Increase B2B Conversions Using Programmatic ABM

Increase B2B Conversions Using Programmatic ABM

Account based marketing (ABM) is a focused strategy that blends sales and marketing efforts to reach high potential B2B customers. However, many brands struggle with achieving the level of personalization and automation needed for effective ABM at scale. Thankfully, there is a solution: programmatic ABM. Using automated buying tactics, brands can serve targeted ads to thousands of highly segmented B2B consumers within target organizations using technology and data for personalization. 

Why ABM?

B2B marketing has historically emphasized quantity of leads generated first (Marketing Qualified Leads), with quality to follow (Sales Qualified Leads). Unfortunately, this method has led to 79% of leads never becoming customers, not to mention wasted media dollars. The account-based approach instead focuses on decision makers in target companies rather than mass outreach. By doing this prequalification, the sales funnel becomes shorter and every customer touchpoint is more intentional and personalized. This is why 77% of marketers believe ABM is their top driver of sales and marketing success. 

Zeroing In On the Target

Emarketer data shows that one key barrier to successful ABM is the inability to efficiently and effectively personalize marketing at scale.  We know this is a critical issue to solve as, 40% of company executives in e-commerce report that personalization directly affects their sales and company revenues.” Once you have your ideal customer profile nailed down, how can you make sure you are reaching these individuals?  Can you reach them at scale, with personalization and within your given budget? Here’s where programmatic activation comes in.

Programmatic ABM: Enabled by Technology

Programmatic advertising automates the ad buying process. Just because you are targeting individual business accounts, you don’t have to have massive teams calling or emailing accounts one by one to succeed. With proper campaign segmentation, you can tailor ads to feel highly specific and relevant to individuals within these companies. AI-powered creative learning takes this one step further by determining which combination of imagery and copy will be most effective for different audience segments and adjusting in real time. Programmatic and AI also allow agility and flexibility across channels. You can take a social ad and run it on digital or test a top performing display video on CTV – all while being confident your media spend is serving ads to real, qualified decision makers. 

Activation: First-Party First

When available, campaigns should start with leveraging your existing CRM data. Activate against this high value pool of leads who have already shared their information with you via content downloads, newsletter sign-ups, or other acquisition activities. Carefully segment these individuals so you can serve highly relevant and personalized ads to them based on their industry, level of seniority, interests, geography, etc. Work with a programmatic agency to activate these segments across various digital channels and media publishers. Track user behavior and data trends, then use AI tools to create lookalike audiences to expand the targeting pool.

To expand further, strategically incorporate third party data. Various data partners can be tapped to reach decision makers across digital channels. Keep in mind that with third party data in particular, it is important to have a smart targeting strategy. 

Start by refining your audience. Yes, you want to achieve scale and pack the lead funnel for your sales force, but the way to do that effectively and efficiently is by ensuring you understand what the ideal customer looks like. Your cost per lead may be higher when you narrow the targeting parameters, but you can expect a greater return by reaching audiences with the highest potential lifetime value and reducing wasted hours sifting through unqualified leads. Layer your targeting with firmographic, job title, and seniority parameters that indicate a high potential account. Look at your best customers  – what do they have in common? Segment your target personas into specific buckets so you can tailor your creative and messaging accordingly – adding the personalization now expected by B2B buyers.

Some targeting tactics for B2B accounts to consider are: 

  • Intent targeting to identify individuals and organizations who are actively searching for a particular topic or solution
  • NAICS job title targeting to reach specific job titles or organizations 
  • IP/Geo-Targeting to target specific business locations or industry events
  • Social targeting by skill/title/industry/location across platforms

Using programmatic activation with a digital partner allows brands to reach these highly sought after audiences with efficiency of both budget and time. 

B2B Channel Strategy: Time to Diversify?

Companies are placing the highest investment for their ABM strategies into digital, with the majority of spend occurring on social media, paid search and e-newsletters. These are all key ways to reach buyers, however, other channels such as programmatic display, CTV and audio are gaining more share of wallet year over year. Consider some of these more untapped spaces to allow your brand voice to be heard without competing with the noise. 

When choosing your channel strategy, don’t put all your efforts into one high-performing channel, such as LinkedIn. Instead, activate ads across a variety of channels based on the media consumption habits of your target audience and other behavioral insights. Use data-informed programmatic placements to meet the audience wherever they are active online.

