Marketing is an ever-changing landscape with new kinds of platforms constantly emerging. Suddenly, streaming became a major way for consumers to view videos. Later, headlines talked about the decline in regular TV viewing. Advertisers and their media plans became more confused. However, as our latest blog “Is Regular TV Actually Dying?” stated, linear TV is far from being dead.
Because headlines mainly talk about the growth of streaming and the decline in regular TV, many advertisers are missing out on the opportunity for producing ads on both channels. This cross-platform marketing strategy is a great way for brands to meet their goals.
Linear TV Will Remain on Top
Despite streaming services on the rise, most Americans still spend six hours per day watching regular TV. Popular TV shows and live sporting events continue to pull consumers in, allowing advertisers to have a big reach with their ads. Since most Americans still watch regular television (Yellowstone averaged 8.35 million same-day viewers, and live events like NFL games and the World Cup set ratings records), TV advertising is still the best way to reach an estimated 96 million consumers.
Figuring Out the Right Mix of Traditional and Streaming Advertising
Due to financial reasons, combining traditional and streaming advertising can be tricky for advertisers. The recommendation is for a balanced approach where advertisers spend 20-30% of their budget on streaming to increase their reach. If advertisers go over this recommended amount, it will only increase how many times people see the ad, not the total reach. It’s important for brands to keep their KPIs in mind when they are creating addressable ads.
The Importance of Cross-Platform Measurements
When advertisers are campaigning across multiple channels, it is important to measure conversions with reach to understand the total impact on consumers. With linear TV, it can be hard to know how much of an impact a brand’s ad made on a consumer when they are purchasing a product. However, there are new tactics that let companies track how their ads impact the consumer journey, including intelligent targeting that can predict how TV ad exposure will lead to purchasing behavior. Creating targeted ads across multiple platforms is becoming a must in the industry.
Cate Bender, the author, is Project Coordinator of Marketing Keys