Vertical Benchmarks Week: "2024 Advertising Insights Report for CPG"
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 you gauge campaign performance in specific markets.
CPG brands know there’s huge potential in CTV advertising — especially when it comes to the power and versatility of shoppable ads. With shoppable ads, you can include store locators to drive foot traffic. You can include recipes using your product to drive purchases. And of course, you can use shoppable ads to enable consumers to buy directly from your TV spot.
Innovid’s 2024 Advertising Insights Report for CPG has arrived, and this data-driven report is designed to help you take full advantage of what CTV and digital advertising have to offer for CPG marketers like you. 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 CPG advertisers, Innovid has an unrivaled window into streaming viewership and video advertising. Our data-driven report offers CPG brands insight into how well their video ad campaigns are performing. The report also helps CPG marketers understand how to connect, engage, measure, and drive outcomes with CTV and digital advertising.
Here are the high-level findings from the report:
- CTV continues to grow. Almost half (49%) of Innovid’s CPG video ad impressions in 2023 were CTV, which represents an increase of 58% 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 video delivers 5.6x higher click-through rates than standard display and 2.5x higher CTR than standard video.
- Shoppable CTV ads delivered for Energizer. With CTV advertising as a new element in its omnichannel mix, Energizer saw a sales lift that was 12x higher than the previous year. Specifically, shoppable CTV ads drove 18% higher ROAS than standard CTV ads.
The 2024 Advertising Insights Report for CPG includes insightful video advertising data on video completion rates, CTR, engagement rates, and average frequency and reach.
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