Advertisers are embracing converged TV, which is the combination of linear, connected TV, and digital video. They’re investing more time and money as Innovid’s recent survey of more than 250 brand and agency professionals* clearly shows:
- 61.5% of advertisers are increasing spend on converged TV campaigns. Connected TV, in particular, accounts for a large part of the growth and the excitement. Spending on connected TV is projected to rise from $25.1 billion in 2023 to $40.9 billion by 2027, according to eMarketer.
- To ensure their advertising investments drive results, ad professionals spend large chunks of time optimizing their converged TV campaigns: 55.7% of advertisers spend more than half of their time on optimization.
With so much time and money invested in converged TV advertising, why do only 39.7% of advertisers say their converged TV campaign optimization is “very good”? In other words, why are 60.3% of advertisers falling short?
The converged TV disconnect
Brand and agency professionals agree that measuring converged TV ad performance and optimizing those campaigns based on that data is essential. Because measurement is so important, most advertisers assess their campaign performance on a weekly basis — at least. The problem is that advertisers optimize significantly less than they measure. That’s the converged TV disconnect.
The large majority of advertising professionals measure the performance of their converged TV campaigns often. More than two-thirds (68.1%) are measuring their campaigns on at least a weekly basis.
But advertisers aren’t optimizing their ad campaigns as often as they measure their campaign performance — which is a lost opportunity. A sharp insight yesterday may be worthless today. Speed is essential. Just 57.6% of advertising professionals say they’re implementing media optimization for their converged TV campaigns on a weekly or more frequent basis. That’s more than 10 percentage points below how often they measure.
Here’s part of the issue. As our new infographic, “The Converged TV Disconnect,” shows, there’s a disconnect between measurement and optimization.
How Innovid bridges the gap between measurement and optimization
The disconnect stems from the fact that 62.6% of advertisers are measuring performance on one platform and optimizing on another. So how can advertisers bridge this gap between measurement and optimization? For one thing, they can stop measuring performance on one platform and optimizing on another. They can start using Innovid to turn insights into action, and action into results.
Innovid is the only platform that can connect converged TV ad measurement with the ability to automatically optimize to drive results — all in a single, fully integrated platform. Innovid can help advertisers turn insights into action, and action into results.
*Innovid’s Converged TV study was conducted online by PureSpectrum and surveyed more than 250 brand and agency professionals in North America in August 2023. Marketers surveyed included both brand (55%) and agency (45%) professionals across various industries, including auto, retail, entertainment, and finance.