Traditional television viewing has drastically shifted to connected TV (CTV) streaming platforms. To stay ahead, advertisers must adapt their strategies and use a data-driven approach to effectively reach their target audiences. Accurate CTV measurement is critical in this new advertising paradigm.
Connected TV (CTV), a rapidly growing media channel, offers a means to connect with ‘cord-cutters’ and ‘cord-nevers’ – audiences no longer accessible through traditional or linear TV advertising. By leveraging pre and midroll placements, CTV combines the upper-funnel benefits of traditional TV advertising with the programmatic advantages of highly targeted placements and granular attribution capabilities.
Experts foresee the growth of CTV technology to persist as streaming continues to dominate the media industry. But how can you assess its performance for your business? Read on to gain insights into CTV measurement, key performance indicators (KPIs) for success, and additional information to ensure the optimal utilization of your ad spend and overall campaign success.
Understanding CTV Measurement
Like all digital media strategies, effective measurement is vital for CTV ad campaigns. Viewership data serves as the foundation for innovative CTV advertising methods. Leveraging key technologies, advertisers can determine which households have been exposed to specific content and ads, gaining insights into what, where, how, and for how long.
Measurement empowers advertisers with valuable data and insights, enabling them to allocate their budget efficiently and achieve superior results. There are several effective KPIs and unique measurement solutions to consider based on the objectives of your campaign.
Common CTV KPIs
Below are common KPIs for assessing the effectiveness of your CTV ad campaigns. Remember, KPIs should be tailored to align with your business’s goals.
Impressions: The total number of times your ad has been viewed, disregarding unique viewers.
Completion Rate & CPCV: Completion rate measures the percentage of viewers who watched your ad in its entirety, while cost per completed view (CPCV) represents the average price paid by advertisers for each completed view of a video ad.
Reach & Frequency: Reach indicates the number of individuals (or households) who have seen your ad, while frequency measures the number of times those individuals (or households) were exposed to your ad during a campaign.
Conversions: This KPI measures your customers’ actions (purchases, subscriptions, scheduled appointments, applications, etc.) in response to your advertisement.
Brand Lift: This KPI assesses the effectiveness and influence CTV ads have on consumer behavior and attitudes toward a brand. It examines the impact of an advertising campaign on key brand metrics like brand awareness, perception, and recall.
Unique CTV Measurement Solutions
The following measurement methods offer unique data findings that can fuel the success of your CTV campaign:
Cross-Device Attribution: This approach enables you to measure your audience’s actions across all their devices, including smartphones and laptops, providing a comprehensive view of performance after CTV ad exposure.
QR Code Add-On: Incorporating a unique QR code within your CTV ad can enhance viewer engagement and drive website traffic.
Peer39 Reporting: Peer39 provides tools and solutions to analyze and understand the context of CTV content. It offers insights into the performance of CTV campaigns by analyzing contextual factors, including content category, channel, and show. Advertisers can leverage this information to optimize their targeting strategies, refine their messaging, and enhance overall campaign effectiveness.
Challenges in CTV Measurement
Despite the pivotal role measurement plays in driving the direction and success of CTV campaigns, several challenges persist with measurement. Advertisers across the CTV landscape encounter complexities when accurately tracking and measuring viewer behavior.
Some prominent challenges include fragmentation arising from the multitude of platforms, devices, and streaming services available; a need for standardized measurement practices and metrics; verification of ad viewability and reaching the intended audience; and detecting and preventing fraudulent activities, among others.
Considering the numerous challenges present in the CTV advertising space, it is crucial to tailor your measurement approach based on the goals of your campaign and the desired actions of your audience.
Why Choose Division-D for CTV Advertising
CTV measurement is instrumental in assessing the success of ad campaigns in the streaming era. By leveraging effective measurement practices, understanding key performance indicators, and exploring unique measurement solutions, advertisers can optimize their CTV campaigns and drive meaningful results.
It is crucial, however, to navigate the challenges present in CTV measurement and adapt strategies accordingly. With the right approach and the guidance of experts, CTV advertising serves as a powerful tool to connect with audiences in the ever-evolving media landscape.
With an estimated 86.9% of US households expected to watch CTV by 2025, CTV stands as a leading media channel for effectively spreading brand awareness, boosting sales, and growing your business.
At Division-D, we recognize the ongoing shift in consumer viewing habits from traditional TV to streaming platforms. As a result, we understand the significance of CTV as an essential component of a well-rounded media plan. Our team of knowledgeable experts can guide you on inventory, targeting, and measurement strategies to elevate your CTV media efforts.
Connect with Division-D today to reach your intended audiences on the big screen!