For many marketers looking for how to build awareness, TV advertising is often the first medium to come to mind. That landscape is shifting, with streaming TV viewership surpassing linear for the first time ever. American viewers are spending 34.8% of their time exclusively on streaming platforms according to Neilseni. This rapid growth in Connected TV viewership presents an opportunity for marketers and business owners to put their business on the big screen more affordably and efficiently than ever before.
The streaming TV landscape is quickly evolving, not only bringing new platforms and opportunities but also greater complexity. It can be difficult to manage, monitor, and evaluate campaigns to know what’s working.
Whether you are taking on a new streaming TV platform or looking to optimize your current campaign, take some time to consider what you’d like to achieve with your advertising. Once you know what your goal is, you can create a campaign that is laser-focused on achieving it. Below are four KPI’s you can be measuring in your TV advertising campaigns.
1. Brand awareness. It takes on average 7 touch points before a customer makes a purchase decision. You can use frequency metrics to measure the average number of times your campaign is seen by a unique device. Drawing more of your target customers in and engaging with them multiple times improves your customer journey and makes it more likely they’ll purchase.
2. Website traffic. While your audience watches Connected TV, it’s likely they have a second screen, and many will search for your brand later. Monitoring changes in new visitors to your website and performance of your search engine marketing campaigns can show the impact of your campaign.
3. Targeting efficiency. How well is your campaign reaching your target customer? A well-defined strategy that reaches the right audience is extremely valuable, even if it means reaching fewer people. Modifying your campaign targeting to reach only your target customers may lead to higher engagement with your website and brand.
4. Sales and conversions. Building awareness efficiently ultimately leads to increased down-funnel activity. The more potential customers are aware of and engaging with your brand, the more they’ll convert to paying customers. Monitoring your overall sales activity will give you an idea of your advertising’s impact as well as the length of your average customer journey.
Establishing the KPIs that you’d like to focus on is an important step in evaluating any marketing effort. Awarity’s Connected TV Campaigns specialize in building awareness, but if you have another KPI you’d like to achieve, we can help ensure your strategy is set to achieve it.
i. Nielsen: The Gauge Reveals Streaming Surpassed Cable for the First Time in July, Capturing its Largest Share of TV Viewing to Date