Benefits and trends for retail and CPGs in Advanced TV
The retail industry is changing rapidly, always adjusting to consumer behavior, creating touch points across the customer journey. The latest shift in consumer behavior is towards online shopping, online video and TV streaming consumption; a trend only accelerated during the COVID-19 pandemic. Retailers who embraced the shift to Advanced TV are starting to see tremendous value. This channel offers a compelling option to create new experiences and to reach more of their shoppers on an ever-increasing viewer base. (Not sure about all the Advanced TV terms? Check out our Advanced TV 101 infographic.)
How retailers and CPGs can benefit from Advanced TV
Not only are shoppers highly engaged when consuming content on Advanced TV, the numbers of people watching video on demand and the time spent viewing content are growing rapidly. For example, Roku’s quarterly results for Q1 2021 showed that the streaming hours increased by 1.4 billion hours over the last quarter to 18.3 billion and they added 2.4 million incremental active accounts in Q1 2021 to reach 53.6 million.
Retailers and CPGs can benefit from the insights and data Advanced TV media owners have about their viewers, and combine that with their own customer data to target the right audience and personalize the campaigns accordingly.
Another important part is measuring campaign success. With ATV advertising, retailers and CPGs can measure the impact of ATV ads on a one-to-one basis, from ATV ad exposure to website traffic to sales to full return on ad spend (ROAS). Want to learn more about measurement? Read our blog article on measuring advanced TV campaigns effectively with InfoSum.
With the ever evolving Advanced TV and data landscape we identified three trends that will continue to develop over the next months and years:
- Making the most out of Advanced TV advertising
With Advanced TV’s growing reach and precision potential, there are new ways opening up for engaging with targeted audiences. Advanced TV is creating more detailed and accurate targeting options, creating smaller target audiences for advertisers and brands rather than targeting a broad audience with less relevance. This will result in higher CPMs but ultimately in more precise and successful touch points with consumers.
- Increased awareness of data privacy and security
Companies and consumers alike are starting to become more aware of data privacy and security - consumers not wanting to be tracked everywhere and all the time, companies not wanting to share their customer’s data with third parties and the open internet.
Advanced TV media owners are realizing they want to keep their data within their own space and under their full control. With this getting more relevant, Advanced TV media owners are looking for better ways to collaborate with advertisers while still prioritizing data privacy and security - not wanting to share any data.
- New and advanced advertising possibilities
New technologies are developed faster and faster, which is why it is no surprise that there will be some new and advanced advertising possibilities for retailers and CPGs on Advanced TV, for example higher personalization of video ads as well as within TV shows and movies. And the first shoppable ads are already being tested, for example as a Shoppable TV solution on ITV as Catherine Hallam explained in our webinar on advanced TV. Watch the webinar here or read the recap on our blog.
The risk with personalization on Advanced TV is that there is a thin line between cool and creepy. The key to balance that is the creative.
How can InfoSum help support retailers and CPGs with Advanced TV?
With InfoSum, retailers and CPGs can collaborate with Advanced TV media owners without ever sharing their data. Through our patented ‘non-movement of data’ technology, the retailer, CPG and Advanced TV media owners maintain control of their data at all times, rather than relying on sharing and centralizing data in a third-party environment.
As well as protecting the commercial value of each company’s data, InfoSum’s platform opens up unique new insights that can be activated upon in real time related to the collaboration of data between retailers, CPG and Advanced TV media partners. All while always prioritizing the privacy of consumers.
By never sharing data, consumers’ privacy is preserved with personal data only ever being held by the companies they give direct consent to. Additionally, through advanced differential privacy techniques, InfoSum’s technology ensures no single individual identity is ever exposed. For retail, CPG and Advanced TV media owners, this means they can collaborate via InfoSum to create a holistic view of buyer behavior, unlock new shopper and viewer insights, improve customer experiences as well as shopper marketing, and operational performance while prioritizing the customer’s privacy.
Learn more about InfoSum for Retail & CPG.