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1、A deep dive into performance TV advertising and exclusive insights on how to use it as a growth engine.Performance TelevisionThe New and Improved TV Advertising.For television advertisers,upfronts and Newfronts season sets the tone for the rest of the year.And in 2023,the big story was Connected TV(
2、CTV).Advertisers plan to allocate 40%of their 2023 budgets to CTV,bringing upfront spend on this channel to$8.14 billion.These days,there are two approaches to advertising on television:branding and performance marketing.Interest in the latter,in particular,is on the rise:where TV used to be an awar
3、eness-only play with a high price point that precluded smaller brands from participating,CTV has made the television advertising world vastly more accessible.66%of MNTN customers are first-time TV advertisers,indicating that this ad market is expanding to a wider variety of brands.The way advertiser
4、s use the channel is shifting,as wellin a co-published MNTN survey,65%of marketers reported that they consider CTV a performance channel.Read on to learn more about performance television advertisingwhat it is,how brands are using it,and tips for how to successfully leverage it to drive real results
5、.An Introduction to Performance Television Advertising 3CTV:an Emerging Performance Advertising Channel 5Brands are Seeing Notable Results with Performance TV 7How to Successfully Use CTV as a Growth Engine 9Conclusion 10Table of Contents.PERFORMANCE TELEVISIONTHE NEW AND IMPROVED TV ADVERTISING 3Te
6、levision has historically been an awareness play,but Connected TV has changed the way this channel can be used by advertisers.WHAT DO WE MEAN BY“PERFORMANCE TELEVISION”?This method drives direct,measurable outcomes via Connected TV advertisingall while making sure that your message connects directly
7、 with in-market viewers.The ultimate goal?Generate more traffic,conversions,and revenue,and tie these metrics to your advertising efforts.CTV offers the speedy setup and real-time results that advertisers expect from other performance-focused digital channelssearch,social media,etc.It also comes wit
8、h similar features:Precision audience targeting Ability to rapidly change creative Ability to set up specialized campaigns for different markets and audiences Real-time reporting Different ad lengths(15 vs.30 second)THE CURRENT STATE OF UPFRONT VS.PROGRAMMATIC TV AD BUYINGFor years,brands made the m
9、ajority of their television advertising buys at upfronts.But times are changing,and with the rise of CTV viewership,the way advertisers spend is also changing.Many brands are now opting to spend programmatically to best use television as a performance channel.Upfront TV ad spending overall is expect
10、ed to approach$20 billion this year.According to one survey,buyers say they plan to spend just 49%of An Introduction to Performance Television Advertising.PERFORMANCE TELEVISIONTHE NEW AND IMPROVED TV ADVERTISING 4their annual video budgets at the upfronts in 2023down from 56%just last year.Only 27%
11、of buyers expect to increase their upfront spend this year,as opposed to the 51%who reported increases last year.TV advertisers are instead expected to turn to programmatic in increasing numbers in 2023.Before the pandemic,53.5%of CTV ad dollars were spent programmatically.But this year,eMarketer ex
12、pects that percentage to reach nearly-three quarters(74.4%)of CTV ad spendingamounting to$14.04 billion.Programmatic ad buys go hand-in-hand with performance advertising,which makes this a key development for the growth of performance marketing on CTV.3 out of every 4 ad dollars will be spent progra
13、mmatically in 2023PERFORMANCE TELEVISIONTHE NEW AND IMPROVED TV ADVERTISING 5H2 2020H2 2022As viewership numbers rise,more advertisers are turning to CTV to produce results.Connected TV viewership is steadily increasing,especially when it comes to ad-supported contentnot a huge surprise,considering
14、that every major streaming service now has an ad-supported offering.According to data from TVision,CTV viewers spent just 36%of their time on subscription-only,ad-free streaming platforms in H2 of 2022down 30%since 2020.Time spent on ad-supported CTV,on the other hand,rose 55%(up to a 48%share).CTV:
15、an Emerging Performance Advertising Channel.Source:TVisionDistribution of Time Spent Viewing CTV10%20%30%40%50%60%mVPD-5%SVOD-30%Ad Supported+55%-38%Other0%PERFORMANCE TELEVISIONTHE NEW AND IMPROVED TV ADVERTISING 6Because of this,ad-supported CTV is becoming an integral part of marketing mixes.MANY
16、 ADVERTISERS VIEW CTV AS A PERFORMANCE CHANNELAND ARE USING IT THAT WAY.In a survey conducted in partnership with Advertising Week,MNTN found that while 81%of marketers said they use CTV to raise brand awareness,two-thirds classify it as a performance marketing channel.And many brands use CTV to dri