To determine the best channel mix, it’s critical to build a cycle of testing and learning into your measurement strategy. This enables ongoing learning and optimization to improve the lead nurturing process by identifying what is working and what isn’t. Ask questions and test various tactics to find answers so your brand avoids stagnancy and reduced efficiency in the sales cycle.

Key Takeaways

  • Account-based marketing doesn’t have to be tedious. Taking a programmatic approach enables efficiency and scale for brands with large target account pools.
  • Refine targeting criteria and segment key audience groups to personalize creative accordingly. 
  • Capitalize on your first party data, then expand reach with high quality third party data to reach verified decision makers.
  • B2B brands can benefit from an omni-channel media approach and .considering non-traditional B2B media placements

Start reaching hundreds to thousands of B2B leads today by working with Coegi to build a programmatic ABM strategy. Contact us at info@coegipartners.com to schedule a discovery call today. 

Digital Guide to Navigating Healthcare and Pharmaceutical Marketing

Healthcare and pharmaceutical marketing is a complex landscape. A long-standing emphasis on in-person rep sales and difficult to navigate privacy laws have made the industry slower to adopt new marketing technologies and trends relative to other industries. 

This guide aims to debunk the uncertainty surrounding healthcare and pharmaceutical marketing best practices and provide a clear roadmap to creating a best-in-class digital strategy for your brand or the brands you partner with. 

Download Coegi's Healthcare White Paper

"*" indicates required fields

Name
This field is for validation purposes and should be left unchanged.

Digital Trends for 2022 – What You Need to Know

In the past two years, there have been significant shifts in the marketing and advertising landscape. From COVID-19 to privacy changes to evolving and growing social media channels, there is a lot to keep track of (and look forward to) in 2022. We asked the Coegi Account Strategy team what they predict will be trending in 2022. The following playbook uncovers seven of the top trends they predict for digital media.

  1. Pandemic-Driven Shift to Digital
  2. Cookie-less Future Preparation
  3. Updates to Privacy Policies
  4. Demand for Performance-Based Marketing Strategy
  5. Need for Audience Testing
  6. Evolving Creative Messaging
  7. Shrinking of the Sales Funnel

Download the full guide here to learn more about what to anticipate for 2022!

Automated Content Recognition 101

While automated content recognition (ACR) may not be new, it is becoming more widely incorporated into digital marketing strategies. As the number of consumers using smart TVs continues to grow, marketers need to fully understand what ACR is, as well as all of the different capabilities it can bring to current or future campaigns. 

What is ACR?

ACR is a way in which content is captured and identified. It can be captured across all types of TV viewing: linear, video on demand, OTT, commercials and video games. The data received provides valuable consumer insights that allows advertisers to target niche audiences, create a better experience and drive more conversions.

How Does ACR Work?

ACR technology utilizes audio, video, or watermark cues to recognize TV content, and is then marched to a source database for reference. ACR data captures key consumer behaviors associated with TV viewership, like what content is being streamed, time-shifting, and ad-skipping. Beyond that, it can also provide insights on cord-cutting and binge-watching. 

Audio Fingerprinting

 Data is collected from connected devices through audio. In order to accomplish this, the app must be running and the user has to opt-in to data collections, which can cause the results to be limited and have gaps in data metrics. 

Video Fingerprinting

Data is collected directly from the user’s connected TV through visual or video capture information. It can capture all content that passes through the TV and, unlike audio, only requires that the TV be on and the user to opt-in to data collection.

Watermark Fingerprinting

Data is collected using digital tags placed before distribution. Owners then can use the tags to track how their content is being used.

How Can You Utilize ACR?

The data ACR provides empowers marketers to better understand and reach their unique audience, as well as customize a message that will resonate with them. Utilizing ACR also strengthens the way in which TV and digital advertising work together, providing more opportunities for second-screen advertising which results in additional OTT marketing capabilities.

Here are four ways ACR can be utilized in campaigns:

  • Content Identification: Identifying what content is being viewed
  • Content Enhancement: An interactive tool that triggers complementary content based on what the viewer is watching. This can be utilized on a second screen and can be formatted in various ways, such as trivia, polls, coupons or interactive forms.
  • Broadcast Monitoring: Provides data and when and where viewers are playing content. This tool allows advertisers to track the journey of their content.
  • Audience Measurement: Allows industry leaders to assess who is watching content in real-time, which is essential for ad pricing.

