1 out of 3 Americans do not have cable. Do you know anyone who hasn’t heard of Netflix, Hulu, Amazon or even Peacock? The phrases “binge watch” and “cord cutting” have entered the lexicon and changed the way people are watching their favorite shows (73% of U.S. consumers prefer to binge-watch). These video platforms have shifted our behaviors, and large numbers of people are watching TV whenever they want — on their own schedule and on their own time. Research shows more than 80% of US households have at least one streaming subscription, and the ongoing pandemic has seen a slight increase in the number of American customers (Deloitte). It’s even estimated that the global streaming market will be worth $223.98 billion By 2028 (GVR).
So, why is now a good time to buy streaming ads? Because not only have we seen the market grow by leaps and bounds, emerging as a powerful advertising channel, but (and just as important) the cost to run ads has remained low, allowing businesses of any size to consider it as an affordable alternative to traditional TV advertising. In fact, a single ad can range anywhere from tens of dollars to thousands depending on which platform you use.
Streaming ads are being used for virtually everything, from local restaurants promoting “game time” delivery, to interactive “choose-your-own” car commercials. This level of engagement is where the power of advertising on these services comes into play. Even better, streaming tv has access to accurate and specific viewer data that you can use to target your potential clients more directly. Meaning your marketing campaigns have the potential to receive accurate targeting, and enhanced ad relevance — giving you exactly what you want, an increase in audience engagement.
By prioritizing and investing in marketing you can measure, you begin to set yourself up for success in the long run. Maximize your streaming ad dollars with these few tips:
• Understand the intent of TV advertising
• Match your ad audience to programs and channels
• Have a clear CTA
• Build consistency
• Retarget
Streaming TV has disrupted the advertising industry for good as video viewership now makes up 80% of all internet traffic. And as traditional TV continues to lose viewers, adults are making streaming apps and ad-supported services like Hulu, Sling, and Peacock, the new normal. Consumers are increasingly using their mobile devices to watch tv programs whenever they want. By adding this new opportunity to your media buy, you have an unprecedented opportunity to target new audiences in new ways — and to do so ahead of competitors who aren’t as ad-savvy.
Given how much time people are spending indoors, smart businesses are shifting their traditional TV budgets and strengthening their marketing strategies. Invest in some research, ask more questions, review your annual plans, and make your marketing more efficient and effective.
