Cutting the cord is not new, it’s just getting more popular as companies such as Netflix and Hulu, which have each been around for more than a decade, continue to rise. But as consumers continue ditching traditional broadcasting platforms with more frequency, brands are being forced to find new ways to reach their audience, and one way they are doing that is through connected media devices and CTV. Unlike traditional broadcasting platforms, which offer a limited amount of commercial inventory per show, CTV is providing brands more flexibility and thus, more opportunity.
“When you think about what’s possible in this new digitized version of TV, and when you think about the fact that more and more consumers are cutting the cord, it allows you to secure more reach than ever has been available before through connected television and online video inventory, but it allows you to be more specific and targeted in how you buy that connected inventory.”
But how brands distribute to platforms and reach their target audience is the challenging part. Stephanie Geno, the Seniior Vice President of Marketing at Innovid, is here to help. Innovid is an online advertising technology company that offers distribution and management of digital ads and on this episode of Marketing Trends, Stephanie dives into how the company is harnessing CTV to change the ad game. Plus, she discusses best practices for targeted advertising, and why personalization is a great tool, if you can get past its downsides.
Main Takeaways:
- Cord Cutters: More and more consumers are shifting their viewing habits from relying on traditional broadcast and cable companies to subscribing to streaming services. And while this is not shocking, what is surprising marketers is the amount of inventory and targeted advertising that is available to them through connected tv and the smart marketers are putting that inventory to work for them.
- Universal Metrics: There is a growing need to create a universal metric system that allows marketers to have a baseline of comparison across various forms of digital marketing. Advertisers need to think in terms of both macro and micro effectiveness across their ad buys, and they need to optimize both.
- Personalized to My Needs: Personalization creates greater relevance for marketers, but it’s also creating a greater ability to be agile. However, it does not come without its pitfalls. When one-to-one personalization entered the market, it set off a chain reaction of overly-complicated strategies and forced marketers to overthink things. Personalization tactics should be used as a tool to broaden your reach, but also to help marketers extend their creative efficiency, with the ability to test, learn and optimize their practices.
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