Two-thirds of US advertisers use CTV to build stronger digital, TV link | Media Analysis | Business | News | Rapid TV News
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The ongoing streaming boom has prompted brand marketers to spend more ad dollars on connected TV (CTV) and revamp their TV advertising through a digital lens, and as marketers understand the power of CTV it is increasingly gaining traction says research from Innovid and Digiday.
Innovid Digiday CTV advertsing 27May2021
The State of CTV Advertising report surveyed more than 100 brand marketers and agency executives to determine where industry stands in CTV advertising journey. The report revealed when and why marketers began investing in CTV, how they are measuring success, ad performance challenges they are tackling, and how CTV fitted into their omni-channel strategy.

Among the key findings were that while 41% of respondents began shifting investments to CTV 1-3 years ago, nearly half began less than a year ago (24%) or hadn’t started (24%). But the survey also revealed that marketers know the opportunities that come with CTV adoption; nearly two-thirds (64%) were hoping to achieve more precise audience targeting and 50% expect improved relevance among consumers.

Respondents also said investing in the channel has significantly increased brand awareness (59%) and brand engagement (50%). However, only just over a quarter (26%) can attribute CTV to higher conversion rates. A majority of respondents (39%) were also seeing an increase in return on ad spend (ROAS), while a third of respondents had not yet quantified exactly how investing in CTV has impacted their return on ad spend.

In the course of the research, a number of challenges and concerns emerged. Inconsistent measurement (58%), targeting the right audiences (53%), and inventory fragmentation (41%) were pinpointed as the key challenges marketers encounter as they integrated CTV advertising. To tackle addressability challenges, more than half of respondents said they were using audience targeting (69%) and first-party data (64%). To better measure performance and overcome performance obstacles, a majority (68%) are partnering with ad tech companies like DSPs, SSPs and ad servers.

Another key finding was that CTV had become an important part of brands’ omni-channel strategies. As many as 83% of respondents had run CTV ads alongside social media, followed by display advertising (79%), mobile video (77%), desktop video (67%) and linear (54%). In addition, 64% of respondents said they view CTV as a strategy for building a stronger connection between digital and TV advertising.

“Our joint report with Digiday reveals that while CTV has grown exponentially in the past year and marketers are increasingly making it a part of their omni-channel strategies, there’s still room for education and growth in the industry,” Innovid CMO Stephanie Geno commenting on the State of CTV Advertising report.

“Marketers clearly understand the opportunity that CTV presents, they just need more help to realise its full potential. To meet the challenges and opportunities arising from CTV’s growth, Innovid is focusing on helping brands consolidate their omni-channel strategy to efficiently deliver, personalise and measure ads across all screens and devices. We believe that marketers who are equipped with these tools will perform better as television increasingly moves online and away from the cord.”