Growing Your Brand With Efficient Media Planning: Advanced TV
/For brands looking to grow, if you are not using Advanced TV/Streaming/OTT you are throwing money away.
Still the fastest growing media channel globally, Advanced TV allows brands to drive consumers from Awareness all the way to Purchase, with the benefit of tighter attribution and measurement.
Before I back up my claim, what is Advanced TV? While many definitions abound, mine is simple: Advanced TV is video that airs on a large screen and may be targeted to individuals through data. And it has already eclipsed Social Media with daily time spent by over 70%.
Here’s a borderline strange video explaining some of the core terminology in the space.
The 800 Pound Gorilla
Most media plans for growth oriented brands have two primary goals: Awareness and Purchase. The best media planning strategies are more nuanced than this, as these address Involvement, Consideration and even Advocacy as key consumer mindsets. But until recently only one media channel could adequately grow a brand through all five of these steps: TV.
TV has been the 800 pound gorilla for decades thanks to the power of sight, sound and motion on a larger screen. Even when a viewer is distracted, they keep their phones on their lap and are ready to do immediate research into a brand they seeandr hear. Critically, reaching mass numbers of eyeballs is still the most effective way to grow a brand.
Advanced TV takes these same benefits (sans mass reach), adds in less/shorter unskippable advertising pods, and allows us to reach and group targeted consumers for maximum efficiency. It’s the hack.
TV is a home-run hitter, great for when you have the budgets to hire the fancy slugger. Advanced TV is the lead-off hitter who hits singles, runs and scores, just with more precision. Small ball.
With scale increasing every month (Amazon, Pluto, Walmart and HULU are all aggressively increasing their ad supported options), Advanced TV is a nascent powerhouse of media planning. Using ATV’s ability to target households by their purchase data on major retailers like the aforementioned Walmart, Amazon or your own DTC site, tailor frequency to purchase-based audiences and reach ever increasing scale locally or nationally are compelling capabilities for brands.
In fact, one research study (alert: funded by the ATV industry) theorized that the reason cord cutters don’t mind advertising on streaming services is that it tends to be more local and makes them feel connected to their communities.
What Should Growth-Oriented Brands Do About It?
1. Prioritize your investment based on where you’re sold.
Are you available on Walmart.com/Walmart stores? DTC? Amazon? A mix of retailers across the U.S. or a particular region? Knowing these details will allow your media team to create a customized strategy and media plan to minimize waste.
Bonus: Is your product more profitable in certain geographies due to lower competition or less shipping costs? This can help make smarter choices as well.
2. Know your media strategy.
What are your brand’s goals - Awareness? Conversion? Beating a well-funded competitor? Having clear objectives will influence your reach, frequency, targeting and measurement goals with your media planning team.
3. Use Advanced TV in combination with other media channels.
Whether on a smaller scale by targeting the same consumers with full funnel Social Media, or specific geographies with Outdoor or Mobile, Advanced TV works best in combination with other media.
And it can now thrive on its own. And that is the opportunity for growth brands.
Interested in working with Bill? E-mail Bill and set time for a one-on-one meeting.
Source(s):
https://www.mediapost.com/publications/article/334275/cord-cutters-still-open-to-ads-on-streaming-servic.html?edition=113473
