Tremor Video launches an upgraded data-driven CTV offering to help advertisers improve the relevance and impact of video storytelling.
As people increasingly choose OTT platforms and streaming services over traditional cable TV, connected TV (CTV) is being touted as the advertising industry’s biggest opportunity in recent times. The pandemic, coupled with an exciting mix of content offered by streaming services, has led to CTV receiving much attention. Yet many marketers believe there is much room for effective monetization of the increasingly popular channel.
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That is exactly the gap Tremor Video is looking to plug through its latest CTV offering. The programmatic video platform announced earlier this week that it had enhanced its CTV offering with newer data-driven creative solutions to help advertisers deliver dynamic video storytelling that will significantly improve the relevance of brand messaging for audiences.
Tremor Video will leverage extensive consumer data powered by machine learning insights to serve hyper-targeted and relevant ads to consumers. Tremor’s in-house Creative Studio automates creative asset development for clients by generating multiple video variations tailored for each audience segment. These capabilities include the centralization of strategic planning, design, rendering, serving, and tracking.
Citing a recent IAB studyOpens a new window , Tremor says 75 percent of markers identify targetability as a key benefit of CTV. However, 27 percent of marketers also believe that data is the biggest obstacle to achieving personalization. To that end, Tremor Video seeks to improve advertising capabilities through its data-driven creative solution by leveraging consumer behavior data to achieve real-time personalization at scale and tap into video’s multi-sensory appeal.
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“Now more than ever, brands find themselves having to quickly adapt their campaigns in order to ensure their messaging speaks directly and compassionately to consumers dealing with change and uncertainty,†said Les Seifer, Vice President and Head of Creative at Tremor Video. “While the behind-the-scenes production and execution is intricate and complex, we enable brands to connect with their consumers efficiently and effectively, with a minimal amount of work on the brand’s part.â€
Are OTT Services Replacing Traditional TV?
While the adoption of OTT services has been linked to “cord-cuttingâ€, which means cancelling traditional TV subscriptions to focus on web-only offerings, it doesn’t necessarily mean traditional networks will go away any time soon.
In 2015, Apple CEO Tim Cook said that “the future of TV is apps,â€Opens a new window however, five years later, we aren’t there yet.
There is no denying though that streaming apps are growing in popularity across American households. And shifting viewer habits are redefining revenue streams of advertisers, which presents a massive opportunity for CTV market growth.
Vevo, the music video platform, said it witnessed a 20 percent increase in viewershipOpens a new window on CTVs since the beginning of March. The music video service reaches a massive 148 million viewers a month. Similarly, Hulu counts 83 million viewers as its ad-supported customers.
Streaming services represent a massive shift in consumer behavior – which means, for advertisers, CTV is no longer optional but critical to thriving in a post-digital world.
How can Advertisers Navigate CTV Challenges to Provide Better Digital Experiences?
Companies like Tremor Video have been successful in addressing some of the fundamental challenges to CTV advertising such as personalization, targetability, and measurement. However, one of the most crucial hurdles keeping advertisers from unlocking the real potential of CTV has been striking a balance between preserving the value of content and preventing ad saturation amongst users. Unfortunately, there is no quick fix for this, and advertisers must learn to map personalization/relevance with intent signals.
Artificial intelligence and machine learning-embedded technologies can provide advertisers with the opportunity to optimize ads for customer intent. Solutions like Tremor Video can prove to be a great ‘test-and-learn’ platform for brands looking for the sweet spot between relevance and intent.
The CTV market looks promising at the moment. Experts predict that CTV households are expected to grow to 82 percent in the US by 2023. Although it’s still too soon to say how the CTV market will evolve over the next five years, it remains a very lucrative market for advertisers.