CTV presents massive opportunities for marketers to capture millions of audiences globally. The number of households in the U.S. with CTV devices is projected to increase up to 113 million by 2024; over 60% of the population across various countries in Asia-Pacific (APAC) are watching or streaming online TV. APAC also boasts the highest growth rate of CTV ad spend over the next year at 34%, compared to 20% for the U.S. and 21% for Europe, Middle East, and Africa.
Apart from this growing trend, the fundamental attributes of the CTV space generate several advantages for marketers. Since CTV is a more communal medium, advertisers can potentially capture multiple viewers using one creative, increasing the chances of reaching their target audiences. It’s also cookieless and relies on IP addresses to build household data graphs, providing a more future-proof ad solution.
To take advantage of what CTV has to offer and boost return on ad spend, advertisers need a holistic strategy with the right partnerships in three main areas:
Data vendors. Using vendors that offer accurate, scalable, and privacy-compliant audience data with full transparency into the attribution process is just as important, if not more, than the medium.
ID resolution partners. Advertisers need to select ID resolution partners that offer scale, accuracy, and coverage across countries for audience targeting and measurement, especially as IP addresses for CTVs are expected to follow the same fate as cookies. Partnering with a leading identity resolution provider can ensure that your media strategy inclusive of CTV and audience relationships remains intact.
Creatives. When creating advertisements for the CTV space, advertisers need to consider the overall theme and their target audience, as well as the decision-makers in a household.
To learn more about what CTV can do for you, download Understanding CTV: A Guide to Succeeding in this Global Advertising Ecosystem, a whitepaper by Alike Audience, a top-10 ad management solution in APAC.