Connected TV (CTV) advertising is a rapidly growing market, and it's important for brands to stay up-to-date on the latest trends. Here are a few of the most important trends to watch in 2023:
Addressable advertising
Addressable advertising is a type of advertising that allows brands to target their ads to specific audiences. This is in contrast to traditional TV advertising, where ads are typically shown to a broad audience. Addressable advertising is becoming increasingly popular on CTV platforms, as it allows brands to reach their target audiences more effectively.
For example, let's say you're a brand that sells shoes. You could use addressable advertising to target your ads to people who have recently searched for shoes online, or who have shown an interest in fashion on social media. This would allow you to reach people who are more likely to be interested in your product, which could lead to more sales.
Growth of streaming services
The number of streaming services is growing rapidly, and this is having a major impact on the CTV advertising landscape. As more and more people watch TV on streaming services, brands are looking for ways to reach these audiences. This is driving demand for CTV advertising.
In 2022, there were over 900 million streaming subscribers worldwide, and this number is expected to grow to over 1.6 billion by 2027. This growth is being driven by a number of factors, including the increasing availability of high-speed internet, the rising cost of cable TV, and the growing popularity of mobile devices.
Importance of data-driven targeting
Data-driven targeting is the use of data to identify and target specific audiences with advertising. This is becoming increasingly important in CTV advertising, as it allows brands to reach their target audiences more effectively.
There are a number of different data sources that can be used for data-driven targeting, including first-party data (such as data collected from website visitors), second-party data (such as data collected from partners), and third-party data (such as data collected from data brokers).
By using data-driven targeting, brands can ensure that their ads are seen by the people who are most likely to be interested in their product or service. This can lead to better results, such as increased brand awareness, website traffic, and sales.
Programmatic CTV advertising
Programmatic CTV advertising is the use of software to automate the buying and selling of CTV advertising. This is becoming increasingly popular, as it allows brands to buy and sell CTV advertising more efficiently.
Programmatic CTV advertising works by using software to match ad inventory with demand. This can be done through a variety of different methods, such as real-time bidding (RTB) and private marketplaces (PMPs).
RTB is a process where advertisers bid on ad inventory in real-time. This means that the ad that is shown to a viewer is determined by the highest bidder. PMPs are closed marketplaces where advertisers can buy ad inventory directly from publishers.
Programmatic CTV advertising offers a number of advantages over traditional CTV advertising, such as the ability to target ads more effectively, measure results more accurately, and get better deals on ad inventory.
These are just a few of the most important trends to watch in CTV advertising in 2023. By staying up-to-date on these trends, brands can ensure that they are reaching their target audiences effectively and efficiently.
Here are some tips for brands that are looking to get started with CTV advertising:
Choose the right platform: There are a number of different CTV platforms available, so it is important to choose the right one for your needs. Consider factors such as reach, audience, and pricing when deciding.
Create engaging ads: CTV ads should be visually appealing and engaging. Use high-quality video and audio, and make sure your ads are relevant to your target audience.
Target your ads effectively: Use data-driven targeting to reach your target audience with your ads. This will help you to get the most out of your advertising budget.
Measure your results: It is important to measure the results of your CTV advertising campaigns. This will help you see what is working and what is not, so you can improve.
CTV advertising is a powerful tool that can help brands reach their target audiences effectively. By following the tips above, you can get started with CTV advertising and start seeing results. What are you waiting for? Contact us and request a demo with Targetoo.