CTV is changing TV advertising attribution for the better. Short for connected TV, CTV provides brands with an invaluable opportunity to connect with target consumers. The challenge lies in quantifying the possibility of establishing connections with such consumers. In other words, attribution is a challenge. CTV ultimately catalyzes brand and product awareness along with subsequent sales. CTV has an edge over other more conventional forms of advertising in that it performs attribution accurately and quickly.
Driving Conversions
CTV has a strong selling point in that it plays an important role in driving conversions. Advertising attribution on comparably traditional and dated mediums has proven more difficult and less accurate than that of CTV. Advertisers deserve to know if their ads placed on CTV drove conversions and they need that information in a timely manner. CTV provides exactly that, especially when juxtaposed with traditional TV and other mediums that require significantly longer to produce quantification.
Part of the appeal of CTV is its targeted attribution capability. Businesses looking to zero in on specific viewing cohorts in exact locations are now empowered to do so thanks to the industry’s technological innovation. The optimal attribution will help identify and comprehend the target audience, feature a digital household map and ultimately verify that the advertiser’s message reached the target audience.
Data-Driven Analysis and Insights
Linear TV provides more of an attribution that is probabilistic, meaning it is not concrete in terms of data accuracy. Advertisers are looking for more than estimations and standard reports. Though the conventional approach to attribution provides demographic data, the industry is evolving, partially as a result of the advances spearheaded by CTV.
CTV advertisers are provided with timely and accurate measurements through SDK integrations, tracking pixels and software, making it that much easier to understand engagement levels with general viewers and target viewers. This is the in-depth data and understanding necessary to predict consumer behavior moving forward and ultimately steer more customers to a business.
Businesses that opt for CTV commercials ultimately enjoy a more thorough comprehension of their advertising performance both in terms of efficiency and frequency. CTV also provides extensive details on viewer behavior, especially when using TV, highlighting the genres, networks, shows and points in time when target viewers are most likely to watch.
Businesses that take full advantage of CTV by using key performance indicators and establishing the right partnerships will find it is that much easier to connect with the target audience through these relatively new platforms. CTV’s key performance indicators provide an opportunity to analyze online traffic, viewership, conversions and additional sales data. This analysis is conducted with the use of first-party customer relationship management data, software development kits and third-party pixel tracking.
Every business and other parties that use streaming TV advertising should stress the importance of metrics that gauge results as opposed to channels. As an example, analyzing key performance indicators that are channel-specific such as clicks and open rates does not provide a clear view of overarching performance, ultimately making it difficult to make a truly well-informed decision. Consider the entirety of the customer journey, spanning numerous channels and devices, use that macro view to shape your campaign moving forward and you’ll find data-driven CTV ads help establish lasting connections.
CTV Attribution is Easier Than Most Assume
There is no reason to be intimidated by the prospect of connected TV advertising and attribution. Though the technology is still blossoming, it is accurate and effective. Seize the opportunity to use CTV for ads and you’ll find the litany of software and additional tools facilitates attribution and analysis of the viewer journey.
CTV analysis allows for an in-depth understanding of traffic sources, attribution platforms, user activity and the marketplace for a comprehensive view from several perspectives. Businesses that use this opportunity for analysis to develop a meaningful understanding of their campaign’s strengths and weaknesses, then pivot accordingly will ultimately make the most of the medium’s advertising potential.
Be Cautious When Measuring Attribution
Accurate and timely attribution is important yet it has the potential to misinform. The truth is, most consumers are shoppers before buyers, meaning they will revisit brands over and over again before converting into paying customers. However, once conversion occurs, it has the potential to be a lifelong connection. Understand the role attribution plays, measure it with caution, and use attribution along with other factors to make your marketing decisions and you’ll move forward in confidence.