While online video consumption continues to grow, your average consumer’s TV consumption doesn’t appear to be waning anytime soon; it’s estimated that over 99% of US households own at least one television set. So the big question is, are you taking advantage of the connected television (CTV) market?
CTV, which includes smart TVs and streaming devices like Roku, Fire TV, Apple TV, Chromecast, and Amazon Fire tablets and phones, gives your brand an enormous opportunity to reach new customers in ways never before. This article will walk you through some essential steps to incorporate CTV into your marketing mix and make the most from it.
Find out where they spend their time online and what type of content they consume. This will help you determine whether CTV is your business’s right platform. Once you’ve done this, start by uploading videos onto various platforms and see which ones generate the most attention.
For example, if a video does well on YouTube, try posting it on Facebook Live or Vimeo. Finally, don’t be afraid to experiment with new formats like live-streaming from a Twitter account or using Instagram Stories to connect with potential customers.
Use CTV Prospecting
Use prospecting tools to identify new audiences we may want to show more ads. Keep in mind the people for whom you are marketing and tailor your approach accordingly, so these users can feel a sense of belonging with your brand.
Retarget individuals who have visited your brand or dealership website by serving them a CTV advertisement through banner ads on other websites, search engine results pages (SERPs), social media networks, mobile apps, and online videos.
Make sure you build retargeting lists using the same information you used to build prospect lists so that your advertising dollars reach the right viewers at the right time.
Advertising on CTV can be expensive because it requires significant research and an extensive understanding of consumer behaviors. The cost also depends on the number of channels you want to advertise, affecting your reach in the marketplace.
Nevertheless, connected TV is a great way for businesses to market their products or services; just be prepared for a bigger budget than if you were using traditional advertising methods like radio or TV.
To effectively use this type of marketing, business owners need to first focus on connecting with customers online through websites, blogs, Twitter, etc., so that they know what interests them and how they prefer to communicate.
When choosing networks to advertise, it is important to know who your audience is watching at home or elsewhere. Therefore, before making a purchase or hiring an agency, ask yourself these questions:
- What do I want my brand identity to be?
- What are my goals?
- Who is my target audience?
- How will the video content be distributed?
- How much time and money can I spend on video marketing, and how often should it be updated?
- How important is this project to me as compared with other initiatives?
- What are my competitors doing?
- Is video just one piece of a larger integrated marketing strategy for me? Or is it the centerpiece of my campaign?
The answers to these questions will determine your approach. For example, if you’re launching a new product and you’re launching this product in five months, your priority may be getting people excited about your launch.
In that case, you would choose low-cost tactics like email blasts and press releases. But if you’re trying to maintain an existing customer base, you might use more expensive tactics like paid search advertising.
Watching content on CTV is often less expensive compared to traditional TV. In addition, connected TV gives marketers access to cross-platform data and enables cross-platform targeting options; this leads to an increase in conversion rate.
The entire process is simple, you can start by understanding your audience and what kind of creativity they prefer. Then work backward to determine when they’re most likely to engage with that content.
Consider specific times during the day when it might make sense to advertise different types of content; this could depend on where your customers live and their age demographic.
Thanks to the increased ad recall rate, millennial cord-cutter audiences, and reduced banner blindness, CTV ads perform better than any other ad environment currently in use.
Rest assured your ROI will never be the same, and with the rise of new technology, it is the perfect time to engage with this new media.