What do you get when you combine Innovid’s analysis of +110B video ad impressions, with Target Roundel’s annual shopper survey? An unprecedented look at changes in consumer behavior and how advertisers are adapting media and creative strategies to keep up with them.
We all know it, because we’ve all lived it – consumer behavior has been turned on its head. How we find information, engage with brands, and ultimately purchase everything from groceries and clothing, to electronics and even cars looks very different from even a few years ago.
Now, combine all of that with the fragmented media landscape, where consumers are dispersed across platforms and devices, and advertisers have had to rethink strategies for reaching and engaging with audiences. And many have done this through 1) diversifying their video mix, with CTV playing a larger role, and 2) adopting advanced creative strategies to strengthen relevancy and drive actions.
Roundel and Innovid teamed up to create – CTV x Commerce: Media & Creative Strategies to Build Loyalty & Drive Shoppable Experiences. The report looks at these market changes, and provides practical, impactful advice for a multi-faceted market where there’s never been more ways to reach and engage with audiences.
Roundel and Innovid teamed up to take a closer look at how the changing, fragmenting video landscape is impacting advertisers and consumers alike. “CTV x Commerce: Media & Creative Strategies to Build Loyalty & Drive Shoppable Experiences” includes insights from Target’s shopper survey, Innovid’s CPG benchmarks, real-world case studies, and practical, impactful advice to all advertisers.
Here’s just a peek of what you’ll find:
- Shoppers are Streamers: Get the findings from the latest Target Shopper Survey, but here’s a spoiler – shoppers and streaming go hand in hand. Among Target guests, 91% subscribe to streaming services and 57% use a streaming service supported by ads, which is 24% higher than last year. They devote an average of 15.6 hours to streaming a week, with 73% spreading that time across 3+ streaming services.
- Streaming Drives Commerce: Among Target Shopper Survey respondents, 21% have purchased a product they learned about from a streaming ad. And 34% would be willing to scan a QR code while using a streaming service to discover a new product.
- CPG Advertisers are Turning to CTV: Where consumers go, advertisers will follow. According to Innovid data, CTV has established itself as an integral part of the CPG media mix, accounting for 51% of global video impressions in 2022, an increase of 64.5% compared to 2019.
- Relevant, Engaging Creatives Growing: With CTV platforms offering more opportunities for advanced creatives, CPG advertisers have increased the number of interactive CTV campaigns by 32.7% in 2022, with impressions devoted to it growing by 68.4%. Data-driven dynamic video and display ads are also popular options, outperforming standard video formats by 36.4% and 190%, respectively for click-thru rates.