The Convergence of CTV and Advertising

Advertising is a competitive landscape where everything is rapidly changing. Advertisers aren’t just changing the targeting approaches but also adding new mediums to reach their intended audience.

Connected TV is one of the advertising landscapes which is gaining popularity among advertisers these days. According to a report 59% of advertisers invested in CTV ads which boosted their brand awareness.

In the fast-paced advertising field, the convergence of connected TV advertising has emerged as a pivotal development. Let’s delve into the foundational understanding of CTV advertising.

What is CTV Advertising?

CTV means “Connected TV” which includes television that is used to stream content with the help of the internet. CTV includes smart TVs, gaming consoles, and other media streaming devices (which turn traditional TV into smart TV).

In simple terms, connected TV advertising refers to the ads that occur on the CTV platform. This platform has brought a revolutionary shift in how audiences are consuming content today. For 2023, it was predicted that cord-cutters will be more than cord-nevers.

Indeed CTV has gained popularity among the US audience as it reaches two out of three US viewers which is 100% more than 2017.

Now that we have gained fundamental knowledge about CTV and CTV advertising, let’s look into the opportunities it offers advertisers.

Opportunities Advertisers can leverage through CTV Ads

1. Better targeted advertising

Advertisers can reach a specific audience based on demographics, interests, and behavior. With this approach of targeting, advertisers can deliver highly relevant ads to the user which can significantly impact the chances of user engagement and conversions.

2. Better Optimization

Advertisers can effectively optimize their CTV ads as the platforms offer a wealth of data. CTV provides advertisers with metrics such as completion rates, viewability, and engagement rates; these insights help advertisers make data-driven decisions for optimization as well as for future campaigns.

3. Better Reach

CTV is growing day by day. According to insider intelligence, there were 225.7 million US users in 2022, a projected 242.3 million users by 2026 (source). This offers advertisers an opportunity to reach a massive audience effectively.

4. Reduced Frauds

In terms of security, CTV offers better security and transparency than the traditional form of advertising. In CTV ads it’s easier to spot fraud.

5. Premium Inventory

Over-the-top (OTT) platforms provide advertisers with access to a vast inventory of CTV advertising through open exchanges and private marketplace arrangements. 93% of US smart TVs are accessible through BasisTV+.

6. Personalised ads & Cost Effective

Because CTV allows more precise audience targeting, there is less ad wastage, because the right demographic sees the advertisements. Because of this, advertisers are able to provide users with cost-effective, tailored advertisements.

Future of CTV Advertising

To maximize the effectiveness of this advertising channel, advertisers will need to keep current on technological advancements and marketing strategies as CTV advertising continues to gain popularity. For their intended demographic, advertisers may design a tailored and purposeful advertising experience by utilizing omnichannel marketing techniques, targeting tactics, and the advantages of CTV advertising.