Ad Tech companies provide advertisers with agile, data-driven CTV ad opportunities
A recent study by Criteo found that 55 per cent of marketers plan on increasing their investment into paid video in 2021
As more audiences flock to video on their desktops, phones, and on CTV (Connected Television), advertisers demand even greater transparency into the effectiveness of their video advertising. In response, ad platforms and data providers have accelerated the development of new creative and targeting solutions to provide advertisers with agile, data-driven CTV ad opportunities.
A significant increase in the number of CTV devices and apps, combined with more time spent at home, has fuelled unprecedented levels of CTV consumption in 2020. In fact, according to the Pitch Madison Advertising Report 2021 (PMAR 2021) in the digital space, Video, has not only been the largest contributor but has further increased its share from 30% to 32% during the year.
The changing advertising game
“There are two key things to the current digital market in India. One, the massive scale that it provides with data and mobile handset proliferation. Secondly the capability of hyper-personalization with the help of technology,” says Taranjeet Singh, Managing Director, Southeast Asia and India, Criteo, the global technology company powering the world’s marketers with trusted and impactful advertising. “Moreover India’s online video market will touch $4 billion by 2025, with advertising accounting for $2.5 billion. The advertising-based video-on-demand (AVOD) business model offered by OTT players is on the rise to acquire new users and revenue.
A recent study by Criteo, which surveyed 1,000 senior marketing executives globally, including 105 from India, also found that 55 per cent of marketers plan on increasing their investment into paid video in 2021.
The reasons driving its growth is video’s ability to provide more relevant targeting, greater personalisation (view an ad to completion), granular measurement and performance tracking means ads performs better than traditional TV average across key indicators. There is great opportunity for pure ad technology players to drive value in reaching out to the right audiences for advertisers and bridging the gap. It’s just not about a product anymore. It's about a partner who can build an end-to-end solution for a marketer from driving awareness to driving conversion,” he further adds.
What Criteo is doing
As the world’s leading commerce media platform, Criteo helps marketers and publishers activate their first-party data. The company builds measurability in the form of video viewership rates, and the metrics of reach and frequency and builds right audience cohorts - then help marketers target consumers from an awareness point of view, to drive conversion for the products, catering to the full funnel for the marketers.
With specific products by ad tech players, marketers and media planners will be armed with data that provides insight into the incremental reach and performance across TV and digital. For example, Criteo has one of the largest shopper graphs and behavioural based intent data, with a sample base of 20,000+ retailers globally, which they can leverage during a campaign to target a specific audience. “Unlike some of our competitors, we do not charge for the use of these audiences, so you get access to the best quality of data at no extra cost to your campaign. We are also one of the largest media buyers and can leverage our strong relationships with both SSPs and direct publishers to package inventory by vertical and gain better placement opportunities,” Singh further explains.
Going forward linear campaigns are likely to become more strategic, and digital campaigns will become more refined, improving multi-channel efficiency. Also, considering the current scenario, a digital ad does not remain a mobile small screen ad as proliferation of CTV is growing at the fastest rate. And this is a discerning audience that is committed to watching that particular program that every marketer would like to talk to. “Our shopper graph data is unique and a fundamental base for advertisers to start building their reach and frequency. We are also building capabilities and measurement across CTVs, OTTs and other video formats, which will help define a very targeted approach for spending budgets on reaching out to audiences,” says Singh. Using full-funnel reporting, Criteo can show its partners the impact of CTV/OTT on the path to purchase.
Criteo is planning to launch a video advertising solution to reach out to audiences across OTT platforms and connected TV devices along with certain amount of measurement this year. “This new solution is a combination of audience set to effectively build reach and frequency with clear measurable metrics for a video advertiser,” he adds.
To find out more about OTT and Criteo click here.
This is a partner content article in association with exchange4media.
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