Right now it is understandable that COVID-19 coverage is dominating the airwaves (and likely your own communications, too). But when that subsides, we will still find ourselves in the midst of an attention-grabbing election year. Huge coffers of political ad dollars will be dispatched to command as much share of voice in your market as possible between now and November. The question is: How can you break through the noise so your own TV advertising dollars are well spent in the face of so much competition for consumer attention?
The answer: Advanced TV. And here’s why:
Experts predict a 57% growth in political ad spending this year, with a total ad buy of $6 billion. That’s a jaw-dropping amount, yes, but consider this: The majority of those dollars ($4.4 billion) will go to broadcast TV, cable TV and radio buys, while the remaining $1.6 billion will go toward digital videos, primarily distributed via Facebook and Google.
See the opportunity there? Advanced TV is not a notable part of the political advertising media mix – but it can be in yours.How can you break through the noise so your own TV advertising dollars are well spent in the face of so much competition for consumer attention? The answer: Advanced TV. Here’s why: Click To Tweet
Television has evolved far beyond the living room, and your under-50 audience segments are spending more and more time on non-traditional TV outlets. According to eMarketer, the number of U.S. “Pay TV” (cable, satellite, also known as linear TV) households in America is steadily declining, while “Non-Pay TV” (internet streaming, also known as advanced TV) is growing at the same rate. Consumers want the anywhere, anytime convenience that advanced TV provides, so meeting them on those platforms helps capture the share of voice you need, even as political ads amp up elsewhere.
The appeal of advanced TV advertising doesn’t end there. Consider these benefits, compiled through collaboration with our digital media partners at Goodway Group:
Advanced TV empowers you to meet consumers where they live, work and play. Studies show that Millennials, Gen Z and Gen X consumers already spend close to 1.5 hours/day watching advanced TV (with Boomers coming close behind at just under an hour per day). Growth in streaming platforms means advanced TV viewership continues to rise, creating crucial new audience segments that your linear TV media buy will have trouble engaging, particularly in a national election year:
- “Cord-cutters” – those canceling their cable and satellite subscriptions
- “Cord-nevers” – those who never had cable or satellite subscriptions in the first place
- “Cord-togglers” – those who view a mix of linear and advanced TV platforms
Cord-cutters are expected to be upwards of 55 million people by 2022, with another 40+ million cord-nevers and counting. Bottom line: Pay TV consumption is expected to drop from 68% in 2019 to 57% by 2023, and streaming media consumption is overtaking traditional TV channels in top markets across the country.
Going digital enables much more precise, data-driven targeting. Better targeting makes your advertising dollars stretch further. Meaning, you can eliminate wasted ad impressions by making sure your ads reach only prospective customers, avoiding those whose behaviors, interests and demographics indicate high unlikelihood to buy. Advanced TV’s robust data (which can be leveraged alongside your own first-party/CRM data and other third-party data sources) enables you to make reliable, data-driven decisions about when, where and to whom your ad should air. As a result, you’ll reduce wasted impressions that come standard with linear television buys. But speaking of wasted impressions via linear TV…
Sophisticated advanced TV reporting will illuminate smarter strategies for linear TV buys. Your advanced TV media buy will capture, analyze and report on audience behaviors and engagement levels as your ads play – such as what times your primary targets are engaging most with your ads, what types of shows they’re watching, and how many times they need to see your ad before taking action. Integrating advanced TV into your media mix will unlock new insights that can drive other parts of your media plan as well, including linear TV.
Advanced TV audiences are often more engaged – which is visible in real time. Rather than just playing it as “background noise” (as is common with stationary living room TVs), consumers who stream TV tend to be more actively tuned into the content they’re consuming, giving you a better window into how, where and when to best resonate with them. The ability to see results in real time allows for rapid adjustments in campaign parameters for improved effectiveness, greater ROI and a healthy share of voice.
For all those reasons and more, smart 2020 marketers will go to advanced TV, where they will find many customers but few political advertisers. As we continue transitioning to an ever more online environment, secure your share of voice in a very crowded media market – deploy smart media strategies so your messages meet the right people at the right place and time.
About the Author
Julie Amor, MHA, President and Chief Strategy Officer for Dobies Health Marketing, has 30 years of experience elevating healthcare brands. Share your thoughts with her by tweeting @DobiesGroup, connecting with us on LinkedIn, or by commenting on our Facebook page.