After having to play defense to digital’s perception as being more effective for advertisers, the TV industry is more than ready to change the game and play offense.
During a panel at last week’s NAB Show, Comcast Spotlight’s Melissa Hutter, E.W. Scripps’ Jeff Hassan and TVSquared’s Jo Kinsella tackled this subject in detail, explaining why and how real-time performance analytics have been so integral to TV’s evolution as a performance-marketing channel.
Analytics platforms, like TVSquared ADvantage, allow advertisers to understand how TV campaigns are performing in real time, and provide the insights needed to optimize them for response. Brands and agencies are dynamically managing TV buys (just like digital!) to better drive sales and response. During the panel, Jo added:
“Whether you’re a local cable provider or whether you’re a brand direct advertiser, we work with everyone and anyone now. We’ve seen that people love the fact that [by using ADvantage], they can really understand when a spot airs on TV and what sales or conversions are driven as a result of that.”
Jo also referenced real-world examples, such as how one D2C food-delivery client saw a 64% reduction in cost per response, subsequently spending 3Xs more on TV because it could prove it worked.
Networks are also increasingly adopting real-time performance analytics to offer advertisers transparent, timely, accurate ways to measure the impact of TV spots. (Good riddance, ratings!) Some networks are even working with their advertisers to continuously optimize campaigns with the right inventory for response.
Melissa acknowledged that local TV “has traditionally been hard to measure when it comes to delivering attribution,” and mentioned Comcast’s partnership with TVSquared as integral to its ability to show TV as truly a “full-funnel solution.”
Regarding the importance of all sell- and buy-side players in the TV ad space leveraging such performance insights, Jo concluded:
“It’s about changing the conversation. And I think, culturally, as an industry, we’re ready for that.”