The landscape of television consumption has undergone significant transformation, leading to more accessible advertising opportunities than ever before, especially for small to medium-sized businesses.
Embracing the Shift in Television Consumption
This evolution didn’t happen overnight. It was a gradual shift that seemingly culminated suddenly: consumers have cut the cord. The era of streaming services, now more prevalent than ever, marks an unprecedented turn in how audiences consume television.
Over-the-top (OTT) media, delivered via the internet and bypassing traditional broadcast methods, has transitioned from a burgeoning novelty to a mainstream staple. Currently, more than half of adults in the US subscribe to at least one streaming service, dedicating, on average, over two hours a day to streaming content.
This seismic shift includes both on-demand media and live TV streaming, opening new vistas for businesses to leverage TV advertising—previously a daunting experience, especially for smaller enterprises.
The Advent of Advertising on Television Streaming Services
The surge in connected TV devices and streaming service usage has significantly lowered the entry barriers for television advertising campaigns. Now, small to medium-sized businesses can exploit these developments, benefiting from reduced budget thresholds and enhanced campaign control.
Streamlined Budgets for Broader Access
Platforms like StackAdapt and TheTradeDesk have democratized access to advertising on television streaming services. Their more flexible, sometimes even non-existent, minimum spend requirements, combined with access to granular targeting, render TV advertising a feasible avenue for many smaller businesses.
Enhanced Targeting & Analytics in a Non-linear Consumer Journey
Today’s consumer journey defies linear definition, complicating the measurement of campaign success. However, advertisers on OTT platforms gain an edge from superior data and analysis capabilities inherent in internet-based service delivery. Improved cross-platform tracking is instrumental in gauging the effectiveness of Connected TV (CTV) campaigns.
Unprecedented Customization at Lower Costs
The game-changer for many has been the availability of self-serve platforms accessible through Demand Side Platforms (DSPs). These platforms enable advertisers to orchestrate connected TV campaigns in real-time, eliminating the need for intermediaries. The result? No more hefty budget demands, granting businesses the luxury of time and introspection necessary for optimizing their TV advertising strategies.
Key Considerations and Preliminary Steps for Launching TV Campaigns
CTV advertising, leveraging streaming services for promotional content, has proven immensely successful for local businesses seeking to broaden their marketing horizons. With a likely surge in local TV advertising on the horizon, it will be intriguing to observe how traditional cable television counters this emerging competition.
For business owners contemplating a foray into connected TV advertising, it’s crucial first to pinpoint your objectives and identify the target market. Evaluate whether you prefer agency oversight for your CTV campaigns or if you’re inclined towards a more hands-on approach via DSP platforms.
Opting for an agency partnership? Ensure they’re transparent about cost savings and provide comprehensive campaign performance reports—essential intel for informed decision-making.