The Balancing Act: Awareness vs. Performance Marketing
Performance marketing has grown in popularity over the last decade, as marketing budgets have been slashed to maximize return on investment. While brand awareness is important, many marketers are focused on driving (and measuring) bottom-funnel actions, such as website visits, in-store visits, and purchases. Improvements in measurement for once-considered upper-funnel media are coming fast and furious. These improvements show that lower-funnel media can have branding impacts, and upper-funnel media can have performance impacts.
What is Performance TV?
In short, more measurable real-world results and more granular reporting for marketers. Performance TV allows marketers to deliver ads to target audiences, measure campaign performance, and attribute bottom-funnel results. Two main benefits of performance TV are the ability to:
- Deterministically or definitively, track conversions from your campaign
- Optimize those campaigns away from what doesn’t work toward what does—to drive better performance
Performance TV advertising is done through connected TV (CTV) devices that help to attribute and report on those campaigns. Performance CTV provides a unique opportunity for marketers to reach highly-engaged audiences.
The Rise of CTV
CTV offers the high-impact, brand storytelling power of traditional TV plus the targeting, analytics, and interactivity of digital to provide a compelling environment for audiences to engage with messaging alongside premium content.
“Linear TV and CTV are converging; however, similar to the shifting holiday season, which is promoting earlier shopping each year, that doesn’t mean it has made what to buy, where to buy, and whether or not you have the best deal clear for media buyers (and consumers), which is the case for advanced TV.”
–Matt Sotebeer, Chief Strategy Officer, Digital Remedy
For brands looking for new ways to maximize their marketing efforts, CTV is the perfect channel.
“We’re seeing brands start to gear up for Black Friday and Cyber Monday and look toward new channels to leverage. CTV is definitely top-of-mind for these advertisers as long as their investment can be backed up by performance. This makes attribution and optimization on this channel more important than ever.”
– Ben Brenner, VP of Business Development & Strategy, Digital Remedy
CTV’s ability to merge the often-separated performance and brand marketing worlds—including its inherently addressable nature—is redefining the digital ad space and giving marketers a way to take their campaign measurement to the next level.
How Digital Remedy Can Help
Finding the right performance CTV partner can make all the difference in optimizing your media strategy and maximizing ROAS in this fast-growing, highly-profitable market. While many ad tech vendors offer different solutions, not all of them have the full scope of resources to make the most of advertising on this medium. Digital Remedy offers first- and third-party data integrations, direct access to premium OTT publishers, real-time optimization, and granular, transparent bottom-funnel reporting through Flip, our performance OTT stack.
Digital Remedy provides comprehensive campaign performance reporting and data-driven capabilities to help advertisers and agencies connect with target audiences at the best time.With Flip, brands gain access to a sophisticated reporting dashboard to monitor their campaigns and real-time performance insights to optimize towards the KPIs that matter most. Flip provides a new standard in tracking, transparency, and results, including:
- Incrementality: Incrementality measures which desired actions, like purchases or site visits, occurred as a direct result of a brand’s campaign or variable within a campaign. With media budgets growing and advertisers experimenting with different channels and formats, understanding the true impact of your marketing efforts is crucial in making budgeting decisions and justifying scale.
- Multi-Methodology Attribution: Attribution—assigning credit for conversions to various marketing touchpoints along the customers’ journey—has become a must-have for growth and performance marketers. This information is critical to creating more effective ad campaigns and boosting revenue. In measuring conversions following ad exposure for CTV, it’s important to understand which exposure caused the conversion to take place.
With these valuable insights, marketers can make more effective optimizations and investment decisions—to effectively grow their business and drive measurable campaign performance by leveraging the biggest screen in the home to deliver brand messaging.
Download the full report for full insights, including myths surrounding CTV. Interested in learning more? Watch our Digital Dish episode or speak to a member of our team.