - Increasing Brand Awareness on the Big Screen
In the modernization era of the internet, where people desire content with comfort, CTV has reconciled exceptionally well with the preferences of consumers. Rapid technology, along with the interactivity and convenience of digital platforms, merged with traditional television benefits, make it ever more popular. It has enabled viewers to access on-demand content and discover new ways of consuming media beyond traditional cable and satellite TV.
Connected TV has boosted the power of the big screen and transformed it into an outstanding platform for advertisers to showcase their brand to millions of people. There are 1.1 billion CTV devices worldwide, and India is expected to have 40 million by 2025, as per the FICCI-EY report. As audiences continue to migrate towards digital content consumption, CTV offers advertisers a compelling avenue to effectively connect with their target demographics. As a result, spending on CTV advertisements has increased significantly; it reached $25.9 billion globally in 2022 and is anticipated to reach $91 billion by 2028.
Role of CTV in Helping Advertisers Achieve Brand Awareness Goals
Connected TV has swiftly emerged as a prominent platform for advertisers, primarily owing to its broad reach and notable engagement potential. According to a Forrester study, CTV advertisements are 20% more effective at raising brand awareness than conventional TV advertisements due to:
High-quality content delivery: CTV inventories such as MiTV and Samsung offer a premium environment for delivering content to audiences. Advertisers can showcase their brand in a clutter-free and superior setting, enhancing the overall perception of their products or services. The larger screens of smart TVs contribute to a more impactful visual experience, making it easier for brands to capture and retain viewers' attention.
Engagement potential: CTV ads are typically more engaging than traditional TV ads, as they can be interactive and personalized. A survey by Magna Global discovered that CTV advertising has an average viewability rate of 85%, compared to 65% for traditional TV ads. This increases the likelihood of piqueing the interest of viewers towards the brand and getting the maximum result out of it.
Viewers of CTV ads are more likely to recall commercials: CTV advertisements are usually more eye-catching and visually appealing, ensuring that viewers remember them longer. According to a survey, viewers of CTV are 15% more likely to remember commercials than viewers of regular TV. This is due to the fact that the big screen increases the ad tolerance capability of viewers, and native targeting opportunities make the CTV ads more likely to be noticed by the intended audience, which relates to the brand.
Innovative Strategies to Win the Advertising Game with CTV
1. Target the highest performing inventory of CTV
Not all CTV inventory works the same and achieves the desired results. To maximize the impact of your CTV advertising, focus on targeting the most effective and relevant inventory that performs well on the required KPIs.
For instance: on the launch of the Toyota All New Agya, MOCA, a close partner of Toyota ran an effective campaign on MiTV CTV to cover a targeted audience and achieve brand exposure with Short videos. On a single day of its live broadcast, it generated more than 21 million impressions with premium media coverage, twice as much as anticipated.
2. Use creativity and experiment with Ad formats
Every campaign requires a distinctive preposition to convey the brand message and give users a lasting impression. To achieve this, one can experiment with various ad formats, such as pre-roll, mid-roll, and post-roll advertisements, as well as interactive overlays and native ads. To find the ad format that appeals most to your target demographic, run an A/B test. A study by Google Ads says that interactive CTV commercials are 20% more likely to stick in viewers' minds. This means that you can increase the recall value of your advertisements by adopting innovative and interesting ad formats.
3. Optimize contextual audience targeting to reach quality users
On the basis of demographics, interests, devices, and content, CTV advertising offers a variety of targeting alternatives. The most effective of these is contextual audience targeting, which allows users to show your advertisements to people who are watching content that is relevant to the brand. By employing this tactic, you can be certain that users who are genuinely interested in your goods or services will see your advertisements. It makes it more likely to connect with high-quality users who will interact and buy.
4. Keep it short and simple
CTV viewers are more inclined to skip ads that are too long. Keep your ads short and to the point, and you'll be more likely to get your message across. A study by Nielsen found that 70% of CTV viewers skip ads that are longer than 30 seconds. This means that you need to keep your ads short if you want viewers to see them.
Conclusion
The future of CTV advertising is promising. As more and more people cut the cord and switch to streaming services, the demand for CTV advertising is expected to grow, creating new opportunities for brands to connect with audiences in meaningful ways. With a clear advertising goal, attractive ad format, effective TV inventory, and best performing services, businesses can achieve the goal of capturing maximum user attention and win the brand awareness goal with CTV advertising!