Connected TV (CTV) has changed the advertising landscape and provides new opportunities for B2B marketers. Not only has it made it possible to target very specific audiences with laser precision, but it has also made it possible to reach them in a highly engaging and interactive way.
And since there are an estimated 500 million connected TV devices in households across America, the potential reach is significant.
But for many people, streaming TV advertising can be a new and confusing concept. So, in this blog post, we’re going to take a look at what it is and how you can get started with it in five simple steps.
Step #1: Define Your Target Audience
Since CTV advertising (also know as smart TV advertising) allows you to target very specific audiences, the first–and most important–step is to define who you want to reach. This will involve creating buyer personas and developing a deep understanding of your target audience’s needs, wants, and pain points.
When defining your target audience, it’s important to consider their relationship with your brand. Are they aware-stage prospects who are just learning about your company and what you do? Or are they existing customers who you want to upsell or cross-sell? Your answer to this question will dictate the type of content you create.
For example, if you’re targeting senior decision-makers, you’ll want to create content that demonstrates value to their business. This could be in the form of a case study or an ROI calculator.
On the other hand, if you’re targeting existing customers, you might create content highlighting new features or special offers.
No matter who your target audience is, it’s important to create content that is relevant and engaging. By doing so, you’ll be able to build strong relationships with your customers and keep them coming back for more.
Step #2: Choose the Right Platform
Essentially, streaming TV advertising allows brands to place ads on streaming platforms like Hulu and Amazon Prime Video. The streaming platform then serves the ad to viewers who are watching content on that platform.
The ads are typically short, lasting 15 seconds or less, and they can be targeted to specific demographics based on the streaming platform’s data. For example, a brand could target its ad to viewers who are watching a particular show or who have watched similar shows in the past.
There are a number of different CTV platforms available, each with its own unique set of features and capabilities.
One popular option is Roku, which offers ad inventory on a number of streaming platforms, including Hulu, ESPN, and CBS. Roku also offers detailed insights into viewers’ behavior, making it easy to track the performance of your ads.
Another popular option is Amazon Fire TV, which allows you to place ads on a variety of Amazon-owned platforms, including Prime Video and IMDB TV. Amazon Fire TV also offers robust targeting options, allowing you to reach your target audience with laser precision.
And if you’re looking for a more comprehensive solution, there are streaming TV advertising platforms that offer inventory on multiple streaming platforms.
Step #3: Decide on Your Budget
Before you start streaming TV advertising, it’s important to decide on your budget. This will ensure that you don’t overspend and that you’re able to measure the ROI of your campaigns.
When developing your budget, there are a few factors to consider, including:
- The cost of ad inventory: The cost of ad inventory on streaming TV platforms varies depending on the platform you’re using and the targeting options you select. For example, Hulu’s ad inventory starts at $20 CPM (cost per thousand impressions).
- The cost of creative production: The cost of producing your ad will depend on the length of the ad and the production value you’re looking for. Typically, shorter ads are less expensive to produce than longer ads.
- The frequency of your campaigns: The frequency of your campaigns will also play a role in determining your budget. If you plan on running multiple campaigns, you’ll need to factor in the cost of each campaign.
- Platform fees: Some streaming TV platforms charge fees in addition to the cost of ad inventory.
- The cost of measurement and analytics: It’s important to track the performance of your streaming TV campaigns. To do so, you’ll need to invest in measurement and analytics tools. These tools can range from free to expensive, depending on the features and capabilities you’re looking for. Some platforms have analytics features built in, or will integrate with Google Analytics.
Once you’ve considered all of these factors, you’ll be in a good position to develop a budget that meets your needs.
Step #4: Create Compelling Creative
Now that you’ve defined your target audience and chosen the right platform, it’s time to create your ad. The first step is to develop a creative brief that outlines the goals of your campaign and the key messages you want to communicate.
Your creative should be relevant to your target audience and aligned with the shows they’re watching. It should also be attention-grabbing and memorable. You’ll need to use strong visuals and catchy copy to do this.
Of course, the type of content you create for your B2B company depends on your products and services. But here are a few general tips to keep in mind:
- Tell a story: The best ads tell a story that resonates with viewers. When crafting your ad, think about the problem your target audience is facing and how your product or service can help solve it.
- Keep it simple: Don’t try to cram too much information into your ad. Stick to one key message and make it easy for viewers to understand.
- Highlight your value proposition: What makes your product or service unique? Be sure to highlight this in your ad so that viewers know what you’re offering and why they should care.
Step #5: Measure Your Results
Once your ad is live, it’s important to track its performance and measure your results. This will help you understand what’s working and what’s not so that you can adjust your campaigns accordingly.
There are a number of metrics you can track, including:
- Viewership: How many people are watching your ad? You can track this metric using data from the streaming TV platform you’re using.
- Engagement: How engaged are viewers with your ad? This can be measured by tracking the number of clicks, shares, and completed views your ad receives.
- Conversions: Are viewers taking the desired action after watching your ad? Be sure to track any conversions (e.g., sign-ups, sales, etc.) so that you can quantify the success of your campaign.
You should also track the cost of your campaign, including the cost of ad inventory, creative production, and platform fees. This will help you understand your return on investment (ROI) and make informed decisions about future campaigns.
Final Thoughts on Streaming TV Advertising for B2B Brands
If you’re looking for a new way to reach your target audience, streaming TV advertising is worth considering. By following the steps outlined in this post, you can create a successful campaign that drives results for your B2B company.