Only 40% of marketers surveyed by Innovid said they believe their ad optimization practices for converged TV are very good.
It’s not for lack of trying. The marketers said they spend 56% of their time trying to optimize the performance of their converged TV advertising.
“Spending on CTV ads has skyrocketed by about 400% since 2019 and with more ad dollars spent on converged TV as a whole, brands and agencies feel increased pressure to prove the efficiency and effectiveness of their investments,” said Dave Helmreich, chief commercial officer at Innovid.
“A unified view of performance across the converged TV landscape is critical but with measurement done separately from campaign management and optimization, there is a disconnect for advertisers to be able to effectively drive ROI,” Melmreich said. “Converged TV optimization needs to be made seamless for advertisers through real-time measurement that is immediately actionable and can deliver results. InnovidXP provides marketers with a unified view, actionable insights, and the ability to automatically optimize campaigns to drive business results — bridging the gap with a single, fully integrated platform.”
Innovid’s study, titled The Converged TV Disconnect: Advertisers on Bridging the Gap Between TV Measurement Insights & Results, also found that optimization frequency isn’t keeping pace with measurement.
The metric that was most often optimized for was engagement by platform or publisher, followed by engagement by creative, outcome by creative, reach by platform or publisher and outcomes by platform or publisher.
Innovid’s Converged TV study was conducted online by PureSpectrum, which surveyed more than 250 brand and agency professionals in North America in August 2023. Marketers surveyed included both brand (55%) and agency (45%) professionals across industries including auto, retail, entertainment and finance.
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Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.