Years ago, there was one device in a household -- the television -- and everyone sat around it. But as online marketers know, multiple devices are changing how people are consuming content, providing so much opportunity within this digital world.
In a Spotlight session at the iMedia Agency Summit in Bonita Springs, Florida, Aleck Schleider, VP of data and analytics at Videology ,shared some insight about the role of digital technology in a converging world of screens.
The average American consumes more than 11 hours of content each day, a 16 percent increase from three years earlier. This statistic is cumulative -- e.g., hours spent sitting on the couch, television on while on the computer, accounting for more than one channel of consumption.
Despite industry claims, TV isn't dead. It's changing and evolving, presenting exciting challenges for brands. In 1990, Cheers had the No. 1 rated TV show of 21.3 among adults ages 18-49. Meanwhile, in 2013 the No. 1 rated show for adults 18-49 was Sunday Night football at a rating of 8.2. But yet consumers' TV/video consumption continues to increase, so it is not really a matter of whether the audience is available, it more about knowing how and where to reach them.
The next 24 months are going to be a revolution in the television industry. "The changes that are happening today are going to change how TV and brands reach consumers for many years to come," Schleider noted.
There are many options for advertisers, which can be overwhelming. According to Schleider, it is a critical time to embrace holistic and cross-channel video planning.
Videology partnered with Forrester and conducted a recent study that found almost 70 percent of all advertisers and agencies believe agencies will begin to plan video campaigns holistically.
Video is like television. Premium content matters, and 80 percent of it is reserved and planned upfront. Schleider also explained that brands typically get what they pay for if they gravitate toward buying cheap CPMs. You need to measure beyond the click and have a balance of supply strategies. That's why it's important that companies like Videology use data and decisioning to drive ROI and sales for advertisers based how people consume content across screens.
There are numerous opportunities for brands to overlap into a TV environment and continue to drive programmatic audience targeting, like Videology's "TV amplifier," a TV-centric product suite uses advertiser-specific TV data for smarter cross-screen media decisions for planning, execution, and measurement.
Brands recognize that to create greater efficiencies they need to evolve their planning strategies. Schleider said, "Tools are being built to show brands the best overall shift of ad dollars." Brands can use purchase behaviors and digital data to understand their TV consumer. There's an ability to build custom targeting audiences based on cross channel exposure and effective frequency goals.
It's important to balance strategies with a mixture of content and cross channel media that provides scale and measurable sales. With the new era of content consumption, the promise is here. The technology is real, and convergence drives results.