Turning Up the Efficacy Dial with CTV Advertising this Holiday Shopping Season
Author: John Vilade, Head of Sales, Premion
The 2022 holiday shopping season is upon us! This year, U.S. holiday retail sales are expected to reach $1.3 trillion, a 3.3% increase over 2021, with holiday ecommerce growth expected to increase 15.5% reaching $236 billion, according to Insider Intelligence. While the season is projected to be a healthy one, brands and retailers will need to cater to more budget conscious consumers amidst inflationary pressures and adapt to a changing shopping season — one that starts earlier, is flatter, and has less concentrated ad spending during the Cyber Five period from Thanksgiving through Cyber Monday.
With the proliferation of streaming TV viewers, savvy advertisers are turning up the dial to reach the highly engaged Connected TV (CTV) audience. In fact, a May 2022 IAB report finds that three out of four buyers labeled CTV a “must buy” as CTV enables them to leverage first-party brand data, location data, and shopping data in ways they can’t with traditional linear TV.
Data-driven targeting capabilities in CTV allow marketers to optimize ad spending to meet changing consumer needs and local market conditions — and to ensure that their ad dollars are spent reaching high-value audiences to drive measurable outcomes.