Digital Remedy CEO & Founder, Mike Seiman, recently spoke with 60 Second Marketer on the attribution trends to watch out for in the OTT and CTV ad space. As we all know, OTT streaming video consumption has skyrocketed since the pandemic hit. With COVID-related lockdowns keeping folks at home, streaming content accounted for 25% of total TV viewing time, up from just 19% in “the before times” of Q4 2019. Not only did the total amount of streaming time increase, but cumulative time spent watching streaming video in Q2 2020 surged to 142.5 billion minutes a week—a 75% jump from the same time the previous year.
With such a major shift in audience behavior, it’s no wonder that 60% of advertisers are planning to shift their ad spend from traditional linear TV to OTT or CTV. And it’s not only the growing share of audience that makes OTT so attractive to brands. Over 80% of marketers say that better ad targeting and greater attribution are key reasons for the shift, with OTT allowing them to more easily reach more precise audiences and measure return on ad spend.
Here are some of the key takeaways marketers should look for in their OTT attribution reporting in order to gain better insights and greater ROI:
- Traffic accountability. While OTT allows for greater targeting capabilities than traditional TV, there is still ample room for improvement when it comes to verifying that the inventory being purchased is actually being watched by a legitimate audience.
- Content viewability. Advertisers need more granular analytics in order to better understand viewability metrics, and how a viewed ad plays a role in the overall sales funnel by tracking post-view behaviors.
- Industry acquisition. Media publishers have been acquiring their own Demand Side Platforms (DSPs) to simplify the ad buying process and cut out the middleman. This really just makes it harder for advertisers to insert their content, and while it may create a seemingly easy transaction when it comes to selling available inventory, we need independent networks to keep the medium more accessible.
- Transparency. As OTT grows in size and scope, inventory has become a commodity with providers lowballing prices just to get brands on board. With an attitude that cheaper is better, brands are naturally drawn to the low-price options. The problem is that also means there are no experts working on their behalf to monitor invalid traffic.
As the possibilities behind OTT targeting and measurement continue to take off, brands need the right tools and experts on their side to tap into the insights and strategies that can help them make the most of the outlet. Working with a partner that can help navigate the space delivers a much better OTT/CTV experience and increased ROI.