This is the first of our webinar series - hosted by our GM of Innovation & Technology, Zane Furtado.
This 15 min webinar will talk about the growing role that CTV plays for brands and marketers. Join Zane to learn why now is the ideal time to explore Connected TV’s latest targeting opportunity, its growing supply in NZ, and the innovative ad units and formats available.
You will discover buying tactics, CTV metrics and reasons to incorporate CTV in you next campaign.
Linear TV was once the dominant medium of choice within marketing, with mass reach delivering by far the best return on investment for Brands. However, a lot has changed with the rapid behavioural shift to social video, subscription video, and OnDemand TV luring more and more people away from traditional linear TV.
In 2019 a report from marketing and media consultancy Ebiquity, they concluded that TV was fast approaching a tipping point after which the medium would likely lose its ROI advantage over other channels. The report projected that the shift in viewing behaviour would continue its rapid spread to older demographics. Here is a view of the changing behaviour of consumers TV viewership in the UK among 16-34 year-olds:
Ebiquity produced a second report early this year comparing the predictions from the 2019 study with the reality of the TV market throughout the last year. It showed that TV audiences had shrunk more quickly than they had predicted and the coverage gap compared to previous years had increased further. This data was so different from their initial prediction it led Ebiquity’s analysts to revise their predictions for 2022.
The data shows that the same ad shown in 2018 will impact 60% fewer teenagers, 50% fewer 18-24 Y.O and 1/3 fewer 35-44 Y.O by 2022. Added to decreasing reach, advertisers face the additional challenge of media price inflation. As audiences shrink, it becomes more expensive to reach the same audience.
TVNZ’s Forecast Series recent data pulled from their daily TVNZ Market Tracker reinforces this trend in New Zealand. All People 16-24 are engaged with online formats for 64% of their video media time and for All People 25-34 it’s 53%. Linear TV increases for 25-34 Households with Children as we expect these households are watching more day time television than non-Parents. See TVNZ graph below.
What both these reports and other media usage data are clearly showing is that linear TV is on its way out with every new SmartTV sold. Utilising other mediums like CTV is the clear way forward. New Zealand is moving in the right direction towards maximising CTV exposure, with TVNZ & TV3 recently making it possible for ads to be placed dynamically into their live streams which opens up a new supply of video inventory and scales up 1:1 video targeting opportunities even further.
Data is a crucial factor in the success of an Advertising/Marketing campaign. Here are a few hot data-driven advertising trends to include in your next campaign strategy.
Data Unification and Identity: It’s important you unify all of your data (across all platforms) into a master customer profile and connect known and unknown data. Known data comes from people you can identify— e.g newsletter subscribers. Unknown data is generated by people you can’t easily identify – e.g those who drop into your website without logging in. By connecting the two along with sales and service data, you’ll be able to understand each unique customers behavioural journey and in-turn deliver exceptional personalised experiences
Journey Management: Today journey management is overwhelmingly data-driven and dependent on having that single, unified view of the customer. Which is why marketers are increasingly working hand-in-hand with sales and customer service. The customer journey its-self continues to move away from being siloed and linear into something that moves across channels and mediums. So, marketers are putting greater focus on omnichannel experiences and synchronising online and offline channels.
1:1 Targeting: 1:1 targeting and communications strategy is founded on first-party data and contingent on having that single, unified view of the customer. With such a cohesive understanding of a consumer’s intent, preferences and history, you can drive campaigns and experiences that speak to a specific consumer’s needs and wants. If done well, high-quality personalised experiences will help convince consumers that there is real value in sharing their data.
Privacy and the Post-Cookie World: With Google’s decision to phase out third-party cookies, Europe’s GDPR or California’s CCPA, it’s clear the privacy regulation landscape is only set to expand. Which is why it’s critical that you stay ahead by adopting a privacy-centric ethos. In practice, this means working with tools that allow your company to implement a scalable privacy policy that can adjust for different regulatory environments. Marketers will have to be more mindful of balancing personalisation with customer comfort.
Evolved Measurement: The focus on customer experience has changed how marketers view and measure success. The percentage of marketers tracking customer lifetime value and customer satisfaction metrics continues to increase and many are becoming more strategic about when and where they analyse certain metrics. It’s likely that over the next 12-24 months those that haven’t jumped on board with AI will begin to adopt it and see benefits, shifting the baseline for what can be done with more advanced measurement systems.
The perfect amount of strategy, mixed with perfect timing, and a dash of perfect creative. How do you know if your advertising campaign is reaching your audience correctly?
Measuring if your adverts are truly connecting with your consumer at a subconscious level has always been near impossible, which is a major concern because this is where most consumer decision-making takes place. BUT we are finally getting better insights into these important metrics.
In a 2019 New Zealand-based study, more than 100 participants of varying demographics were shown a range of newspaper and TV campaigns. Using sensors fitted onto lycra caps, the technology shows how different parts of the brain ‘light up’, depending on how the information is being processed.
The study measured the ability of advertising communications to cut through - to get into long-term memory as well as the intensity of emotion that people felt and their level of attention when they were exposed to advertising content.
The results showed that participants were far more likely to store the detail of advertising messages in their long term memory if the advertising was on premium sites than during general free browsing.
This information is consistent with another study - Neuro-Insight’s 2019 report, which shows that the editorial context, platform, device, and even physical environment in which can impact advertising effectiveness.
GWI’s multi-market study, fielded in 17 countries between April 22 - 27, shows us how the consumer landscape is evolving as some countries hope to enter the recovery phase.
We have created x7 charts from the wave 3 report including NZ vs Global trends & attitudes towards:
In-Home Activities, Media Consumption, Device Usage, Commerce, Post COVID shopping, Finance (Banking), Personal Finance.
