As a business owner, you know that reaching those most likely to purchase your products or services can be remarkably challenging. You not only have to know who your audience is, but you have to use the right strategies to reach them and ensure the success of your ad campaign.
Advertising costs time, money, and effort, so you want to do everything possible to connect to the right consumers the first time. Enter connected TV (CTV) advertising, the future of targeted ads that allows business owners to hone in on leads most likely to convert to loyal customers.
Here’s what you need to know about CTV advertising platform solutions:
CTV Is Changing How Businesses Advertise
CTV content is more popular than ever before, and even if you haven’t heard the term yourself, chances are you already consume the content every day. An internet-connected device, including an Amazon Fire Stick, Roku device, smart TV, or gaming console access CTV content.
In 2023, 46% of adults in U.S. households are watching content on their TVs via a connected device each day – up from 40% in 2020 — showing CTV is increasing in popularity with no signs of fading away anytime soon.
CTV advertising, in particular, refers to video ads delivered to those viewers via the services found on their internet-connected devices, including Netflix, Hulu, Paramount+, and Peacock, all of which offer ad-supported tiers for their audiences.
It is a type of marketing that is cost-effective and efficient, allowing business owners to track the metrics of their campaigns in real-time and precisely target their audiences.
CTV advertising allows marketers to gather first- and third-party data to target specific audiences across several parameters, including age, gender, and purchase behaviors.
First-party data is information collected from your client base when they interact with your site or make a purchase, and it is immensely valuable because it comes directly from your customers.
You can use your first-party data to leverage your website traffic and retarget users with high-impact CTV ads. You can also upload email lists and target customers with similar CTV ads.
Third-party data is that which is collected across the websites, apps, and registrations of other companies. A provider will gather the data from several businesses without direct relationship with your customers.
Consumer attributes like personas, interests, demographics, age, gender, and income can help you reach new audiences on CTV platforms, making your products or services more likely to be purchased.
We’ve all experienced ad fatigue — seeing one ad so frequently that its content is no longer a product or service we’re interested in. We might even become annoyed with the brand at a certain point. When you use a CTV advertising platform, however, you can use frequency caps to ensure your target audience doesn’t see the same ad repeatedly.
A pop-up asking if you’re willing to accept a website’s “cookies” happens all the time, but you may not know what cookies are or their purpose.
Computer cookies are small files that web servers use to save a user’s browsing information. They let websites remember your computer or smartphone, browser preferences, and associated online activity. Cookies often cause privacy concerns.
IP targeting through CTV platforms allows you to bypass them while targeting entire households and their connected devices without significant privacy issues.
The Benefits of Precision-Based Targeting
Precision-based targeting helps businesses advertise to consumers who are most likely to purchase their products or services. Some additional benefits of the tactic include things like cost-effectiveness and increased engagement.
Say goodbye to wasting money on ad campaigns that are too broad: precision-based targeting through CTV advertising platforms allows you to target leads most likely to convert.
This strategy allows you to increase your sales without breaking your budget. In addition, since you’re targeting an audience that is already interested in what your business offers, you can boost engagement and build connections that generate loyal customers.
How to Launch a CTV Ad Campaign
Running a CTV advertising campaign is easy when you partner with CTV industry experts like those at MNTN, which offers a platform where you can launch and track your CTV advertising campaigns in the following four steps:
- Upload your ad
- Pick your target audience
- Extend your campaign
- Set your budget and go live!
Once you go live, you can track your ad metrics in real-time, allowing you to make adjustments at a moment’s notice and thus improve your targeting strategy on the fly.
The Future of Targeted Ads Is CTV Advertising Platform Solutions
If you want your business’s ad campaigns to be successful, you must appeal to the right audience, and when you make use of CTV platforms, you get robust data, which allows you to target ideal consumers with utmost precision.
CTV is the future, and as a business owner in the modern era, you need to take advantage of it to stay ahead of the competition.