Although the market share of CTV in Europe does not yet reach the level of the United States, Europe is becoming the fastest growing market for the format today. Various studies show that more than 80% of households with a connected TV prefer CTV to traditional linear TV. Following this trend, the IAB estimates that worldwide advertising expenditure on CTV will grow by 12% in 2024. To make the most of this growth, marketers will need to incorporate CTV into their omnichannel strategy.
CTV is becoming an integral part of the market
After years of being considered merely a "trend," CTV has become a solid part of our living rooms thanks to changes in viewer behavior and technological advances. While in the beginning the biggest growth was seen in younger audiences, today there is growth across all ages and demographics. Some countries are progressing faster than others, but one common trend is evident in all markets - the growing popularity of CTV and the associated increased opportunities for advertisers.
People are now watching less TV at traditional times and choosing what and when they want to watch. In a European survey, even 86% of respondents said they prefer CTV to linear TV. More than half of these viewers are Generation Z and millennials. Of the younger, harder-to-reach audience that watches CTV, even 91% pay attention to advertisements that appear with online videos.
CTV versus traditional TV
One of the biggest advantages of CTV is the ability to reach a wide audience with the accuracy that digital advertising offers. Brands can better target specific demographics, interests and user behaviors, ensuring that ads are more relevant and effective. This kind of targeting is much harder to achieve with traditional TV advertising.
Another major advantage of CTV is the ability to display interactive ads. These can be simple, such as calls to action, but can also include more complex interactive elements that encourage viewers to take a greater interest in the product or service being offered. This kind of engagement goes beyond simply passively watching an ad and builds a stronger connection with the consumer.
CTV also offers quality measurability. Advertisers can collect detailed data on how their ads are performing - including view counts, engagement rates and conversions. This data is key to continuously optimizing campaigns and increasing return on investment (ROI). By combining insights from CTV campaigns with data from other channels, brands can get a much clearer picture of the performance of their marketing activities and make more strategic decisions.
CTV also works for active audience engagement
With so many benefits, it might seem like it's time to abandon traditional TV, but it's certainly not necessary. TV has always been an extremely powerful tool for storytelling and reaching audiences in a comfortable "lean-back" environment. Today, however, we see that features like the wide range of content on CTV make the platform even more engaging than traditional television.
CTV, placed at the center of home life, offers an opportunity to enhance the user experience - through QR codes, voice commands and other features, for example - in conjunction with viewer behaviors such as second screen use. This makes it not only a tool for brand building, but also for active user engagement.
So why choose when you can take advantage of both? CTV shouldn't operate in isolation, but should be part of a broader omnichannel strategy. By combining CTV with other digital channels such as social media, banner advertising and mobile marketing, brands can deliver a consistent message and reach consumers in more places. This not only strengthens brand awareness, but also increases the likelihood of conversion.
CTV in the media mix
Incorporating CTV into omnichannel strategies is still in its early stages, but its potential is huge. As technology continues to evolve and consumers increasingly switch to streaming services, CTV's role will become more important. Brands that invest in CTV and integrate it early and effectively into their broader marketing strategies will gain a distinct advantage in this increasingly competitive environment.
The key to success is a combination of the following factors
At Teads, we believe the key to success lies in a combination of several factors - reach, targeting, interactivity, measurability and convenience. When brands combine CTV with other digital channels such as the aforementioned social media, banner advertising and mobile marketing, they can deliver a unified message and reach consumers at different touch points. This not only strengthens brand awareness but also increases the chances of conversion.
To make it as easy as possible for advertisers to take advantage of these opportunities, Teads has made its solution Connected TV (CTV) available in Slovakia, the Czech Republic and other CEE countries via the Teads Ad Manager (TAM) platform since this summer. For the first time, advertisers in the Czech Republic and Slovakia have the ability to reach up to 2 billion unique users per month worldwide - on TV, mobile, tablet and desktop - all from one platform.
Dominika Rokosz-Kozica, Senior Marketing Manager, Teads
Source: mediaguru.cz