The ways in which viewers consume TV has drastically changed (and continues to change even still), but the overall love of programming has remained. Implementing data-driven tactics like ACR gives marketers access to higher quality ad space. 

Creating Strategic Opportunities with Connected Television Advertising

Connected TV has officially met the reach of broadcast television. Streaming and connected TV devices exploded in 2020 as more consumers stayed home and cut the cord. As of 2021, there were just shy of 214 million connected television users, and that number is projected to increase to 230 million by 2025. In order to get full reach, brands cannot rest on just linear television buys alone – they must also lean into connected television.

In tandem with the upcoming deprecation of the third-party cookie, there is a substantial opportunity for marketers to better reach consumers through this premium medium. However, it is critical to approach connected TV strategically, to connect with your broader business goals in order to achieve the best return on your investment. 

Here are some connected TV strategic recommendations that Coegi leans on to create optimal user experiences for our brands:

Balance Audience and Contextual Targeting

The best thing about connected television compared to traditional television is that marketers are able to offer more customized targeting approaches beyond generic demographics and gross rating points. Instead, we are able to take it several steps further by having targeted reach and frequency in an environment where consumers tend to watch 90%+ of the video ad to completion. When analyzing how to reap the most success from targeting, it is important to balance both audience and contextual targeting. Audience targeting offers a lot of benefits in drilling down to behaviors, interests, purchase history, among other characteristics. However, because televisions and the relevant devices are most often shared across entire households, you cannot always be sure that the person who you are trying to reach is always the one in front of the screen. Furthermore, as third-party cookies become a thing of the past, pixel and cookie-based, probabilistic audiences will lose their potency and fade away from marketing tactics.

Knowing this contextual targeting on connected TV is going to become increasingly valuable. While programmatically bought connected TV ad placements aren’t able to target down to the program level, we are able to achieve scale by targeting specific networks, content genre categories and major live events (i.e. the Superbowl, the Oscars, etc.). Knowing your brand and how your preferred audiences index against specific television content is likely to become essential as you look toward the future of connected TV strategies. While these types of premium placements are often more expensive with CPMs often ranging between $40-50, it is critical to communicate the value of having brands’ content run alongside highly recognizable content, elevating the trustworthiness for newer brands and energizing excitement around existing brands. 

Take Advantage of Automatic Content Recognition (ACR)

Linear television continues to be a successful medium for many brands due to the cost efficiencies associated with the buy. However, they are certainly not reaching 100% of their target audience through this channel. In order to have greater reach, utilize linear extension through connected TV to reach other consumers in your target market who have not been exposed to your ad through linear television. Another option is to reinforce reach and frequency by retargeting those who were previously exposed on linear television on a connected tv device. 

Furthermore, ACR offers a great opportunity to have a new way to competitive conquest. You can serve connected TV ads to consumers who have watched your competitors’ commercials, giving an opportunity to gain greater awareness against a broader audience and potentially gain some untapped market share.

Understand Where the Greatest Areas of Opportunity Exist – Omni-Channel

 As with any omni-channel marketing strategy, it is important to consider how your target market tends to engage with media and where they tend to spend the majority of their time. Currently, the greatest volume of users fall between ages 25-44. However, due to the brand safety associated with the channel, it is possible for marketers to safely reach younger audiences as well. Beyond this, there is a word of mouth element to connected TV. Inmar Intelligence reports that Unruly found that “compared to linear TV viewers, ad-supported CTV users are 71% more likely to tell a friend about a brand, 53% more likely to search for a brand and 52% more likely to buy a product…”

Furthermore, this can be done effectively by taking more of an omni-channel approach to the CTV world and following the consumer wherever they are watching television.

Some marketers have become concerned by the fragmentation of connected TV – there are now so many streaming services that it feels challenging to unify the experience. In the interim, consider having a presence beyond the Hulu’s of the world and also tap into the connected TV walled gardens of Amazon Prime and YouTube TV to extend reach, have more of a holistic approach to the opportunity across the consumer base, and unify measurement accordingly. While these are our recommendations today, we are also aware that digital media and trends are changing at a rapid pace. Chief Strategy Officer at LiveRamp, Jay Prasad, recently said in a recent webinar: “Yesterday’s strategies weren’t built for today’s media.”

