Continuous innovation in media is providing brands with a seemingly endless stream of ways to connect with consumers, but knowing where to focus budget and for what purpose is becoming increasingly complex. A lot of hard work and toil is invested to create over-the-top advertising solutions to hit the psyche of the viewer but is it really generating the desired results? Sadly the answer is ‘No’!
The advertising world is undergoing a shift as marketers get to grips with digital media. According to research by eMarketer, in 2015 Britain became the first country in the world where spending on digital ads exceeded the spent on all other forms of advertising put together. The always-on, fast-paced nature of the internet and fueling mobile growth in India has forced marketers to up their game. Success or failure comes down to content and effectively honing it to meet consumers’ needs in every channel, which anchors many of the media trends and predictions that advertisers and marketers need to be aware of in 2017.
At the same time, business houses around the world are expected to spend close to $202.51 billion dollars by the end of 2016 on TV ads to shape up and take off their promotional agendas. TV still continues to be one of the most robust medium out there. The current rapid state of the internet world, the advent of low data cost and low priced smartphones has initiated a fresh perspective amongst advertisers to measure the return on TV spends. It is a challenge for advertisers today to know the impact and conversions when advertising on TV.
TV viewers are no longer passive spectators. They’re browsing online, tweeting, liking posts on social media, messaging and shopping online in front of the TV. There is an intricate link between the social, digital and the TV world. Hence it becomes extremely crucial to trace and study this link with complete thoroughness so as to target audience that would help advertisers generate better visibility and business outputs. This makes it harder for brands to target the correct audience at the right time.
Creating specific steps in optimization such as time band scheduling, creative rotations, weekdays and weekends mapping is helping many digital marketers to improve their conversion rates while advertising on TV. Different statistical models and attribution window lengths are helping marketers to draw correlation between events simultaneously taking place on two screens. Marketers can now easily pin-point relevant attributes which can assist them to implement necessary optimizations for increasing their KPIs. Important KPIs for brands and digital marketers range from user searches, app installs, website visits, time spent, as well as last mile sales and conversions on the product. These KPIs differ basis a brand’s life cycle, industry as well as offering being communicated to users
Web tracking is today very well controlled between various players providing analytics and digital attribution solutions. Industry players like Google, AppsFlyer, Tune, Omniture etc. have taken a lead and played active role as pioneers by offering robust solutions to marketers to help them plan and buy their digital media effectively. TV on the other side faces challenge of two dimensions, namely, absence of real time TV tracking and live mapping of TV and digital events for marketers. In the current scenario, users’ privacy has to be the top most priority for any mobile and cross screen technology company. However, it also creates limitation in gathering data at scale. The limitation is towards getting the devices in scale by embedding codes that can help in identifying users.
Technological innovations in the field of tracking and analysis are bringing the power of real time TV ad-detection tracking for brands. New age solutions are empowering marketers to measure their advertisements’ impact as well as create digital burst on digital platforms optimizing investments to meet their KPIs far more effectively.
The need of the hour is to steadily progress towards bridging gap between TV and digital screens and create custom strategies for marketing across desktop, laptop, mobile as well as TV screen for brands and take advantage of multi-screen marketing.
The following article first appeared in Techseen