More and more clients have started asking us if could also help them with the TV buy based on our TV Analytics’ tool recommendations. In marketing speak: Automate the buy with our unique engagement data set. Makes sense, after all what good is an analytics tool if you don’t act upon the results? Anyway, I’ve written a couple of pieces on Programmatic TV that might be interesting: An overview of the market, my initial and more elaborate thoughts on how Programmatic TV changes the TV ad currency, why I think wywy’s engagement metrics approach is the right strategy, and my (maybe a bit) controversial post on why I think the digital first players will drive the change.
Coming from the online marketing world I am used to people measuring “jedes i-Tüpfelchen” (I love this German word, the rough translation would probably be measuring the dot on every i). You constantly come up with different variants and test, which works best, down to the conversion level. In the TV world, everything is a bit different… actually, a lot different. Traditionally, you would optimize your TV spendings based on reaching your target audience with a given budget (check out gross rating point on Wikipedia). Obviously, there was also direct response TV (“buy this steak knife set and and you’ll get these amazing gazillion things for free on top”), using call logs to measure performance.
Enter the iPhone. Smartphones are now part of our lives, in fact I bet when you read this, your phone is less than 1 meter away from you. So many people are using their phone in parallel to watching TV, resulting in more and more people actually visiting the advertised URLs immediately after the airing. Now that’s quite cool because you can measure this effect. And suddenly a whole new world opens up where you can understand which creative, which time of day, which weekday or which TV network works best in engaging TV viewers with your website.
TV Analytics is about identifying those best performing ad slots and then optimizing your TV campaign budget. And we are not talking about maybe getting 10-20% more out of your campaign, we are talking about multiple hundred percent. Here’s the result of a client we recently worked with:
There is obviously more to consider than just looking at the impact of your website but adding engagement to your TV campaign success metrics won’t hurt.
I am amazed at how siloed TV advertising and online advertising still are. We’ve been educating the market on how to connect these two worlds for quite some time now but it’s harded than I thought. Advertisers are spending millions on their TV campaigns, show a URL at the end of the commercial to prompt the viewer to visit the website. What would you expect on the website? The product you saw on TV? Well, in 50% of the cases you will not see the product on the homepage AT ALL (yes, no mention whatsoever). Wow. Here are some stats:
I recently stayed up all night to do a quick study on the superbowl ads, as they are probably the most expensive ad slots in the world. The results were a little bit better, with “only” 18% not showing the product AT ALL on their homepage. Well, apparently spending a couple of million on one spot makes it easier to tell a seamless story. We are getting there. Now back to work.