Vertical Benchmarks Week: "2024 Advertising Insights Report for Auto"
Editor's Note: Today is Day 1 of Innovid's "Vertical Benchmarks Week." Automotive and consumer packaged goods (CPG) are the first vertical industries where we're sharing Innovid's unique data from hundreds of billions of impressions on frequency, reach, and creative performance. As the week continues, we'll also explore our data on four other vertical industries — financial services and insurance, pharmaceuticals, QSR/restaurants, and retail — to help advertisers gauge campaign performance in specific markets.
Automotive brands know there is huge potential in CTV advertising. With interactive carousel ads, you can entice buyers by showcasing galleries of beautiful interior and exterior shots of a car model. You can even use dynamic creative optimization (DCO) to interpret data signals to serve the relevant car model to the viewer based on their geolocation. And with advanced measurement tools, automotive brands can ensure they’re maximizing unique reach and minimizing overlap in their CTV advertising campaigns.
Innovid’s new 2024 Advertising Insights Report for Auto gives automotive marketers the fuel to take their CTV and digital advertising where they want it to go. This report, which is based on Innovid’s unparalleled data set, analyzes hundreds of billions of video ad impressions delivered by our ad server in 2023.
Especially for automotive advertisers, Innovid has an unrivaled window into streaming viewership and video advertising. Our data-driven report offers automotive brands benchmarks and other insights that can help them gauge how well their video ad campaigns are performing. The report also helps auto marketers understand how to connect, engage, measure, and drive outcomes with CTV and digital advertising.
Here are key high-level findings from the report for auto advertisers:
- CTV continues to grow. Almost two-thirds (64%) of Innovid’s automotive video ad impressions in 2023 were CTV, an increase of 88% since 2019. Consumers are flocking to CTV and leaving traditional linear TV behind. Advertisers understand this fact and are boosting their spending on CTV advertising.
- Advanced creative performs. Interactive CTV advertising delivered an engagement rate that outperformed all other formats by at least 2.8x.
- Case Study: Achieving 94% unique reach. The report also features a case study on how Davis Elen helped its client, the Southern California Toyota Dealers Association, achieve 94% unique reach percentage across cross-device partners with a minimal 6% overlap.
The 2024 Advertising Insights Report for Auto includes insightful video advertising data on video completion rates, CTR, engagement rates, and average frequency and reach.
.webp)