During these unprecedented times, businesses are having to shift strategies and explore new ways of generating revenue. At Simpli.fi, we are here to help and support our clients in achieving these goals. One area where we believe we can add significant value is helping advertisers and partners leverage OTT/CTV advertising during the COVID-19 outbreak.
With so many people now homebound due to shelter in place orders and social distancing efforts, the amount of time consumers spend viewing streaming media is understandably skyrocketing. Not to mention, the lack of live sports content has also significantly contributed to the streaming surge. With content streaming on the rise, advertisers have a unique opportunity to reach their audience in new ways and on more devices within the home.
At this time, advertisers need an OTT/CTV advertising solution that reaches consumers at the household-level across all devices, as well as the ability to track online conversions and minimize wasted impressions.
Advanced OTT/CTV Targeting with Three Distinct Methods
To make sure we are helping our advertisers and partners leverage OTT/CTV advertising to the utmost, Simpli.fi offers a variety of different targeting methods to ensure that you are reaching the right audience, all while minimizing wasted impressions and maximizing ROI. Let’s take a look at some ways this can help you or your advertisers drive revenue during this crucial time.
Addressable OTT/CTV Targeting
As we mentioned previously, more and more consumers are spending the majority of time at home due to CDC and WHO guidelines regarding practicing social distancing and avoiding large gatherings. With so many consumers homebound, along with a 60% surge in the amount of video content being consumed in U.S. households due to worldwide health fears (Nielsen), advertisers have a unique opportunity to reach their customers at the household-level.
Utilizing the same location-based targeting technology as our Addressable Geo-Fencing solution, Addressable OTT/CTV targeting gives advertisers an effective way to reach consumers in over 126 million households across their OTT/CTV devices. In practice, this means advertisers can serve OTT/CTV ads to almost every household in the U.S. at a time when so many consumers are homebound and watching streaming content.
In addition, advertisers can utilize our Addressable Audience Curation (AAC) tool to build and activate a custom household-level audience in real-time using location data (such as postal codes, city/metro, congressional districts, etc.) and more than 500 offline data variables (including demographic, economic, and political variables) for inclusion or exclusion via full Boolean capabilities.
For instance, consider a national clothing retailer with multiple locations across the U.S. With so many consumers remaining homebound during COVID-19, the retailer will need to find digital ways to drive online revenue via their website, raise awareness of information and statuses on brick-and-mortar locations, drive loyalty promotions, and more. Using Addressable OTT/CTV combined with the AAC tool, the retailer can curate an audience of households based on variables like: age of residents in the household, number of children, number of adults, discretionary spend, and those who live within postal codes near their various stores. Then, deliver relevant OTT/CTV ads to each household across both the big screen in the living room and other small screens devices.
Behavioral OTT/CTV Targeting
According to a recent article in Forbes, total Internet hits have surged by 50-70% as millions of consumers go online for entertainment and more while they’re under lockdown. This presents another valuable opportunity for advertisers as they can tap into online behavioral data to make sure they are effectively hitting the right consumers with OTT/CTV ads during these pressing times. Advertisers can add another layer of precision to OTT/CTV advertising by targeting users based on keywords, context, and other online behaviors.
Suppose a grocery store chain wants to reach consumers who are homebound during COVID-19. If a consumer in a household searches for “store hours” or “what’s in stock” for that grocery store on their mobile device, Simpli.fi can match that device to any other OTT/CTV devices within the household based on the online behavior and serve them OTT/CTV ads while they are streaming content. Relevant ads can then be served across all OTT/CTV devices at that home.
Demographic OTT/CTV Targeting
Advertisers can also take advantage of numerous combinations of demographic variables to find and target over 126 million households based on over 500 categories of household demographic, political, and economic variables.
Let’s go back to our clothing retailer example from above. Using Demographic OTT/CTV targeting, they can reach consumers at home based on the variables that connect most closely to their brand and clothing options. For example, a high-end retailer aimed at affluent women ages 33-55 could reach an audience based on gender, age, household income, and more—then serve relevant OTT/CTV ads to the homes of these consumers across OTT/CTV devices.
Optimizing at the Household-Level to Drive Performance
During this time, it is essential for advertisers to make sure their advertising is as effective as possible. This means reaching the right person at the right time with a relevant message and minimizing wasted impressions. Simpli.fi offers advertisers the ability to target users based on individual, relevant data elements and then optimize the campaign throughout its duration to maximize performance. Once a campaign is activated, Simpli.fi can then make midflight adjustments to improve performance and reach. The end result is maximum performance and minimum wasted impressions. For advertisers, this translates to increased cost-savings and a significantly better ROI for their campaigns.
Helping Advertisers Attribute an ROI to OTT/CTV Campaigns
We recognize that more and more advertisers are focused on driving online conversions during this time. Advertisers now have the ability to measure online conversions from OTT/CTV ads shown on televisions and other streaming devices with Simpli.fi’s advanced OTT/CTV advertising solutions. During this time of economic volatility, advertisers can attribute an ROI to their OTT/CTV campaigns by tracking online conversions, such as visiting an advertiser’s website, completing a form-fill, adding a product to a shopping cart, purchasing a product, and more.
With such a drastic shift in consumer behavior, we know business needs are changing. We are committed to standing alongside you during these times of uncertainty, and helping you in any way we can. If you have any questions, concerns, or are ready to begin utilizing OTT/CTV advertising to reach the influx of consumers streaming content, contact us at email@example.com. Stay well.