Connected TV 5 Min Read
Connected TV as a Full-Funnel Advertising Solution
How advertisers can bring shoppers through the full sales journey with one channel
We are only one week away from our next webinar of the year, this time hosted by our friends at MediaPost. Get ready to learn more about Connected TV and why it’s set to make a big difference in the way brands advertise this year.
If you want a bit of a spoiler, then have a read of our recent blog post here. If that wasn’t quite enough, and you have more questions than answers, then this should hold you over until next week. Gather up your questions in the meantime, as we’ll be dedicating some time to Q&A at the end of the webinar. See you then, and in the meantime, read on!
What are the building blocks of an effective Connected TV strategy?
Advertising on CTV isn’t dissimilar to other digital advertising channels like social media and display. By combining together prospecting and retargeting efforts, you can reach new audiences and maximize your conversions across the entire funnel:
- Upper Funnel: SteelHouse Performance TV prospecting expands your audience pool by driving new, highly-qualified site traffic that is likely to convert.
- Mid Funnel: SteelHouse Audience Extension supports the consideration stage with an omni-channel advertising approach, through delivering relevant display ads on other devices such as mobile, desktop and tablet, to reinforce a strong and consistent brand message.
- Bottom Funnel: SteelHouse Performance TV retargeting drives conversions and prompts a call-to-action by leveraging your own customer data, or traffic driven by your prospecting campaign. You can now launch a retargeting campaign on your TV-screen, which breaks the barriers of what was thought possible.
This answers the ‘What’, what about the ‘How’? Don’t skip a step just yet – before approaching any Connected TV advertising campaign, whether that be evergreen or for a holiday/event, map out your game plan first. We have compiled a few pointers below.
What should you consider when launching a Connected TV campaign?
We always suggest to our clients to start your campaign with prospecting, and then follow up with retargeting to bring your customers back to convert. Then, factor in the right timing, budget, audience and creative to round up your campaign before you go live:
Remember, it takes on average six to eight touchpoints to generate a conversion or lead. This means building in enough buffer time to ‘ramp up’ your activities is important for a successful campaign. A rule of thumb is to start any prospecting campaign 60 days prior to a sale or holiday. For example, we know Mother’s Day is a huge shopping event for many brands, and while it’s still a couple of months away, you should already start planning creative and campaign strategy in February to allow enough time for prospecting and retargeting.
Retargeting can be ‘always on’ – think of it as an evergreen campaign which you run throughout the year to keep your audience pool engaged and connected with your brand and product. If you are doing a retargeting push for a special event or holiday, then increase that spend 2-3 weeks out or add another retargeting campaign to bring in the increased site traffic from your prospecting campaigns.
How long is a piece of string? We understand budgets vary greatly depending on seasonality and industry, so we can’t give an absolute range of what amount of spend will equate to the biggest returns. However, what we do suggest is applying budget forecasting to their campaigns to avoid that dreaded law of diminishing returns effect. This means analyzing your historical data, taking into account your monthly spend, conversions, revenue and data points and plotting these on a trendline to identify the sweet spot between budget and performance.
SteelHouse partners with leading data provider, Oracle Data Cloud, with access to over 30,000+ third-party audience segments. Advertisers can find thousands of in-market and past purchase audiences for precision targeting.
Let’s take Back to School, one of the biggest shopping events of the year, as an example. Your first instinct would be to target families with children in preschool to high school, but what about college students, or even mature-age students who are juggling studies with a full-time workload? Uncover segments that include people experiencing similar life events or circumstances, and mix these in with the more ‘obvious’ targeting segments to give you an edge over the competition. Not to mention, you can unlock more audiences than you could have ever thought of, through our Oracle integration.
Pro Tip: Once you’ve found your audience pool, leverage your own first-party CRM data to create lookalike audiences to match your ideal customer.