Digital video ad spend is dramatically increasing in the UK, yet more than four in 10 (41 per cent) of digital video advertisers and buyers say that a lack of understanding of the ecosystem is one of the key barriers to greater adoption. In a study conducted by Xandr, more than half (57 per cent) of advertisers cited lack of supply, and more than a third (35 per cent) availability and quality of data, as the other top challenges.
In a bid to highlight and address these barriers, Xandr has released its 2021 CTV Guide to provide platforms and brands across the globe with actionable advice on CTV advertising. Insights in the Guide come from interviews with 900 senior video marketers and viewpoints of major companies in the space including OMG UK and Peach Media. The Guide highlights that there is significant room for improvement when it comes to effectiveness of video advertising campaigns:
Austin Scott, Head of EMEA video marketplace development at Xandr, said: “The connected TV opportunities are clear – so much so, that CTV, like TV, is fast gaining traction around the world and smart ad buyers are already contemplating their global CTV strategy. But, like any nascent technology, it is not without its challenges. That’s why we’ve launched our CTV Guide, to help buyers and sellers navigate and overcome the barriers to CTV, such as data accuracy, lack of understanding and supply, and ensure marketers effectively exploit opportunities in this new ‘golden age’ of TV.”
What’s clear from the survey is that advertisers have high expectations of video platform partners. The primary concern in all regions is that it ensures brand safety, ranked most important by 83 per cent of UK marketers. This is followed by prioritising user data privacy (73 per cent), and inventory transparency (72 per cent).
Asked specifically about the convergence of linear TV and digital buying, the biggest challenges likely to impact this in 2021 from the perspective of UK marketers are –
Jason Trout, Global chief digital officer, Peach: “To really thrive in the CTV space, you have to commit to the significant need for creative variations. With that comes a responsibility to ensure that users see appropriate advertising copy to consumer, engage with and feel drawn towards. Broadcasters would never allow the same ad to run in the same linear ad break, and certainly not with a similar competitor. The same rules should apply in the CTV world. We must be careful not to rely on broad templated creative executions in video. Context is a key attribute in determining if a commercial intervention jars or is seamless. It’s important that CTV campaigns maintain an emotional connection with the viewer; something brands can achieve with true creativity – not just rotating an end card and calling it ‘personalised.”