Boost Your Holiday Sales with CTV

By: Osania Del Rio, VP Digital Media, Cannella Media

It is well known that consumer shopping behavior and media consumption fluctuate seasonally. The most successful advertisers harness accurate insights to anticipate these changes and adjust their media buying strategies appropriately.

 

With the ability to gather valuable and actionable consumer data, connected TV (CTV) has revolutionized how you can capitalize on channel seasonality. You can use behavioral data from CTV to determine which consumers might be in the market for a particular product. This data also allows a competitive advantage by leveraging inventory availability that may be in greater supply on linear TV during the peak holiday retail seasons.

 

The Rise of CTV’s

CTV usage has grown in conjunction with the popularity of streaming services. According to eMarketer, 40% of US senior citizens and more than 80% of 25-54 year-olds are CTV users. So far, in 2022, 195 million people have viewed content through a connected TV at least once per month.

 

Moreover, consumers are spending more time on CTV devices, which has remained unchanged throughout the pandemic. Nielsen reports that people collectively spend more than 3 billion hours weekly on CTV devices.

 

As brands continue to restore their media budgets post-pandemic, the marketplace is beginning to observe even higher demand for CTV advertising. To adapt to the increasing adoption of CTV, advertisers are realigning their budgets to put a more significant focus on this format. eMarketerreports show that ad spend on CTV saw a 20% increase year-over-year in 2021, despite the overall decline in ad spend during the pandemic.

 

Tapping into Major Holiday Shopping Seasons

The National Retail Federation reported a 14.1% annual increase in sales in 2021. With this, holiday spending (online and in-stores) topped $886.7 billion in 2021, blowing NRF’s forecast out of the water. And this is all despite ongoing supply chain issues and labor shortages across the county.

 

Deloitte predicts that the number will be much higher in 2022, with holiday retail sales expected to reach $1.28 – $1.3 trillion.

 

You can use CTV data from consumer streaming and browsing behavior to capitalize on these holiday shopping trends. The data helps you make informed decisions to launch powerful seasonal campaigns, from ad placement and targeting to ad creatives. For example, retargeting campaigns during Pre-Cyber Week could keep the brand top of mind when people start shopping for the holidays.

Why Leverage CTV? 

CTV’s data and insights are invaluable for an impactful holiday advertising strategy. CTV has many benefits that complement a traditional TV campaign. Following are some of the methods that can help you utilize the power of CTV this holiday season.

 

Instant Conversion

 

One compelling benefit of CTV is its ability to lead to instant conversions. Roku found that after seeing a product in an OTT (OVER THE TOP) ad, 43% of respondents have paused their streaming to look up the product and shop for it. Direct response ads with compelling visuals and compelling calls-to-action can drive consumers to impulse as they become eager to start their holiday shopping.

 

Precise Targeting

 

While linear TV shows your ads to everyone watching a particular program, CTV allows you to segment the audience and only serve ads to a more selective group based on your targeting. CTV can deliver different types of ads targeting consumers based on interests, browsing behavior, time of day, device type, and primary language.

 

The benefit is two-fold; it allows you the ability to maximize your ad dollars while also improving your ad efficiency.

 

CTV ads even allow you to refine your targeting and realign your focus on those most likely to convert. For instance, you can launch retargeting campaigns to reach people who have visited your website before. CTV also enables you to increase ad frequency and sequence multiple messages to reach higher-value prospects.

 

Expanding Reach

 

CTV ads come with lookalike modeling capabilities, which allow you to find people who share the same characteristics and traits as your target audience or best customers. This enables you to ramp up your holiday advertising efforts by broadening your reach to audiences not being exposed to existing efforts.

 

Re-Engaging Existing Customers

 

You can also use CTV ads to target and re-engage your existing customers for the holiday shopping season. It allows you to up-sell or cross-sell relevant products to people who have shopped on your site before. It can also deliver retention messages highly relevant to their past purchase behavior.

Ramp up Holiday Sales with CTV

The holiday months continue to be peak shopping season even in a post-pandemic world. CTV ads are the cornerstone of holiday advertising as they offer more precise targeting and the ability to expand reach. You can use streaming and browsing behavior from CTV devices to build compelling and relevant holiday campaigns. With the ability to collect accurate consumer insights, make sure you leverage CTV ads to capitalize on seasonal shopping behavior.