Streaming Video Planning and Buying in 2021 by Goodway Group

Goodway Group POV

Streaming Video Planning and Buying in 2021 PREPARED BY

Christine Foster VP, Field Media Solutions Goodway Group August 2021

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Goodway Group POV

Television and video consumption are undergoing a historically transformative moment, as linear television continues its yearslong decline and streaming video, or CTV, continues its meteoric rise. For programmatic, this has necessitated a shift away from the fraudriddled open exchange in favor of the over-the-top (OTT) and connected television (CTV) space where advertisers can’t afford to be absent. Think of this like a chrysalis stage for how people consume motion pictures and sound – the days of limited networks controlling where and when people watch may be on their way out, but television won’t die. It is emerging even more connected to our everyday. For more than a decade, advertisers have relied on programmatic for reaching audiences with increased precision. But simply reaching an audience isn’t enough. Going back to the days of the mad men, content is king, and it continues to drive a big portion of the purchase decision. CTV has married the beauty of programmatic tech with television content in ways that are critical to the new consumer journeys.

CTV has married the beauty of programmatic tech with television content in ways that are critical to the new consumer journeys. – Christine Foster VP, Field Media Solutions Goodway Group

But in case you’re not convinced yet, here are a few stats on video consumption:  • 84% of people say that they’ve been convinced to buy a product or service by watching a brand’s video1  • 79% of people say they’ve been convinced to buy or download a piece of software or app by watching a video2   • Experts forecast U.S. adults will spend an average of 2 hours and 29 minutes per day viewing digital video in 20213 • In general, over-the-top (OTT) user penetration will be over 40% in 2021, and the advertising revenue is projected to reach over $91MM in 20214 • Linear TV viewing in U.S. households continues to fall by approximately 10%, quarter over quarter5

Sources: 1. Wyzowl Video Marketing Statistics 2021 2. Wyzowl Video Marketing Statistics 2021 3. eMarketer 4. Statista 5. Samba TV

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Goodway Group POV

So what’s the best approach to leveraging CTV in an upcoming campaign?  Commit to Quality  Valuable streaming video inventory is limited. Currently, the open exchange is riddled with fraud, which means programmatic CTV and video buying must adjust. Premium inventory is available, but to guarantee access requires planning ahead and buying among multiple platforms and networks.   Apply linear television thinking to programmatic video buying. Traditional upfront buying – a committed spend in exchange for premium inventory – has moved into digital and with it comes the need for advertisers to plan streaming video buys annually. By Q3 and Q4, a large portion of premium inventory is not available programmatically due to the upfronts that have already been secured; advertisers who haven’t planned far in advance will miss out and leave their connected television and online video budgets open to fraud.

The 2021 upfront commitments generated an increase in CTV ad spend by nearly 50% from last year to $4.5 billion; this puts a major squeeze on advertisers who aren’t taking advantage of deals — like the ones Goodway Group has — as early as possible.

Another way to avoid fraud is via a private marketplace (PMP or PG deals). This programmatic inventory is more transparent and monitored for irregularities in performance, so advertisers can be assured a higher level of quality, and better pricing. PMP deals also afford opportunities to test new features and audience engagement opportunities.

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Goodway Group POV

Know Your Audience  No single platform has access to all inventory or the ability to reach every audience. Buying across multiple platforms or content providers is necessary.  Focus your buying strategy by either platform or channel. Plan to buy either across several streaming video platforms or choose to buy a specific set of channel placements, based upon the content. For instance, you might buy Hulu, Roku and YouTube, which are unique platforms. Or you might buy inventory across Viacom, NBC and FreeWheel (Comcast). Attempting to buy a mix of different platform and content is possible, but it will be difficult to optimize frequency caps and serve relevant ads. By isolating one control variable, you’ll more easily deduplicate spend. Over time and with increased transparency in the space, this need will shift. But for now, a focused buying approach is important.  Next, review the specifics of your audiences’ media consumption habits. Keep in mind, most users don’t just watch one channel or device. Streaming video platforms share audiences, but each also has unique demographic sets and inventory available. Understand the nuanced differences in audience on each platform or channel so that you’re showing up at the right time, in the right place. To be clear, behavioral targeting isn’t enough or always an accurate way of pinpointing streaming video audiences. You must include content targeting in your online video strategy. Streaming video platforms know their audiences better than any thirdparty data source.

Harmonize your streaming video strategy to create targeted and coordinated reach to get in front of your ideal audience at optimal times. 1. Focus on video content that people are consuming by interest and type. 2. Select the right app or network based on where you want your brand to appear. 3. Expand to cross-device for maximum reach.

Harmonize your streaming video strategy. What people are watching (content), where (app/network) and how (device) are not individual areas of focus – they need to be coordinated.

Understand the Medium  Beyond knowing who the audience is and where to reach them, spend some time getting to know their mindset when and where they will watch.   Between Hulu, Amazon, Roku, YouTube and others, the list of premium video platforms is growing, and advertisers are missing out if they’re not meeting their targeted audiences here when they’re streaming, in the same way they would with traditional network television budgets. Secure the right creative assets to play in the format and setting in which the audience will be most receptive to the message. A commitment to good creative is vital. Keep the player size and device in mind when you think about how you’re going to cut through the noise and get the attention of a potential customer or user. For instance, a mobile device is geared toward reaching a single user and can be limiting in terms of displaying copy; whereas an ad played on a connected TV can be viewed by multiple users at once and provides a larger space for displaying the message.

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Goodway Group POV

Plan to Measure Regardless of how you’re planning to buy CTV or streaming video, knowing how you’ll measure is key. The buying strategy must be anchored within the consumer journey so that a diverse set of platforms and channels work in tandem to achieve advertiser objectives. Leverage measurement technologies. A well-planned digital video campaign can lead to better business results. But as programmatic video buying moves away from buying within singular DSPs, advertisers will need to engage measurement tools and technology to show value in the coordinated approach across platforms or channels. Many of the premium OTT and CTV services and platforms, like DV360, Amazon and Roku offer measurement tools – advertisers should take full advantage of these offerings. Beyond platform specific tools, digital advertisers also need to be thinking like a traditional television buyer and more often invest in tools like Nielsen, Lucid Brand Lift, Polk, Ibotta, Oracle, Foursquare and more for a wider perspective on campaign success.

Catch up on how to reach your audience with our full Advanced TV Guide updated in response to COVID-19. Download Now

The future of video and television is here. Beyond just focusing on the audience, successful marketers will need to consider the best content and format to reach their audience to create better viewing experiences and connections with brands.

Goodway Group is the digital partner advertisers trust to drive campaign performance and media efficiency. Proud to be completely independently owned and operated, Goodway provides trustworthy expertise that meets its clients’ needs – and no one else’s. Using predictive intelligence, Goodway helps advertisers get the most value out of every impression across all paid digital media. Through the combination of employing the smartest technology and the most experienced people in the industry, Goodway delivers authentic results.

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