As more time is spent on connected devices, the need for CTV Advertising is higher than ever - and thanks to Verizon, all the Programmatic Benefits are at your fingertips.
On June 30th, 2020 a new and exciting partnership was made between Verizon Media and Vizio Inc. in efforts to close the gap within attribution across different devices and channels with the introduction of their product; CTV tune-in attribution.
Only a few years ago, Verizon Communications introduced Verizon Media, with a focus on media and online business, in hopes to transform how people stay informed and entertained. This new service was launched alongside Inscape, a subsidiary of VIZIO, which can help media buyers measure the performance of their ads while helping advertisers gain a better understanding of how their ad content is driving revenue.
VIZIO is known for providing a wide array of products, such as TVs, speakers and soundboards, but is also widely known for competitively pricing their goods to consumers. Today, VIZIO makes up for nearly 20% of all smart TVs in the US, making Inscape the largest single source of licensed smart TV viewing data available in the country.
What is TV Tune-In Attribution?
This feature matches digital ads with views on VIZIO smart TVs, which will ultimately help better measure ROI on ad spend. Tune-in attribution is a measurement tool that assists media buyers and marketers in promoting CTV (Connected TV). It’s used to quantify the impact of a digital ad campaign, by enabling them to distinctly indicate which ad spend drives viewers to streaming services. The Verizon Media DSP (demand-side platform) attributes TV show tune-ins to ads served on any channel, including mobile, video, desktop, CTV, native and more.
CTV Advertising and How It Can Help a Brand
CTV advertising operates through any device which is designed to support multimedia and connect to the internet, thus putting the viewer in the driver’s seat. Some of these devices include PlayStation, Xbox, Blu-ray Disk Players, Smart TVs or other video streaming devices. This gives brands the power to launch prospecting campaigns that reach new audiences or retarget site visitors using First and Third-Party data, Frequency Caps, and IP Targeting.
Ads on CTV provides huge opportunities to hone in on a target audience stemming from the fact that users are required to log in with universal credentials, like a Google or Facebook account, to use connected devices. Marketers can take advantage of a variety of demographics and Internet behaviour, including zip code, geolocation, interests, language, and more. An ad spot is then purchased when the viewer(s) match your desired audience.
Much like standard TV ads, CTV ads run for typically 15 to 30-seconds during premium, ad-supported shows provided by top-tier networks through display ads on any device. For good measure pre-roll and mid-roll advertising are offered at the times when users are most likely to observe the ad and continue watching their streamed content. Performance is viewable at any time with insights into site visitors, page visits, creative performance, and more that can be captured in your demand-side platform (DSP) or fully integrated into Google Analytics.
CTV Ads are shown across a variety of networks and apps accessed through Smart TVs or OTT devices. Some Networks include Apple TV, Roku, ESPN, Bravo, and CNN.
Cost & Metric Tracking
Before moving forward, some key terms to remember are:
- CPCV: Cost-per-completed-view
- VCR: Video completion rate
- CPM: Cost per thousand (/per 1000 views)
CTV advertising is bought and sold programmatically and takes place in a private marketplace (PMP), which is favourable to marketers seeking a placement in an auction with fewer bidders. Unfortunately, this means that an invitation is required to participate. Gaining entry into the private marketplace enables select advertisers to acquire inventory spots within specific site sections, sub-sections, as well as creative formats that are not available in the open auction environment.
When it comes to pricing, prices can be 3 to 5 times higher than standard video placements since better outcomes and stronger impressions are almost guaranteed. On the upside, the cost-per completed view (CPCV) is almost always cheaper than the CPCV for standard video assets.
Contrary to popular belief, the metrics and performance indicators of CTV advertising operate differently than display advertising. Since "clicks" can't necessarily be tracked unless streaming via a laptop or mobile device, view time such as CPCV and VCR will be the primary metrics of success for Connected TV campaigns.
As the length of time consumers spend on connected devices increases, partnered with the indisputable explosion in CTV viewership, now is the time to consider how CTV advertising can supplement or enhance linear and addressable TV strategies. There are four direct advantages for brands leveraging Connected TV advertising:
- The ability to test out creative messaging before TV buys
- Increased reach for extending linear TV campaigns
- Enhanced interactivity thus resulting in higher levels of engagement
- Increased ad exposure to cord-cutters and cord-nevers
Advancements in technology have completely supercharged the way people watch television. Programmatic advertising helps marketers deploy perfectly targeted, personalized ads to the right people with optimal cadence, and provides marketers with the ability to measure the effectiveness of campaigns in real-time.
For more assistance or key recommendations surrounding your next media buy, reach out to the elite team of programmatic experts at Hotspex Media.