By Grant Cohen, GM, Measurable Extension at Kochava
Advertising on CTV for major brands and endemic streaming services has long been successful, with conversion rates up to three times higher than in other digital channels in some cases.
Now, there is room within CTV for a broader advertising ecosystem which includes a much wider set of performance brands too – from mobile apps and games to D2C brands and eCommerce sites. Those that can leverage it successfully will be able to access diverse consumer segments with rich creative experiences on the biggest screen in the home, while driving high completion rates and viewability.
The success shown by endemic streaming brands has driven growth in CTV advertising to a point in which performance focused brands are more frequently entering the fold, looking to get their hands on the potential returns.
CTV manufacturers are leading the way
One of the biggest drivers of this initial growth is the fact that the hardware manufacturers have been playing a role in curating the advertising experience. Many of the leading original equipment manufacturers (OEMs) are creating engaging new ways for performance brands to execute ads, such as custom landing pages with new interactive features.
Measurement however remains a challenge for non-endemic brands. These brands are seeing conversions in a range of forms across other platforms. To measure success, they are relying on a range of signals on other platforms for attribution to their own digital funnels.
While admittedly more complex, this isn’t to say measurement isn’t possible. There are various techniques and methods for measurement and attribution. For success, brands must plan ahead and adapt to ensure they can ride the growth of CTV.
Implement new measurement windows
While streaming services can track direct conversions within their apps, performance brands must connect CTV exposure to actions taken on other devices or in physical locations. We’re no longer just looking at 24-hour windows, brands moving into CTV must understand and implement longer measurement windows than other more directly actionable digital channels.
This reflects how viewers process TV ads over a longer period than in mobile and ultimately capturing the journey requires more data along with more patience.
Multiple touchpoints
Where the conversion path is longer and more fragmented, attribution becomes more complex. Non-endemic brands will need to leverage cross-screen measurement to understand the complete consumer journey.
This means establishing multiple measurement touchpoints to capture comprehensive performance insights. Collecting more data that can assist in painting a picture of user activity will also go some way to building organisational confidence in CTV as a performance channel.
Plan ahead
Before launching campaigns, establishing robust measurement frameworks is crucial. For performance focused brands in particular, this means looking beyond traditional metrics to capture the full impact of CTV exposure.
Measurement is now a whole range of signals that can be understood and pieced together to create a bigger picture. In order to orchestrate a wider strategy, you need to be clear on what these signals mean and how they represent impact for your brand.
Flex the form
Lastly, be creative and innovate. QR codes have found new life in CTV advertising when thoughtfully integrated into creative executions. Dynamic creative optimization (DCO) is also making inroads, enabling advertisers to modify creative elements in real-time based on retargeting website or in-app actions or content viewing context.
The most successful brands will develop specific creative strategies that consider the unique CTV viewing environment and are tailored for more accurate measurement. Rather than repurposing your existing assets, leverage the unique capabilities of CTV.
The road ahead
As CTV continues to evolve, brands across the board looking to enter the fray will need a measurement strategy that can capture the full impact of their advertising investments. With streaming services expanding into commerce and retail brands creating original content, its the brands that prepare and plan ahead who will rise to the top and reap the potential rewards made available by the evolution of platforms.
