TEMPE, AZ / ACCESSWIRE / January 14, 2021 / Genius Monkey, a leading programmatic advertising platform, has revealed the skyrocketing power of OTT in a recently-released case study showcasing how a higher education client/user of theirs improved the timeline of conversions by over 20%-simply by adding OTT to their ad mix. As more and more OTT channels continue to emerge across the globe, Genius Monkey only expects to see more results like this in the future.
Case study shows OTT greatly reducing the path-to-conversion
In their recent case study, Genius Monkey was engaged by the Advanced Training Institute (ATI) to help boost student enrollment through greater brand awareness. The Advanced Training Institute already had a strong display campaign and budget in the works, but at Genius Monkey's suggestion, they added OTT channels to their ad mix and saw remarkable results.
Prior to adding OTT to their marketing efforts, only 5% of ATI's conversions occurred in less than 2 days of the user seeing their first ad. After a month of including OTT, that number jumped to a staggering 22.6% of users converting in less than 2 days! The addition of OTT channels to their campaign strategy helped ATI shrink their path-to-conversion time. Here are the highlights of results:
- Users who took over 90 days to convert decreased from 63.5% to 35%, a 28.5% improvement
- Users who took less than 2 days to convert improved to 22.6% from 5.1%, a 17.5% improvement
Genius Monkey has seen a dramatic improvement on nearly all campaign metrics when OTT ads are included in their clients' marketing strategies, particularly when it comes to improving path-to-conversion timelines. And given the exponential growth 2020 has seen in regard to video streaming, they expect to see increasingly positive results with OTT up ahead.
But don't put all your eggs in the OTT basket just yet. The strength of OTT is really found in its additive power. OTT alone isn't enough to boost campaign numbers so impressively. But when added to an already-strong digital campaign mix, OTT can significantly enhance reach, ad repetition, and conversion potential by reducing the customers' journey and time it takes to convert.
Another key takeaway is to always make sure and use proper conversion attribution with OTT campaigns. With an OTT ad placement on a television, it's not possible for the user to click on the ad and make a purchase right then and there. So without impression level attribution tracking, you have no way of knowing the effects of your campaign or if the user converts after the fact. This is why having attribution on all programmatic mediums is essential in building a sound digital marketing strategy.
OTT marketing trends continue to grow
Due to lockdown and social distancing measures keeping people indoors this year, screen time has shot through the roof! Particularly when it comes to streaming media content. According to Nielsen, streaming grew from 19% to over 25% of total TV minutes viewed in the first half of 2020, making it an increasingly attractive platform for marketing campaigns.
The rapid increase of emerging streaming platforms, such as Apple TV, Amazon, Netflix, and Hulu in the digital media field has also posed a challenge to traditional television-specifically cable TV. In fact the number of Americans that subscribed to cable or satellite in 2011 was 84.8%, whereas in 2020 it has dropped to 68.6%.
In a recent pay TV forecast, eMarketer said they expect nearly 6.6 million U.S. households to toss aside traditional cable television in favor of streamed content options. This large number of "cord cutters" is nothing new as the traditional TV industry has seen a 7.5% decline, year-over-year, in dedicated viewership. And this cord-cutting trend is only expected to grow.
This is good news for advertisers looking to expand their reach and be more targeted at the same time because Genius Monkey can help them find audiences across OTT and CTV that aren't possible through traditional media channels-with greater results. Streamed ads that run on OTT platforms are far more targeted, brand-safe and trackable, and are therefore, highly-effective.
Big opportunities with OTT ads
There are many reasons OTT appeals to advertisers, and the data continues to grow upward. A few benefits of advertising via streamed content channels include:
- Access to 80 million US CTV Households and 39 billion monthly available impressions
- Matching of 87% of bid requests to household-level targeting profiles
- Access to CTV supply across more than 20 exchanges and 100 networks, apps, and channels
The marketing opportunities with OTT are filled with potential as the consumption of streamed content continues to increase with a switch from traditional media to digital media. Genius Monkey helps advertisers connect with these opportunities and increase conversions by delivering ads through all available OTT and CTV platforms.
"We believe that the acceleration in streaming advertising will be a sharp one this year," Jeremy Hudgens, CRO and Director of Client Solutions at Genius Monkey said. "Linear ad-spend budgets aren't going anywhere, they're just shifting more and more towards OTT, CTV and other programmatic ad buys, where there are more options like behavioral targeting and attribution tracking. Traditional TV ad spending will drop by 15% this year to $60 billion, which is the lowest it's been in the last ten years."
About Genius Monkey
Genius Monkey is a digital advertising technology firm with an advanced full-service marketing platform designed for today's real-time programmatic advertising and tracking needs. Our media and device agnostic systems are only the beginning of our performance success. Our advanced marketing technology and services make it possible for advertisers to reach millions of targeted customers with ease and convenience at a fraction of the cost of traditional marketing with the best performance attribution in the industry. To learn more about how Genius Monkey can help your brand evolve, visitgeniusmonkey.com.
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SOURCE: Genius Monkey