Measure Performance – Weighing Environment and Reach

Ads on streaming platforms tend to have really strong video completion rates, typically exceeding 90% but often reaching closer 97-99%. This makes the placement very valuable for brands who understand the power of storytelling. But how do brands evaluate success? Unique reach is certainly one metric to consider – how do I get my message in front of a lot of people and achieve broader awareness goals? However, it is important to also consider what placements are going to elevate your brand’s position. Some networks and programming opportunities are more costly than others, but also have powerful engagement (supplementing your local TV buy on the night of the Oscars with a presence on streaming devices watching). Overall, connected TV adds value through brands’ ability to evaluate performance against qualified audiences, reducing waste and allowing opportunities for optimization. It’s not just about reach and frequency on connected tv – it’s about targeted reach and frequency, placing dollars where there is minimal waste and greatest opportunity. 

Furthermore, for brands who really want to go the extra mile, advanced measurement tactics such as brand lift and foot traffic studies can be layered on to gain additional learnings beyond media metrics.

The biggest takeaway?

Connected television is relevant and pertinent to every brand across every industry – its power cannot be underestimated. That being said, it is important to remain agile in your approach to connected TV and be prepared to shift strategies in order to stay ahead of the curve and improve performance results.

3 Reasons Podcast Advertising Could Boost Your Marketing Strategy in 2022

Connected TV has officially met the reach of broadcast television. Streaming and connected TV devices exploded in 2020 as more consumers stayed home and cut the cord. As of 2021, there were just shy of 214 million connected television users, and that number is projected to increase to 230 million by 2025. In order to get full reach, brands cannot rest on just linear television buys alone – they must also lean into connected television.

In tandem with the upcoming deprecation of the third-party cookie, there is a substantial opportunity for marketers to better reach consumers through this premium medium. However, it is critical to approach connected TV strategically, to connect with your broader business goals in order to achieve the best return on your investment. 

Here are some connected TV strategic recommendations that Coegi leans on to create optimal user experiences for our brands:

Balance Audience and Contextual Targeting

The best thing about connected television compared to traditional television is that marketers are able to offer more customized targeting approaches beyond generic demographics and gross rating points. Instead, we are able to take it several steps further by having targeted reach and frequency in an environment where consumers tend to watch 90%+ of the video ad to completion. When analyzing how to reap the most success from targeting, it is important to balance both audience and contextual targeting. Audience targeting offers a lot of benefits in drilling down to behaviors, interests, purchase history, among other characteristics. However, because televisions and the relevant devices are most often shared across entire households, you cannot always be sure that the person who you are trying to reach is always the one in front of the screen. Furthermore, as third-party cookies become a thing of the past, pixel and cookie-based, probabilistic audiences will lose their potency and fade away from marketing tactics.

Knowing this contextual targeting on connected TV is going to become increasingly valuable. While programmatically bought connected TV ad placements aren’t able to target down to the program level, we are able to achieve scale by targeting specific networks, content genre categories and major live events (i.e. the Superbowl, the Oscars, etc.). Knowing your brand and how your preferred audiences index against specific television content is likely to become essential as you look toward the future of connected TV strategies. While these types of premium placements are often more expensive with CPMs often ranging between $40-50, it is critical to communicate the value of having brands’ content run alongside highly recognizable content, elevating the trustworthiness for newer brands and energizing excitement around existing brands. 

Take Advantage of Automatic Content Recognition (ACR)

Linear television continues to be a successful medium for many brands due to the cost efficiencies associated with the buy. However, they are certainly not reaching 100% of their target audience through this channel. In order to have greater reach, utilize linear extension through connected TV to reach other consumers in your target market who have not been exposed to your ad through linear television. Another option is to reinforce reach and frequency by retargeting those who were previously exposed on linear television on a connected tv device. 

Furthermore, ACR offers a great opportunity to have a new way to competitive conquest. You can serve connected TV ads to consumers who have watched your competitors’ commercials, giving an opportunity to gain greater awareness against a broader audience and potentially gain some untapped market share.

