“The value that CTV brings is this data driven approach to targeting and an opportunity to use creative in a way that it’s not being used today.” - Lance Wolder, PadSquad Head of Marketing
Last week we had the opportunity to participate in the VideoNuze 2023 CTV Advertising Preview, a comprehensive virtual event that covered the future of connected TV. PadSquad’s Head of Marketing, Lance Wolder, led a session on CTV UX Innovation, while other stellar participants spoke in sessions on trends and opportunities, FASTs and more. From insights on targeting and ad effectiveness to a look at the potential of data-driven strategies, the VideoNuze CTV Advertising Preview was packed with valuable information for brands looking to get the most out of their CTV campaigns. Read on to check out our top four takeaways from the event.
1. The Rise of AVOD and FAST
As video streaming continues to gain traction, AVOD (Ad-Supported Video on Demand) and FAST (Free Ad-Supported Streaming Television) are emerging as two of the most popular ways for consumers to access content. In fact, recent studies suggest that the amount of people who choose these options over subscription services is growing steadily. This is great news for publishers and advertisers alike, as it opens up a wealth of new inventory that can be used for targeted advertising campaigns. Additionally, publishers will also reap the benefit of increased revenue from the ads, making AVOD and FAST increasingly attractive propositions for everyone involved.
2. Outcome-based Measurement
Measurement is key to helping advertisers understand their CTV ad campaigns' effectiveness, allowing them to make data-driven decisions. With outcome-based measurement, brands can now identify which ads are resonating with consumers and determine what content they should be investing in to maximize their ROI. This gives marketers a better understanding of the value of their investments in CTV advertising and helps them optimize their campaigns for maximum success.
3. Shoppable CTV
QR codes are just the beginning for shoppable CTV. VideoNuze’s CTV Advertising Preview highlighted the evolution of shoppable CTV advertising with more advanced capabilities such as enabling viewers to buy items right from their TV screens, creating a unified, streamlined experience that bridges the gap between viewing and purchasing. As this technology progresses, CTV will become an even more powerful sales channel, bringing shoppers to the point-of-purchase faster and more effectively than ever before.
4. Testing Mentality
Having a testing mentality is essential for both advertisers and publishers when it comes to CTV advertising. A testing mentality allows them to measure their campaigns more effectively and identify the most effective ways of reaching their desired outcomes. With access to detailed data, advertisers and publishers can develop better strategies and refine their campaigns accordingly, leading to better performance and greater ROI. Testing is essential for successful CTV campaigns, as it enables advertisers and publishers to make better decisions and optimize their campaigns for maximum effectiveness.
The future of CTV advertising looks promising, with more and more brands recognizing its value and effectiveness. However, there is still work to be done in terms of measurement, performance, and shoppable capabilities in order to truly maximize its potential. By continuing to strive for better outcomes, brands can stay ahead of the curve and benefit from the growing reach of CTV.
If you're looking to amplify your CTV strategy and creative, get in touch with our team to learn more about Advanced CTV capabilities.
