Be Prepared for Uncertainty this Q4

5 keys to planning your TV strategy

2020 has been a year of uncertainty and turmoil, with many marketers juggling budgets and struggling to forecast what the holiday season will bring to their bottom line. TV spend will play a major role in the P&L equation for many marketers in Q4. Whether you have an established DTC business or rely on traditional retail channels for generating revenue, you will have to look at planning through a different lens for the final three months of the year.

Here are five important considerations for planning your Q4 TV campaign:

1. Flexibility will be a necessary tool in your arsenal. This year has provided plenty of evidence for how the news cycle can upend your marketing plan. Looking ahead to the fall, we’ll have election news, and the continued presence of COVID-19 with schools back in session and expected spikes in cases during flu season. This is on top of the possibility of any new major breaking news stories that could arise and disrupt your media plan. Be prepared with plans B, C, and possibly more. But also be careful not to over-commit. Embed some flexibility into your tactical plan, either via DRTV buys, short flighting, or contingency creative assets.

2. Viewership will be strong, so advertisers will get their money’s worth on TV. Despite the lack of live sports and the absence of much new original programming, we saw record increases in TV viewership across linear and streaming video platforms during the March-April time frame as most consumers were quarantined to their homes. What will the second half of the year look like? We anticipate a strong fall season, with solid viewership numbers sustaining into the holiday season. We expect a rebound for the linear space, as live sports and original programming will be back, and the news cycle will be robust with continuing COVID news alongside election coverage (pre- and post-election).

3. Supply & demand will fluctuate on a weekly basis. With so many advertisers pulling out of the upfront marketplace, we expect a very volatile scatter inventory situation to make pricing unpredictable. Advertisers will pay premiums for the most desirable content, but there will be plenty of viewership to capture. Media buyers will need to cast a wide net, and savvy buyers will take advantage of a long tail of content providers to deliver efficiencies for their clients.

4. Streaming has a strong foothold in the TV mix. Consumer habits have solidified, and streaming video has a permanent place in the TV mix, now accounting for 23% of video viewing. Linear and OTT need to be looked at as one integrated video campaign, as they will complement each other in building reach and driving sales. Make sure you have the tools to both plan and measure delivery across platforms to maximize spend. Use learning from targeted OTT placements to enhance linear planning. Ensure you have an attribution model in place to capture the impact across your full video plan.

5. Track your schedules closely for clearance and performance. It will be important to know when your spots air, and what type of response they are generating. Pre-emptions will be a reality with programming changes and breaking news. You need to proactively track how and where your spots are airing each day, so you can make adjustments as necessary to make sure you are pacing towards your delivery goals — especially when each week becomes a valuable revenue source around the holidays. And whether you’re a brand or DR advertiser, you need to be tracking response or actions taken when your spot airs. For DRTV marketers, tracking response is part of the optimization process. But even brand advertisers gain valuable learning from tracking digital response like search, social, and direct web visits to gauge the impact or conversation that their campaign is driving.

If there’s one thing we can predict about the end of 2020, it’s that it will be like no other we have seen in recent memory. So when it comes to your TV advertising, having a flexible and performance-driven strategy will go a long way to help you reach, or (even better) exceed your goals.

To hear more about how we’re helping clients make the most of their marketing, reach out to me (Rob Schmidt) at rob.schmidt@eicoff.com.