5 Ways to Elevate Connected TV Campaigns in 2024

The digital advertising landscape is undergoing a seismic shift, with Connected TV (CTV) emerging as a dominant force. Consumers are rapidly abandoning traditional cable for the freedom and control offered by CTV, with projections placing nearly 50% of viewing time on CTV platforms by 2024. Recognizing this trend, advertisers are gearing up, with CTV ad spend anticipated to reach a staggering $26.7 billion.

This explosive growth presents an unprecedented opportunity for brands to connect with highly engaged audiences on the big screen. However, simply saturating the market with ads is no longer acceptable. To truly maximize your CTV success in 2024, a refined and strategic approach is key. Here are five key tactics to unlock the full potential of this dynamic platform.

 

Diversify the Inventory Mix

Perhaps one of the most significant evolutions of the past year was within ad-supported TV streaming, with both traditional TV networks and newer players jumping in. Advertisers should embrace the ability to reach high-value audiences on powerhouses like Netflix, Disney+ and Prime Video.

Another area advertisers need to be aware of is the growth in free ad supported TV (FAST) platforms like Pluto TV (Paramount) and Tubi (Fox), which offer cost-effective ways for cord-cutters and cord-nevers to consume content. While both platforms have a strong presence in the US, Tubi currently holds the lead with 51MM users. However, Pluto TV’s global reach of 80MM users suggests a substantial US user base as well. Both platforms, along with other popular FAST platforms, continue to see steady growth, making them attractive options for advertisers seeking to reach large audiences in the US.

But premium platforms come with premium prices, and balance is key. Don’t underestimate the power of niche apps that have dedicated communities with passionate viewers, even if their audience size is smaller.

 

Break Down the Silos

Connected TV doesn’t exist in a vacuum and integrating CTV campaigns with other advertising channels can create a powerful omnichannel experience that boosts reach, engagement, and return on investment (ROI). Here are some tactics to consider:

  • Social Media: Retarget viewers who saw your CTV ad on social platforms for deeper engagement or website visits
 
  • Search Engine Marketing (SEM): Use keywords based on your CTV ad to drive relevant searches and capture viewers at the consideration stage. Analyze search queries to inform CTV ad targeting and messaging.
 
  • Mobile: Retarget viewers engaged with your CTV ad on their mobile devices with relevant ads while they’re on the go. Offer location-based promotions or use geofencing to trigger mobile ads near stores.
 
  • Digital Out-of-Home (DOOH): Combine the mass reach of OOH with targeted CTV ads to create a memorable, multi-sensory experience. Use OOH to drive viewers to streaming platforms or specific programs featuring your ads.
 

Successful integration requires planning and coordination, but doing so effectively will create a cohesive brand narrative across platforms, reinforcing your message and driving deeper brand recall. Choose channels that align with your target audience and campaign objectives. Leverage unified reporting systems to ensure seamless messaging and track campaign performance for optimization.

 

Integrate New Audience Data and Insights

With CTV serving as one component of cross-channel campaigns, it will be important to utilize new data approaches that enable consistent audience targeting, regardless of the channel. The old way of audience targeting quickly falls apart when trying to sync audiences across platforms and tools. Find a partner that can provide scalable audiences that can operate within these environments. LocalFactor’s Geo-Graph™ and customizable LFID audiences are one option for you.

Beyond activation, you will also need a way to unify siloed performance data from the platforms. This is something that many brands or agencies opt to do in-house, but to do so requires ample time and resources, and unforeseen challenges tend to arise. Finding a partner who has pre-built connectors across platforms is going to be the fastest way to gain valuable insights.

 

Elevate Your Creative Game

While Connected TV still operates largely as a branding medium, there are exciting opportunities for customization compared to traditional TV, allowing you to craft more relevant and engaging ad experiences for viewers. Doing so leads to increased relevance, stronger performance, and deeper consumer insights. 

Dynamic creative optimization (DCO) is a popular method for customization, which automatically personalizes elements of your ad like the product featured, call to action, or the featured store locations. With this approach you have additional optimization levers based on real-time audience response and engagement metrics.

Another popular approach is to add interactive features, like clickable or shoppable elements, that drive viewers to more product information, your website or landing pages. Other engagement driving options include polls, quizzes, and the option to view more videos. There is a ton of flexibility and customization options available that can be tailored to your brand and campaign.

Another way to get more out of CTV investments is to dynamically repurpose social media posts for CTV use. LocalFactor seamlessly pulls in any public social posts or stories from a brand, and creates a branded CTV video unit, enabling brands to get more out of their existing assets, at no additional production cost.

Successful CTV ad customization brings together audience segmentation, relevant messaging, and seamless integration with the platform and content environment. By utilizing these methods, you can create personalized ad experiences that resonate with viewers and drive desired results for your campaigns.

 

Embrace Uncertainty and Experimentation

Pushing into new territory will always come with some uncertainty, which causes some brands to miss out on unique opportunities for growth. Brands should lean into this, understanding some tactics will work, and others won’t. The key is to have a plan and to adapt quickly.

A/B testing has been a  cornerstone of data-driven marketing, and the same holds true in the realm of CTV. By strategically comparing different versions of your campaign elements, you can unlock insights to maximize engagement, conversions, and overall effectiveness. Here’s a quick guide to get you started:

 

  • Define goals and metrics: What do you want to achieve? Identify the key metrics that align with your goals, such as conversion rate, click-through rate, or completion rate.
 
  • Formulate a testable hypothesis: What element do you think impacts your chosen metric? Define a clear hypothesis around your chosen variable and predicted outcome.
 
  • Select Your Variables: Choose one element to test at a time. Trying to change multiple variables simultaneously makes it difficult to isolate which one drives the impact.
 
  • Set up your test: Divide your campaign into control and test groups. A quality partner can help set this up for you.
 
  • Monitor & Analyze: Regularly track your chosen metrics for both groups throughout the test period.
 
  • Learn & Adapt: Did your hypothesis hold true? Analyze the data to understand what resonated with your audience. Integrate learnings into future campaigns, continuously optimizing your CTV strategy for better results.
 

Remember, start small with simple tests before tackling complex ones. By following these steps and embracing a data-driven approach, you can unlock the true potential of your CTV campaigns.

 

Connected TV is not just a passing trend; it’s the future of television advertising. By adopting these five key strategies, your brand can unlock the immense potential of this exciting channel, and achieve unparalleled success across broader marketing initiatives. 

Partnering with a leading omnichannel programmatic services company like LocalFactor can help you navigate the evolving CTV landscape, with access to premium inventory, unique data and custom creative solutions, unlocking the full potential of CTV in 2024. Contact our team today to learn more and follow us on LinkedIn for the latest digital media insights!

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