I’m blessed to be a member of the DMM Expert Panel – learning, growing and sharing with fellow automotive marketing pros. Here’s are some excerpts from my article they’ll be publishing Feb 5, 2021 on Over-The-Top, Video Streaming and Connected TV and how they continue to rapidly evolve.
“Lockdown spurs growth of streaming video driving more opportunity for local dealers
The Covid-19 pandemic has changed many aspects of our lives, including the way we work, learn, shop and communicate. In regards to consumer video consumption, the pandemic hasn’t so much changed the paradigm as it has advanced significant trends already in motion, mainly the impacts of cord cutting and streaming on the growth of digital video and the continued audience erosion of traditional TV.
BIA Advisory Services (a recognized media industry consultancy) labeled OTT and connected TV as “game changers” citing “advancements in ease and ability to purchase fragmented inventory and more advanced audience targeting” in releasing its forecast for U.S. local advertising in 2021. According to BIA’s Rick Ducey “(the) local viewership shares gained in Q2 and Q3 of 2020 (are expected to) be maintained and expanded” According to eMarketer research, connected TV (CTV) audiences have now surpassed those of cable TV. Simply put, the audience growth that has occurred as a result of the lockdowns is here to stay.”
“OTT’s growth, along with advances in data integration, provide new opportunities for dealerships to use more personalized TV advertising to deliver targeted video ads.“
“OTT advertising also offers some key advantages compared to other digital platforms such as YouTube and facebook. While both YouTube and facebook offer the targetability of in-market shoppers, the granularity available in the attribution of OTT campaigns is currently not easily duplicated in either of those media. Another advantage unique to the OTT platform is the high view thru rate of the video campaigns which often exceed 95%. This means that OTT video messaging has a high completion rate. Compare this to YouTube with a view completion rate in the 31% range (bigcommerce.com) or facebook where the scrolling nature of the format also translates into a low completed view-thru on the video ads.”
Link to full Dealer Marketing Magazine article will be here (once published)