17、ve specific outcomesover half of respondents said they use CTV with the aim of generating measurable web visits,conversions,and revenue.of advertisers use CTV to drive key performance metrics like web visits,conversions,and revenue52%Source:MNTN&Advertising Week,How Marketers are Approaching the TV
18、Ad Renaissance,April,2023PERFORMANCE TELEVISIONTHE NEW AND IMPROVED TV ADVERTISING 7Not only are advertisers using Connected TV as a performance channel,but their efforts are succeeding.In our MNTN Research Q4 Performance Report,which analyzed data sourced from the MNTN platform in 2021 and 2022,we
19、found that performance-based CTV marketers generated more revenue and conversions,and even saw their average conversion rate improve by 21%YoY in 2022.Return on advertising spend(ROAS)also saw significant growth during the holiday season,rising 26%and 18%YoY in November and December,respectively.Bra
20、nds See Significant Results with Performance TV.Source:MNTN Performance TV Data,Q4 22 and 21.Only includes advertisers with recorded metrics 90%of total days in Q4.Q4 CTV Advertisers Generated More Performance (Year-over-year increase of key metrics,22 vs 21)Verified Visits+47%Revenue+34%Average Con
21、version Rate+21%Total Conversions+49%+69%Users ReachedOur report also found that CTV really has transformed the television screen into a viable,measurable,full-funnel option for advertisers,thanks in part to the ability to tap into both 1st-and 3rd-party data sets to help them reach consumers.PERFOR
22、MANCE TELEVISIONTHE NEW AND IMPROVED TV ADVERTISING 8Source:MNTN Performance TV Data,Q4 22 and 21.Only includes advertisers with recorded metrics 90%of total days in Q4.Why the Full Funnel on CTV Matters64%more users reached with prospecting vs.retargeting5xROAS for retargeting vs.prospectingTo reac
23、h new consumers and bring them into the sales funnel,advertisers started by using third-party audiences for prospecting campaigns.Then,to stay top of mind,they used retargeting to serve CTV ads to their website visitors.The importance of this one-two punch cannot be overstated.Other notable findings
24、 from the full funnel approach in Q4:Prospecting campaigns had a slightly higher average conversion ratemeaning it pays to target the right TV viewers and optimize for specific performance outcomes.Retargeting helped generate higher return on ad spend(ROAS)and a lower cost per acquisition(CPA)by sho
25、ring up audiences brand familiarity.Prospecting and retargeting are strongest when used together.Advertisers who launch with prospecting and retargeting deliver 27%more site traffic and 2x more ROAS over their first 90 days than those who launch with Prospecting,alone.+PERFORMANCE TELEVISIONTHE NEW
26、AND IMPROVED TV ADVERTISING 9How to Successfully Use CTV as a Growth Engine.We know it can be daunting to take on yet another advertising channel,especially if youre not familiar with performance television(or even if you are).Heres some good news,though:many advertisers,maybe even in your industry,
27、are currently succeeding using CTV.So rather than reinventing the wheel,you might as well borrow from their playbook.We analyzed data from the top 25%of brands using the MNTN platform to answer two big questions:1.how new advertisers can build a successful CTV strategy,and 2.what those already using
28、 CTV can do to maximize their results.Heres what we found:GOOD THINGS TAKE TIME.The first 75-90 days of Connected TV campaigns are critical to driving performance.Within the first 75 days,ROAS grew significantly,and at the 90-day mark,cost per acquisition(CPA)decreased substantially.CTVs auto-optimi
29、zations mean that the system is always learningand therefore will deliver better results over time.ADVERTISERS NEW TO CONNECTED TV CAN BENEFIT FROM BOTH PROSPECTING AND RETARGETING.As mentioned above,advertisers who launch with both prospecting and retargeting deliver more site traffic and better RO
30、AS than with prospecting alone.CONSISTENCY IS KEY.MNTNs top advertisers succeed with evergreen strategies where prospecting and retargeting campaigns run continuously.This enables advertisers to make the most of campaign optimizations over time.Its also an important piece to maximizing key business
31、moments,such as holidays or relevant times of yearbrands that led into these seasons with evergreen campaigns saw an increase in ROAS despite increasing their investment around holidays.Performance television is not only becoming more popular with advertisers,its producing significant results.As CTV
32、 viewership continues to rise,brands who havent are wise to consider adding the channel to their marketing mix to get in front of engaged consumers and drive business.But its not simply about being on CTV,advertisers need to be strategic in order to drive top performance.To successfully use CTV as a performance channel,brands should give their campaigns time,develop full-funnel advertising strategies,and stay consistent with their efforts.Visit MNTN ResearchWant to learn more?Get Ahead of the Pack with a Consistent CTV Strategy.