Renovating Your Advertising Strategy: Why CTV Is the Key to Home Renovation Success
Growth is slow but steady in the home improvement industry, with the HIRI forecasting the consumer market to rise by .6% this season. The issue, then, is for advertisers — from home improvement retailers to paint and flooring companies and beyond — to find low-cost ways to reach renovators.
Enter CTV advertising: a cost-effective solution for reaching audiences with laser-like precision at scale. In this blog, we’ll explore the benefits of CTV advertising for the season and how it can help you create effective and engaging campaigns.
Navigating the Home Renovation Maze: Advertisers' Top Challenges During the Peak Season
Homeowners often look for reputable and experienced companies to help with their renovation projects. Advertisers need to build brand awareness and credibility, demonstrating their qualifications and track record of successful projects to build trust with potential customers. With this in mind, advertisers must hit the frequency “sweet spot” — showing their campaign enough times to drive awareness without bombarding or annoying consumers.
Another issue stems from the increasingly fragmented, multi-channel landscape that now exists. Brands have a plethora of options when it comes to targeting and reaching consumers, from traditional television to streaming services to even gaming consoles. With so many devices, channels and platforms competing for consumers' attention, though, it can be difficult to determine what platforms work best.
In the same vein, with the shift of media consumption, advertisers face the challenge of creating ads that will work well on both traditional television and digital platforms, as more and more people consume content online. This requires a different approach to ad creation and targeting, as well as different metrics for measuring success.
What’s a marketer to do? This leads us to our next point.
Renovators Are Watching Streaming TV Ads – Like Everyone Else
Streaming is now the single most popular channel for TV consumption in the U.S., according to Nielsen, attracting more viewers than not only traditional broadcast and cable, but also more time spent than social media, gaming and music. And when it comes to advertising, adults in the U.S. pay more attention to streaming TV than any other media channel, eMarketer found, thanks to the full-screen presentation, immersive experiences and non-skippable ad formats.
Streaming in Style: How CTV and Streaming Advertising Optimize Your Campaigns
Streaming and Connected Television (CTV) advertising combines the reach of traditional television with the targeting capabilities of digital advertising, allowing advertisers to reach a large and diverse audience with a high level of precision and efficiency.
What’s more, streaming and CTV offer advertisers specific capabilities that are superior to other media, such as addressable targeting, deterministic measurement, campaign flexibility and speed, performance-led optimizations, cost-effectiveness and audience engagement.
And when it comes to return on investment, streaming TV delivers a 30% higher ROI than all other marketing channels, including digital video, digital display, paid search and social, according to Analytics Partners. Streaming and CTV advertising can also provide a more premium, safe environment for brands, which can help build trust and credibility with potential customers.
How CTV and Streaming Advertising Complements Existing Digital and Social Strategies
But CTV advertising isn't just effective on its own. Streaming and CTV campaigns can be a cost-effective complement to an existing online, social or digital advertising strategy or media buys for the home improvement season. By using a multichannel approach, brands can reach potential customers through a variety of platforms, increasing the chances of their message being seen. Additionally, CTV advertising can provide measurable results, allowing advertisers to track the effectiveness of their campaigns and adjust them as needed, making the most of their advertising budget.
Building your brand with CTV: The Ultimate Renovation Hack
Simulmedia’s TV+© is the only streaming TV advertising platform designed to prioritize an advertiser’s needs. Here’s how we can help you create campaigns that reach homeowners everywhere:
- Our technology allows us to build your audience target by who they are, how they’re watching and what they’re watching so we can confidently reach them at the most high-engagement, high-attention moments and at the most efficient cost.
- Our direct integrations with virtually every ad-supported streaming service, publisher and app allows us to place your ads in premium, brand-safe environments with full transparency into where you’re running.
- To ensure maximum results with minimal waste, we deduplicate audiences and manage frequency across ad-supported streaming services so you’re not overdelivering your message to the same viewers.
- Our team of experts and TV veterans manage all aspects of your campaign from start to finish.
- We provide more granular measurement of the KPIs that matter to you than you’ve ever enjoyed before while our dedicated Simulmedia team optimizes your campaign for continuous improvement throughout your flight.
In conclusion, as a marketer, CTV advertising should definitely be considered as part of your advertising strategy if it’s householders you’re trying to reach. Use this strategy by itself or in conjunction with other channels to create a more cohesive and consistent brand message and reach your target audience in a more effective way.
Find out how Simulmedia’s unique TV+® platform for TV and streaming advertising provides unified access to premium linear and CTV inventory across all networks and publishers. Request a demo or email us at firstname.lastname@example.org.