In today’s world, TV isn’t just about flipping channels with a remote. It’s about having a world of entertainment right at your fingertips, whenever and wherever you want it.
For marketers, it’s also about leveraging that entertainment to reach audiences where they’re paying attention the most.
CTV, or connected TV, is a term that’s becoming increasingly important for digital marketers like you to understand and utilize.
In this post, we’ll take a closer look at CTV channel inventory strategies so you know how to choose, place, and fine-tune your ads for the most success.
Understanding CTV Advertising
In its simplest form, CTV advertising is just the process of placing ads on internet-connected televisions.
This could be through streaming services, apps on smart TVs, or devices like Roku or Amazon Fire Stick. It blends the laser-like precision of digital marketing with the visual impact of traditional TV advertising, making it an incredibly powerful tool for marketers.
Did you know that more than 87% of U.S. households have at least one CTV device? This only underscores the importance of CTV advertising in today’s digital landscape. If your goal is to reach customers where they’re at, CTV is the way to do it.
The Big World of CTV Inventory
Now that you know what CTV is, what exactly do we mean by “CTV inventory?”
CTV inventory is a term that refers to the available spaces or slots where your advertisement can be placed.
These could include more popular channels that attract a broad audience, like Netflix or Hulu, or perhaps more niche channels catering to specific interests, like NatGeo.
Though it might seem simple, choosing the right kind of inventory is extremely important – and can be a bit tricky. It requires a balance between reaching your target audience effectively and staying within budget.
Strategies for Choosing CTV Inventory
Understanding your audience is the first step. Different demographics gravitate towards different types of content.
For instance, younger audiences might be more inclined towards streaming platforms like Disney+ for entertainment, while older demographics might prefer news outlets available via CTV apps.
Next up is your budget. The cost of CTV inventory can vary widely. Popular channels with a broad reach will generally be more expensive than niche channels. However, targeting a specific demographic on a niche channel often results in higher engagement rates.
Your next step is to consider your goals and content type. What are you looking to achieve with your CTV advertising campaign? Are you aiming for brand awareness, or are you more focused on conversions? Your goals should inform not only the type of inventory you choose but also the creative approach to your ads.
For instance, if your target is brand awareness, consider investing in a mix of high-volume channels and premium placements. On the other hand, if conversions are your main goal, focus on niche channels that cater to a specific audience interested in your product or service.
Making the Most of Your CTV Inventory
First, it’s important to make sure your ads are captivating and interesting. Since people are watching on a big screen, your ads should be visually appealing and get your message across clearly. Also, consider the timing of your ads – showing them during popular shows or events can boost their impact.
Tracking and measuring the success of your CTV advertising campaign is another must.
After you’ve run your ads, you’ll want to know if they’ve been successful. One way to measure this is by tracking how many people saw your ad and then visited your website or made a purchase. You can also look at how long people watched your ad for – the longer, the better!
Many CTV platforms offer built-in tracking and measurement tools, but it’s always a good idea to invest in third-party tracking solutions for more accurate data.
If you find that your ads aren’t performing as well as you’d hoped, don’t worry! You can use the data you’ve collected to adjust your strategies.
For example, if you notice that people are clicking away from your ad really quickly, you might want to try a different approach. Or, if you see that your ads are doing great during certain times of the day, you can focus more on those times.
Final Thoughts
Remember, the world of CTV is massive – and it’s constantly evolving. There’s no one-size-fits-all approach, but with careful planning and strategic thinking, you can find the perfect spot for your ads in this exciting landscape.
The future of television viewing is here, and it’s connected, digital, and ripe with opportunities for marketers ready to take the plunge.
