OTT & CTV - The Cornerstone of Holiday Marketing 2022
Published: November 24, 2022
The Holiday Season is in full swing and so is the marketing that goes with it.
According to Digiday’s survey, 40% of brands said they expected to use CTV and OTT ads in their holiday marketing this year, which bumps TV up to third place among the holiday marketing tactics. The gift of CTV for holiday marketing teams is performance as opposed to spray and pray TV ad placements that may or may not work.
In 2022, a whopping 92% of U.S. households were reachable by CTV programmatic advertising. Furthermore the number of CTV users amounted to more than 110 million among Gen Z and Millennials. As viewers rapidly switch from linear TV to streaming alternatives, advertisers are quick to embrace the potential of this digital migration.
While social media and other, newer digital channels are often billed as the channels to be if marketers want to meet consumers where they are, it makes sense that CTV and OTT advertising would be up there with social content. “After all, aren’t consumers often streaming the newest Hulu or Netflix show while they’re scrolling through TikTok and Instagram? That’s a safe marketing bet during the holidays”, reported the Digiday research panel.
In the Interactive Advertising Bureau’s 2023 Outlook Survey, CTV ad spending is projected to increase by 23% year over year in 2023, more than any other channel.
Our Point of View
CTV and OTT advertising will be an indispensable part of the holiday marketing mix, given its rising popularity in tandem with social media channels.
CTV advertising is a win-win for marketers and audiences alike. CTV balances linear TV’s storytelling with digital’s targeting and measurement. At the same time, it provides greater flexibility for audiences to stream on demand and view ad-supported entertainment with fewer, relevant ads.
However, marketers need to tap into CTV viewer personas to understand what messaging will resonate with their audiences. These personas can range from the on-the-fence enthusiasts or culturalists who are heavily swayed by the current buzz or cultural relevance of a show. Or passionate intentionalists to staunch advocates who are deeply aligned based on similar interests or share a deep connection with a show or movie. It can also include the geo-demographic segments of audiences such as young Gen-Z streamers, Tech-Savvy Millennials, Family-Oriented subscribers, Baby Boomers, etc. who share similar lifestyles and behavioral patterns. Based on the unique watching and purchasing habits of these personas, marketers can create tailored CTV campaigns.
Brands can also launch omnichannel campaigns that re-target website visitors and segment audiences based on their on-site actions. The ability to parse on-site actions allows marketers to re-target consumers who demonstrate high purchase intent.
More recently, Roku has partnered with Shopify for the seamless execution of CTV campaigns in their platform. From raising top-funnel awareness to promoting middle-funnel engagement and driving bottom-funnel conversions, brands can do it all.
Another great offering that is influencing holiday shoppers big time is BNPL or Buy-Now-Pay-Later. BNPL orders shot up during the Black Friday season and is projected to surge along throughout the holiday season and beyond. Since more shoppers preferred BNPL, marketers can use this as a differentiator in their CTV advertising.
CTV advertising is set to become ubiquitous and perfectly complements paid social and search campaigns. It’s high time to start leveraging this channel in the holiday marketing mix to reach target audiences, hit KPIs, and make every ad dollar count.
Get Marketing bites delivered to your inbox. Every Friday.
Be the first one to comment.