“The number of smart TV users in the US is projected to grow to 119 million in 2022”1. Connected TV/OTT (over-the-top media which refers to a streaming service that delivers content over the internet) are huge deals this year! If Connected TV/OTT aren’t part of your marketing strategy yet it should be, to be able to reap all its benefits. From having high visibility, to increased brand awareness, and precise audience targeting Connected TV and OTT are big deals. Let our team break this all down for you and why you should add these two channels to your marketing strategy today!
Defining CTV and OTT
OTT content or Over-The-Top-Advertising refers to video content delivered to a consumer via OTT devices that are connected to the internet, bypassing traditional cable. On the same hand, Connected TV or CTV refers to the method by which OTT content is consumed on a TV screen (for example: Smart TV or Roku). Now that we have the basics down let’s jump into the benefits of CTV and OTT.
“According to eMarketer, U.S. residents streamed over 80 minutes of content a day last year—up 8.7% from 2020.”2 So as more people stream content, CTV becomes even more critical for you to get the optimum exposure and awareness you need to reach the most customers. For viewers, watching CTV ads is very similar to the normal TV viewing experience. With this being said, these ads have high viewability and completion rates which means you can bet your ads are being viewed in their entirety. As more households continue to connect their TVs to the internet, the time is now to reach your audience!
Increased Brand Awareness
With these ads being 100% non-skippable this can equate to increased brand exposure since you can guarantee the ads will play in their entirety. The more people who view your ad completely, the more your brand will continue to be recognized. These ads are unique because similar to a traditional television experience users are willing to accept watching the ads in order to continue to watch this content. With “72% of US households using OTT”4 the growth of CTV has created an enormous opportunity for marketers to get their brand in front of their audience and increase their brand awareness.
Precise Audience Targeting
CTV and OTT offers the ability to target more precisely, being able to look more into what’s being watched, who’s watching what, and on what device. Unlike traditional TV advertisements CTV has the ability to target in a similar way to other digital channels. For example, as a marketer, you will be able to target by demographics, geo, and recent homepage visitors and past purchasers to create a personalized marketing experience for the user. No longer will you have to question who exactly is watching your TV screen advertisement. With help from a company like Connext we can guarantee you will be reaching the right people.
Increased Conversion Rates
Since OTT ads are clickable it can help provide the marketer with a deeper understanding of who they are really reaching with detailed insights and reporting. In a recent poll “more than a quarter of businesses attribute CTV to higher conversion rates driven by ad experiences that drive consumers to make a purchase”. 3 It’s no wonder after seeing the benefits of adding CTV/OTT to your marketing strategy, will your business see an increase in conversion rates. When you are targeting the right people and reaching them in a way that is easily consumable your audience will be driven to make a purchase.
Get ahead! Connected TV/OTT are only going to become more popular in the coming years. There is no better time than now to implement this channel into your marketing strategy. Are you ready to learn more on how to reach your perfect audience via CTV/OTT? Our team can guarantee your ads will start reaching the right people! Contact us today.