A family sits down in their living room. Everyone is gathered around, waiting for their favorite show to start. They stare at their radio in anticipation.
Ninety years ago, this occurred in homes across the country every single night. At the same time, local companies leveraged the power of radio’s reach and promoted their products while building their brands.
Then broadcast TV came along. Advertisers soon found that visuals increased awareness and drove sales even further. Soon, broadcast television gave way to cable, which is now stepping aside for a variety of platforms that deliver video content, including CTV. The way people consume media is ever evolving and, as marketers, it’s imperative to understand where they’re moving to and how to reach them effectively (and affordably).
CTV: The Modern Evolution of Television Advertising
We love digital advertising at Enrich. But there’s a danger in labeling everything that’s consumed via non-traditional methods as “digital”. Paid digital allows us to hyper-target in-market prospects. However, it leads to a huge concern over targeting.
One of our core beliefs is that top-of-mind awareness drives bottom-of-the-funnel sales. Share of mind equals share of market. For seven years, we’ve used television as the foundation for building brands and establishing positions. TV still provides value and is an affordable way to use reach to create awareness and affinity. But cords are being cut, and CTV helps us to reach the people who are cutting them.
The Cord-Cutting Revolution
We see it every day. Adding CTV helps us increase results across campaigns. Here’s why…
- People Are Cutting The Cord – In 2023, streaming accounted for 38.7% of total TV usage, a figure that is expected to keep growing as more viewers shift away from traditional linear TV (MNTN) (MNTN)
- Brands Are Following Them -. By 2027, it’s projected that streaming ad spending will surpass linear TV, accounting for 68% of all television ad spend (MNTN) (VDO.AI).
- Targeting Balance – CTV leverages first and third-party data to target your prospect while providing reach at lower CPMs.
From radio to television to the remote control to cable to the internet; media will never stop evolving. How we reach our prospects shouldn’t either.
Rich Chiaino
CEO, Enrich Marketing