Understand Where the Greatest Areas of Opportunity Exist – Omni-Channel

 As with any omni-channel marketing strategy, it is important to consider how your target market tends to engage with media and where they tend to spend the majority of their time. Currently, the greatest volume of users fall between ages 25-44. However, due to the brand safety associated with the channel, it is possible for marketers to safely reach younger audiences as well. Beyond this, there is a word of mouth element to connected TV. Inmar Intelligence reports that Unruly found that “compared to linear TV viewers, ad-supported CTV users are 71% more likely to tell a friend about a brand, 53% more likely to search for a brand and 52% more likely to buy a product…”

Furthermore, this can be done effectively by taking more of an omni-channel approach to the CTV world and following the consumer wherever they are watching television.

Some marketers have become concerned by the fragmentation of connected TV – there are now so many streaming services that it feels challenging to unify the experience. In the interim, consider having a presence beyond the Hulu’s of the world and also tap into the connected TV walled gardens of Amazon Prime and YouTube TV to extend reach, have more of a holistic approach to the opportunity across the consumer base, and unify measurement accordingly. While these are our recommendations today, we are also aware that digital media and trends are changing at a rapid pace. Chief Strategy Officer at LiveRamp, Jay Prasad, recently said in a recent webinar: “Yesterday’s strategies weren’t built for today’s media.”

Measure Performance – Weighing Environment and Reach

Ads on streaming platforms tend to have really strong video completion rates, typically exceeding 90% but often reaching closer 97-99%. This makes the placement very valuable for brands who understand the power of storytelling. But how do brands evaluate success? Unique reach is certainly one metric to consider – how do I get my message in front of a lot of people and achieve broader awareness goals? However, it is important to also consider what placements are going to elevate your brand’s position. Some networks and programming opportunities are more costly than others, but also have powerful engagement (supplementing your local TV buy on the night of the Oscars with a presence on streaming devices watching). Overall, connected TV adds value through brands’ ability to evaluate performance against qualified audiences, reducing waste and allowing opportunities for optimization. It’s not just about reach and frequency on connected tv – it’s about targeted reach and frequency, placing dollars where there is minimal waste and greatest opportunity. 

Furthermore, for brands who really want to go the extra mile, advanced measurement tactics such as brand lift and foot traffic studies can be layered on to gain additional learnings beyond media metrics.

Reason #1: The audiences are there…and growing

It is estimated that 120 million Americans listened to podcasts in 2021, with a projected growth to 160 million listeners in 2023. Despite a short flatline in listenership in 2020 due to shortened or non-existant commutes (a highly-popular listening time for the avid podcaster), podcast engagement increased notably this year with no signs of slowing down. Furthermore, according to a survey done by NCS Solutions, 88% of current listeners maintained or increased their listening time over the past year. This increase can be attributed to several factors including the return of standard commuting time, increased word of mouth recommendations from avid listeners, new shows being developed for specific niche audiences, and an influx of influencers, celebrities and brands developing their own shows to flesh out revenue streams and reach their audiences in a new way.

With this growth trajectory, it is no surprise that advertisers are increasing investment in this lucrative channel. According to IAB, podcast ad revenue in the US increased by 19% in 2020 and is predicted to exceed $3B by 2023. These numbers clearly indicate that brands are seeing success with this tactic and competition for reaching these audiences will continue to build over time. Jumping into the pool of opportunity now will allow you to expand your reach and effectiveness alongside the growing medium itself.

Reason #2: More options and flexibility

Podcasts have held the attention of highly-engaged, niche audiences for years. Historically, due to limitations in technology, the only option for brands to advertise in this space was to purchase expensive, inflexible and hard-to-measure direct buys negotiated with the shows themselves. In recent years, however, the growing popularity of podcasts has created a demand for an updated, more flexible and measurable system for reaching these audiences.

The industry recognized this opportunity and began developing alternative ways to monetize it. The result? A programmatic option called dynamic ad insertion (DAI) has now entered the market, making it easier and more affordable to incorporate this tactic into your media mix.

This biddable technology allows for new audience targeting options, including listening habits, geographic region and weather conditions. Due to the nature of podcasting and the recency of programmatic technology in this space, the current options for targeted demographics are somewhat limited. However, as the technology continues to develop, there will likely be more targeting options on the horizon and therefore should not keep you from investigating this tactic as an option for your strategy.

