18 days ago | Digital Advertising
Netflix, Hulu, HBO Max, Disney Plus. The streaming platform options just continue to grow. As more and more people give up on cable and log onto apps, many marketers are wondering how to shift their precious advertising dollars. One thing is for certain, the future is currently streaming in through your internet-connected devices.
What is Connected TV?
Connected TV or CTV is content streaming through apps. Well, the term CTV specifically refers to the actual devices that support video content streaming, such as an Xbox or Amazon Fire TV. OTT or Over-the-Top is the content being streamed through the CTV devices. However, these terms are pretty much interchangeable at this point and we refer to the entire process of streaming content as CTV.
One thing is certain, industry experts are aligned that viewers will continue to untether themselves from their cable boxes and shift online.
“Consumers benefit from a windfall of premium content that they can watch when they want, on demand. In this new age of television, prime time is anytime.” -The Trade Desk
One thing CTV is promising is the ability to reach those vast audiences that have cut the cord. So, is CTV all that it’s cracked up to be? Let’s look at the stats.
The Latest CTV Stats
It’s quite clear that viewers are flocking to streaming apps. In fact there are so many platforms uploading to our devices broadcasting companies are starting to bundle them. In turn, marketers are adjusting their creative efforts to target these various audiences and adjust their budgets accordingly.
COVD-19 Pandemic Impact
As with most things on the planet Earth, the COVID-19 pandemic drastically interrupted the digital marketing landscape. Viewers switched to CTV at an accelerated rate during the societal lockdowns.
“We essentially compressed, maybe, 3 to 5 years of change into 15 months.” - Tim Sims, CFO The Trade Desk
Since then agencies and marketing experts have been scrambling to pivot to take advantage of the growing programmatic inventory available through these streaming platforms. Even better, targeting and metric tracking are far superior for CTV than on traditional linear tv.
Oodle Utilizes CTV
Here at Oodle our team of media strategists have embraced CTV head on. We recognize the impact these streaming services are having in the digital marketing industry. Our strategists take extra care to target just the right audiences and partner with the best vendors.
Also, those data-driven insights make CTV a much more tempting media channel, allowing our team to be more efficient and agile.
“Oodle has seen measurable impact from incorporating CTV into the media mixes of clients with longer sales cycles and higher price points. Its inclusion has been able to drive results to meet client’s marketing and business objectives by bringing new prospects to their sites and building brand credibility” - Katie - Director of Digital Media
Case Study: UCO
Connected TV has had a definitive impact for our client The University of Cincinnati Online.
Oodle applied a two-pronged approach for targeting potential students for UCO. We implemented a very robust brand awareness campaign and then continued to drill down into specific degree programs. Combined with these media channels, CTV has been able to drive a very significant lift across both our brand awareness tactics and individual degree lines.
Source: MiQ Study for Oodle
Has your company been mulling over the idea of advertising on streaming platforms? We can help answer some of your burning questions and see if CTV is right for your marketing strategy. Drop us an inquiry here.