Staying Ahead of a Changing TV Landscape
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Author: Matt Cote
While I am not a financial expert, I am smart enough to know the most important part of investing is to diversify your portfolio. While once it was said that a rising tide lifts all boats, nowadays, it’s more likely that some boats get lifted and others go down. Diversification gives you the best bet for long-term success.
With the recent news that streaming television captured more viewership than cable for the first time ever, the idea of diversification is just as important to ensure you get the most out of your video campaign. In the U.S., streaming captured 34.8% of viewership in July, while cable accounted for 34.4% and broadcast came in third at 21.6%. This shift to streaming was sparked by the pandemic and there’s no sign of reversing course. Over 190 billion minutes of streaming occurred in July alone—a time when shows typically fall off in linear TV consumption. This spike was aided by new seasons of Netflix’s Stranger Things and Hulu’s Murders in the Building.
As the landscape rapidly changes, it is imperative that your video strategy can capitalize on all forms of TV advertising. Even with the growth of streaming, we strongly believe that almost all TV campaigns should still contain a liner component that is often diversified across cable, broadcast, and syndication. Having an expert (or agency) that fully understands all aspects of the video marketplace is more important than ever.
It is also important that the expert knows the main KPI (i.e., maximum reach or performance) and truly understands how to use all video outlets available to reach those KPIs. If they are married to one video outlet (as many are), you will likely be missing out on valuable audiences. In addition, you need someone that has the flexibility to quickly revise plans based on initial results.
At Eicoff, we have always been laser-focused on using any video medium that will drive maximum results for our clients. While our roots are in linear performance TV we have been well ahead of the curve when it comes to CTV, digital video, and social video. We are agnostic to what screen is going to provide the lowest cost per sale or the lowest unique reach extension. Sometimes that means a mix of cable TV and publisher-direct CTV is the best way to go. Other times, a base of programmatic CTV mixed with a strong broadcast TV buy makes the most sense. This flexible approach has paid off well for our clients.
If you would like to learn more about how we approach the diversification of TV advertising, please reach out to Matt Cote.