The threat of the coronavirus continues to wreak havoc across many industries. For digital advertisers, however, the COVID-19 presented a valuable opportunity that they should not miss. With many people staying at home and looking at ways to entertain themselves, TV and streaming viewership enjoyed an expected surge. Given this, advertisers are now banking on their over-the-top (OTT) and connected TV (CTV) advertising strategies to preserve their organization’s bottom line. With more advertisers using these ad strategies, the current market now has an oversupply of CTV advertisements, and those that employ programmatic in their CTVs are poised to gain much from the growing demand.
Navigating the CTV Ecosystem: What It Means for Publishers and Advertisers
Most publishers face the dilemma of safeguarding their revenues without the risk of being viewed as an organization taking advantage of the current economic uncertainty. For publishers, the challenge is to provide new opportunities that advertisers can leverage—at the same time, making sure that their audience would not get second-rate services.
Advertisers, on the other hand, need to work doubly hard. They need to make sure that they deliver the right message to the right audience at the most opportune time every day. How can they achieve this? Advertisers need to use contextual insights based on real-time data. They also have to redefine their goals by altering their messaging and reviewing their targeting and activation strategies to produce optimized campaigns. And this is what AlgoriX’s programmatic advertising platform has been delivering to its stakeholders – an opportunity for brands and publishers to combat the potential risks that can be brought about by the current global crisis.
Focusing on People
Looking into the current ecosystem, one can see that the audience volumes continue to increase in all platforms, with some venturing into new channels such as OTT and CTV. This presents an opportunity for publishers and various tech companies to get first dibs on this valuable information. They have the responsibility to share this with other stakeholders and, at the same time, come up with solutions that would allow brands to work on their campaign expenses. However, digital advertising must not forget to focus on people. While it is perfectly okay to spend hours thinking of algorithms, platforms, and ad servers to a great degree, they should factor in the consumer experience. They must, as much as possible, simulate TV experience.
Adapting to the New Normal
Like publishers, brands should also be careful not to be perceived as an organization that only wants to profit from the current crisis. At the same time, they also have to leverage this time to secure their position the best way possible, and this means adapting to the new normal.
Let’s take, for instance, advertisements that highlight the need for doing outdoor activities. These brands must then make sure that they adjust accordingly. They can no longer convey such a message because going outdoors is no lo longer acceptable. They have to come up with multiple ad formats that can convey their message in the context of how the consumers behave.
Both publishers and advertisers should prepare to see changes in audience demographics in terms of the OTT and CTV advertising ecosystem. There would also be differences in how the audience will consume content. With the current status, there is an expectation of a fragmented content consumption using different devices.
What does this mean for advertisers?
This means that publishers would work towards looking for different ways to provide advertising to their audience. To achieve this, they would make sure that the campaigns worked on various platforms while ensuring performance measurement. Publishers would also work on protecting their assets by optimizing campaigns that would be able to stand any crisis, no matter how sudden it could be.