Hello, readers! Since you’re on Innovid’s website, I’m going to guess that you are well aware of just how much the TV ad industry has changed over the last 5 years. Viewers are now in control of how, when, and where they consume content. Of course, that also turned our industry on its head … and it was about time!
Advertisers have stepped up by adapting their video mix, media, and creative strategies to reach and impactfully engage with audiences that are dispersed across time, platforms, and screens. That’s why we partnered with Ascendant Network, a private network for senior-level marketing and retail professionals, to uncover what is happening today among converged TV advertisers – how they leverage data, tech and good-old innovative thinking in a multifaceted media landscape that is bursting with opportunities.
The end result is our newly launched report: The Future of Converged TV: How Advertisers are Adapting the Video Mix to Reach & Engage Audiences “Where They Are.”
While I encourage you to read the entire report (it’s packed with real-world stats, anecdotes, and examples that show just how possible it is to thrive as an advertiser in the world of converged TV), let’s dive into some key learnings.
- It’s all about having a diverse video mix: Respondents agreed that the key to harnessing the potential of converged TV relies on finding (and continually refining and evolving) the right video mix across linear, CTV, and digital. The most impactful mixes are not only diverse, but also “living/breathing” entities that are continuously adapted and optimized in-market for better reach and performance.
- While the mix is diversifying, buying is centralizing: Among all respondents, 80% buy converged TV through one centralized team (goodbye buying silos … let the door hit you on the way out). Each platform is considered part of the greater converged TV investment. And what are advertisers looking to get out of these buys? The top goals were ranked as 1) audience targeting, 2) reach/incremental reach, and 3) outcomes.
- Measurement techniques vary widely, but KPIs are aligning across platforms: There is a consensus that having a holistic, unified view of converged TV measurement is critical, but making that a reality is still a work in progress for many. While 18% use one measurement partner for linear, CTV, and digital video, the majority of respondents use various methods to gauge campaign impact – from tools provided by publishers or built directly in-house, to using different partners for each platform.
Despite the diversity in the way measurement is done, what is being measured is increasingly aligned, with 45% measuring the same KPIs across linear, CTV, and digital. The highest ranked KPIs for converged TV were online outcomes (86%), offline outcomes (57%), and incremental reach (43%).
- Creative strategies are modernizing, but need to pick up the pace. For most respondents, creative strategies are still largely rooted in the linear – starting with a “big idea” that is then conveyed into a 60/30-second spot. With that, there are signs that advanced creative is taking root, with personalization at scale (48%) and interactivity at scale (35%) ranked as high priorities in 2023 for all respondents.
You can download the Innovid X Ascendant Network report here – and let us know what you think!