By Brett Gillett, Global Strategic Business Development Director, TVSquared
Ad spend across Asia is on an upward trajectory, set to grow by 6.2% in 2019, with elections in key markets this year – including India, Indonesia, Philippines and Thailand – providing an additional boost to the advertising industry. The rise in use of smart devices means digital ad spend is also gaining a foothold, but this doesn’t spell the end for “traditional channels” like TV.
In Australia, Hong Kong, India, Japan and Korea, broadcasters have announced their own branded ad-based video-on-demand (AVOD) platforms to access the growing online video market. This space is fast becoming the “hot” platform to advertise on, with ad spend predicted to double over the next five years. However, “traditional” and digital channels should not be considered as mutually exclusive, as they can achieve greater performance when implemented together. By capitalising on the interconnected nature of these platforms, and the quality of consumer insights available as a result of this, advertisers can utilise their TV ad spend to drive online business outcomes.
From Big Ads to Big Data
Keen to squeeze value from their budgets, marketers might be tempted to favour digital channels over linear TV advertising, mistakenly believing TV will only provide out-dated marketing options. While TV is known for “big ads” – original long-form creatives that extend brand reach – brands and agencies must take stock of big data advancements to optimise their media campaigns to achieve further business goals. These developments have transformed TV’s performance with metrics that can align with digital.
TV is a $58.19 billion industry in the APAC region and the rise of analytical technologies has made TV measureable and optimisable – both key advantages of utilising digital channels. A new level of targeting has enabled this “traditional” platform to become a primary driver of digital response, maintaining its unparalleled reputation for longer-term brand building and its ability to generate significant offline response. No matter the goal – from establishing recall to increasing app downloads or online sales – TV is the gateway to a successful mixed-media strategy and digital shouldn’t be viewed as an alternative option, it’s complementary.
The Magic Pair: Data and Creativity
Now established as a performance-driven channel, TV’s data can be used in many ways. Optimising linear creative drives engagement across all media platforms and ultimately ensures the best possible return on investment (ROI). In-depth analysis of this data is crucial to ensure optimal performance against key performance indicators (KPIs). By analysing real-time spot and response data, advertisers get a clear view into what’s working with TV and what’s not. Informed by these insights, brands and agencies can leverage big data to make sure ads deliver the best content and run at the best times to deliver performance.
TV ad campaigns are more measurable than ever before, with many marketers already using same-day audience response data – such as search activity, web traffic, and app installs – to determine which regions, genres, channels, days, day parts and spots are most effective at driving engagement. Marketers are then using these insights to make in-flight changes to campaigns, ensuring the maximum return on their TV ad spend. Marketers can also utilise this granular audience response data to optimise TV spots and test multiple creative iterations. By identifying the elements that are most engaging and making real-time changes, advertisers can dynamically optimise their performance. At the end of the day, TV effectiveness is measured by the interactions and conversions it generates.
A Multiscreen Experience
Smartphones, tablets, and laptops have become allies for measuring TV-driven response thanks to the growth of second-screening. This is because website visits, mobile orders or middle-of-the-funnel actions – such as “show me details” or “request a quote” – can all be measured within minutes, hours or days of the TV ad airing. Combining TV spot performance data with audience response information provides valuable insights that can be used to inform more targeted future buys and ultimately boost overall campaign effectiveness.
In determining where to spend media budgets, the advertising industry needs to be focussed on consumer engagement rather than delivery. With the right technology, an advertiser can tie the TV spot to a call to action. For lower consideration products, such as an online sale or subscription, this can be immediate. On higher consideration purchases, where the resulting sale may take several weeks or months to convert, intent-based metrics can be used to tie the spot to the action. A car manufacturer, for instance, might use a call to action such as “find a dealer” or “book a test drive”, and with the development of new KPIs for performance-based metrics advertisers can justify TV’s inventory value by measuring effectiveness against these brand-specific outcomes.
The Winning Formula
There’s no doubt TV is currently enjoying an explosion of sophisticated targeting capabilities that dramatically boost its effectiveness. Combined with its trusted environment and engaging content, brands can implement a winning TV-led marketing formula that generates desired audience response. The power of this channel shouldn’t be underestimated. Big data has enabled advertisers to align their linear metrics with digital and brands must stay nimble by using all the tools available to them to ensure optimal ROI.