Streaming TV is an essential component of business marketing strategies. It offers a variety of platforms and channels for businesses to reach their target audiences, with hands-on capabilities to adjust messaging and videos in real-time for preferred results and expedited return on investment.
With many options and a growing cord-cut audience, businesses must consider advertising on streaming media services.
Cost-Effective Advertising
As people shift from traditional cable TV to streaming services, the advertising opportunities are endless. Because streaming services have so much online data about their users, advertisers can target the right viewers and align their ads with what they’re watching. This is much more cost-effective than linear TV advertising and allows smaller businesses to reach the audience that migrated away from traditional media.
Another big benefit is that OTT/CTV advertising can be adjusted and optimized in real-time. This allows brands to tweak their messaging and videos quickly, yielding preferred results and expediting a return on investment. Traditionally, ad performance data is only delivered well after a campaign has ended; by then, it’s too late to optimize.
Additionally, ad-supported streaming services are continuing to grow in popularity. Even though many cord-cutters initially ditched their paid TV subscriptions to save money, two-thirds of them are willing to watch ads if they’re relevant and don’t interfere with their viewing experience. Because of this, ad-supported streaming platforms can be more effective for reaching the cord-cutting generation than subscription-based video-on-demand (SVOD) services. With more than 130 different channels and apps, finding the perfect platform that matches your brand’s needs is possible. The variety of content available also allows marketers to balance precision targeting with broader reach, making it easier to find the ideal viewer.
Streaming Content on All Devices
With a streaming TV campaign, advertisers can use hyper-targeting that goes far beyond the traditional targeting of geographic zones. Targeting viewers based on their device, demographic, interests, income, and more is possible. These targeting capabilities allow for 1:1 engagement, which is impossible in traditional linear advertising.
Connected TV (CTV) devices are an increasingly popular way to access streaming media. Most CTVs are smart, meaning they can connect to the internet and have apps that enable them to stream content. Those without smart TVs can buy a stick-style device that plugs into their TV’s HDMI input to stream video and audio. Almost half of the US population has access to a CTV, and people spend an average of 2 hours and 29 minutes each day viewing digital video on these devices. This is an opportunity that businesses shouldn’t ignore.
Real-Time Metrics
As a marketing channel, TV has the benefit of providing marketers with real-time metrics. This allows advertisers to track how many people have viewed their ads and whether those views are qualified. The ability to measure results in real-time helps to make the decision-making process much easier for businesses when it comes to maximizing advertising dollars.
Another key benefit of streaming TV for businesses is that it allows brands to reach the right audience. Traditional linear TV is bought on a Gross Rating Point basis, meaning the company hopes that a certain percentage of the total audience will see their ad. However, with CTV, brands can choose the audience they want to reach, such as a demographic or interest (like those currently looking to purchase an automobile). This makes it much more likely that the ad will positively impact conversions.
As a video streaming service provider, it’s important to put your customers at the center of your strategy to help drive growth and loyalty. A customer value management approach enabled by technology is essential for reducing customer churn and improving profitability. The best way to achieve this is by personalizing subscriber experiences based on data and customer behaviors. In addition, implementing an effective marketing acquisition strategy is crucial for generating higher ROI on your marketing spend.
Increased Engagement
Streaming TV advertising provides an engaging and effective way for businesses to reach their target audiences. It also allows for greater measurability than traditional linear TV ads. This hands-on approach to advertising enables businesses to adjust messaging and videos in real-time, leading to more successful campaigns and faster returns on investment.
Increasingly, consumers are skipping paid cable subscriptions in favor of ad-supported streaming TV services. With more than 130 streaming services and over-the-top (OTT) devices available, there are numerous opportunities for businesses to advertise their products and services.
When consumers see your ad on a streaming service, they are more likely to remember it and take action. This is because it’s displayed on a larger screen, which gives it more visibility and attention than news feeds or social media videos.
However, to be effective for your streaming TV ad, you must create high-quality content that resonates with the viewer. Ensure your content aligns with your brand’s identity and appeals to the right audience to maximize engagement and conversion.