In the ever-evolving landscape of digital advertising, connected TV (CTV) and over-the-top (OTT) platforms have emerged as game-changers, revolutionizing the way brands engage with their audiences on larger screens. CTV refers to the television sets connected to the internet, while OTT encompasses streaming services that deliver content directly to viewers.
Traditionally, television advertising was viewed as a playground exclusively for large corporations with massive budgets due to its high production and media costs. However, CTV and OTT have rewritten these rules. With the platform’s immense potential, there is a lot of opportunity and potential for advertisers willing to explore these platforms. With so many options and platforms, it can be challenging for smaller brands to navigate the complexities of CTV and OTT advertising.
In this post, we’ll share the top 4 reasons working with a digital marketing agency can make CTV and OTT accessible and effective for brands of all sizes.
- Fragmented Audience and Platforms
One of the primary challenges of connected TV and over-the-top advertising lies in the fragmented nature of the audience and platforms. Unlike traditional television, which relies on a few major networks, CTV and OTT offer a vast array of platforms, apps, and streaming services. While some smaller advertisers may not know where to start, a trusted agency can help advertisers utilize the best platform to reach their unique audience demographics, content offerings, and advertising formats. Agencies understand the fragmented landscape and can effectively help advertisers allocate their advertising budgets and optimize campaign performance.
- Budget Needs & Flight Dates
CTV and OTT advertising allows for flexible ad buying with the ability to adjust campaigns on the go. But with the flexibility, brands also need to be aware of how budget and flight dates impact results. Contrary to traditional TV which necessitates substantial upfront budgets, CTV is flexible and accessible. While a very limited budget likely won’t bring substantial results, a well-defined, targeted campaign can yield impressive results. Agencies can help brands navigate the various factors that influence the cost of running CTV ads, including your target audience and the platforms you select for your campaign. Demand for ad space and your campaign's duration also play a significant role in cost, so it’s important to have a trusted digital partner to make recommendations and manage expectations for your budget. While local advertisers can get away with smaller budgets, if you are trying to reach viewers nationwide, you’ll need a larger investment.
- Adoption of Platforms
With countless platforms for media buying, it can be overwhelming to decide what platform makes sense for your brand. An agency can work with you to understand your goals, audience, and identify the most appropriate platforms for your brand’s needs. When considering the costs of an OTT commercial, it's important to note the diversity and reach of OTT platforms, including Hulu, ESPN, Max, Disney +, and many more. While both CTV and OTT offer similar opportunities, their subtle differences can significantly impact the campaign's cost and effectiveness. Your agency partner can help you optimize your strategy.
- Measurement and Attribution
Measurement and attribution can present significant challenges in the connected TV and over-the-top advertising landscape. Unlike traditional TV, which relies on panel-based measurement, CTV and OTT offer more granular data. Accurate attribution, determining the impact of ads on consumer behavior, is also crucial for optimizing advertising strategies and justifying the return on investment (ROI). Your agency partner can help you understand the metrics like impressions, video completion rates, and clicks to understand how your audience is engaging with your ads.
Connected TV and over-the-top advertising offer exciting opportunities for brands to connect with audiences in a targeted and engaging manner. Remember, while the landscape may seem daunting, there are resources available to help you navigate it. You may want to consider working with a digital advertising agency that has expertise in CTV and OTT advertising, as they can guide you through the process and help you achieve your marketing goals.
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