Majority of Advertisers Spend More than Half of Their Time Optimizing Converged TV Ad Performance & Still Fall Short
New Innovid Study Reveals Disconnect Between Measurement & Optimization Across Converged TV, Resulting in Business Impact
NEW YORK, Sept. 27, 2023 – Although the majority of marketers (56%) spend more than half of their time optimizing converged TV ad performance, only 40% believe their ad optimization practices are “very good.” This means, despite the time investment, the majority (60%) believe their optimization efforts fall short. That’s according to the findings of a new study released today by Innovid (NYSE: CTV), an independent advertising platform for the delivery, personalization, and measurement of converged TV across linear, connected TV (CTV), and digital, to spotlight how advertisers are investing significant time and money into converged TV.
The study, “The Converged TV Disconnect: Advertisers on Bridging the Gap Between TV Measurement Insights & Results,” surveyed more than 250 brand and agency professionals, also found that when it comes to measurement, nearly 90% of respondents say that a unified view of converged TV across linear, CTV, and digital is important, with 91% saying that standard KPIs across converged TV advertising are important at some level. However, almost two-thirds (62%) use separate measurement partners and advertising management and delivery platforms, incurring data loss and increased integration needs.
“According to eMarketer, spending on CTV ads has skyrocketed by about 400% since 2019 – and with more ad dollars spent on converged TV as a whole, brands and agencies feel increased pressure to prove the efficiency and effectiveness of their investments,” said Dave Helmreich, Chief Commercial Officer at Innovid. “A unified view of performance across the converged TV landscape is critical but with measurement done separately from campaign management and optimization, there is a disconnect for advertisers to be able to effectively drive ROI. Converged TV optimization needs to be made seamless for advertisers through real-time measurement that is immediately actionable and can deliver results. InnovidXP provides marketers with a unified view, actionable insights, and the ability to automatically optimize campaigns to drive business results – bridging the gap with a single, fully integrated platform.”
Innovid’s “Converged TV Disconnect” study also revealed that:
- Optimization Frequency Isn’t Keeping Pace with Measurement: More than two-thirds (68%) of respondents stated they are measuring campaigns on, at least, a weekly basis, with almost four in 10 (39%) measuring ad performance either daily or in real time. But advertisers aren’t optimizing ad campaigns as often as they measure campaign performance: Just 57% say they’re implementing media optimization for converged TV campaigns on a weekly or more frequent basis. That’s more than 10 percentage points below how often they measure.
- Engagement, Outcome, Reach: When respondents were asked to rank which metrics they were most interested in optimizing by, Engagement by Platform/Publisher ranked highest, followed by Engagement by Creative, Outcome by Creative, Reach by Platform/Publisher, and Outcomes by Platform/Publisher.
Click here to download “The Converged TV Disconnect: Advertisers on Bridging the Gap Between TV Measurement Insights & Results.”
Innovid (NYSE: CTV) powers advertising delivery, personalization, and measurement across linear, connected TV (CTV), and digital for the world’s largest brands. Through a global infrastructure that enables cross-platform ad serving, data-driven creative, and measurement, Innovid offers its clients always-on intelligence to optimize advertising investment across channels, platforms, screens, and devices. Innovid is an independent platform that leads the market in converged TV innovation, through proprietary technology and exclusive partnerships designed to reimagine TV advertising. Headquartered in New York City, Innovid serves a global client base through offices across the Americas, Europe, and Asia Pacific. To learn more, visit https://www.innovid.com/ or follow us on LinkedIn or Twitter.