Reason #3: Listeners are ad-friendly

Not only are the audiences growing, they are receptive and responsive to the ads they hear while listening. A recent study on podcast “super listeners” discovered that 48% of listeners pay more attention to podcast ads than any other media and that 71% of those surveyed say they never, rarely, or only sometimes skip the ads they hear while listening. The study also found 54% of respondents are more likely to purchase a product after hearing an ad for it on a podcast, up from 46% in 2019.

There are a few surface-level reasons for this acceptance. Firstly, most podcasting platforms are free to use and audiences understand they trade the ad for the content. There is also the fact that most listeners tune in while doing other activities – driving, cleaning their house, walking their dog, etc. Their hands are not free to access their phones during these activities and therefore they are more likely to listen through the ad, unlike many other ad formats that are easy to scroll by or tap the skip button.

The primary reason audiences are receptive and responsive to podcast advertising, however, is trust and authenticity. Listeners often feel like the host is directly speaking to them and, before the introduction of DAIs, all ads on podcasts were read by those hosts. Because podcasts tend to attract highly engaged, niche audiences, the hosts became their own breed of influencer, making trusted recommendations to their highly connected listeners. This has set the stage for advertising to natively work its way into the expected user experience. Host-read spots are still the most highly trusted advertising spot in podcasting, but they have conditioned podcast listeners in general to be more receptive to advertising.

Recommendations

With the growing audience sizes, ad-friendly listener behavior and advancing technology options, reaching your ideal audience in the podcast space has become easier than ever. However, the unique channel constraints may require different strategies than what is successful for your brand on other channels. Here are a few recommendations for how to get started:

  1. Be creative with your targeting strategy. With limited out-of-box options for DAI placements, hyper-targeting will likely lead to overly expensive and minimal scale results. Instead, research the audiences that are already listening to podcasts and find a happy medium between niche and broad targeting options. What podcasts would your target audience be listening to and engaging with? Use interest and affinity-based audience insights to inform your targeting strategy.
  2. Consider the user experience when creating ad content. Like with all advertising mediums, your ad will perform better if it blends into the user experience of those being exposed to your ad. Since podcast listeners are used to more conversational, one-on-one listening experience, ads that feel more organic, informal and relatable are more likely to keep the listener engaged with the ad.
  3. Experiment with programmatic and traditional direct-buy placements. If there is a podcast whose audience perfectly aligns with your target audience, it may be worth the direct ad buy. But also experiment with more flexible DAI purchases to find the most successful shows and targeting combinations for your brand.
  4. Stay on top of technology developments. As more opportunities become available, being well-practiced in these platforms will allow you to take advantage of the high value podcast audiences before your competitors.

Why Short-Form Video is Critical for Your Brand’s Success

Not new, but increasingly important.

While short-form videos are not a new tactic, they are becoming increasingly important for brands to include in their strategy and marketing tactics. Online video consumption has been growing steadily year over year but was propelled by coronavirus and lockdowns. It is predicted that in 2021, the average person will spend 100 minutes per day watching online videos.

As TikTok continues to dominate the social media landscape, other social media platforms have shifted to create similar features in order to keep users on their platform. Instagram is a prime example of this with its creation of Reels, a veritable clone of TikTok. The company also announced this year that they are “ no longer a photo-sharing app or a square photo-sharing app” and are pivoting to full-screen video, among other things.

Short-form videos are what consumers want to watch – whether on TikTok, Instagram Reels, YouTube Shorts, or Snapchat Spotlight. The social media giants know this and have shifted their algorithms to prioritize users who utilize these features.

Each social media platform has different placement options and nuances.

Whether you’re using video on organic or paid social media, short-form video increasingly wins the day. One study found that attention spans last an average of eight seconds, so getting your brand and message across in an “elevator pitch” increasingly is becoming the norm. Seventy-three percent of people want to see “entertaining” videos on social media so your content needs to hook consumers immediately.

Reason #1: The audiences are there…and growing

It is estimated that 120 million Americans listened to podcasts in 2021, with a projected growth to 160 million listeners in 2023. Despite a short flatline in listenership in 2020 due to shortened or non-existant commutes (a highly-popular listening time for the avid podcaster), podcast engagement increased notably this year with no signs of slowing down. Furthermore, according to a survey done by NCS Solutions, 88% of current listeners maintained or increased their listening time over the past year. This increase can be attributed to several factors including the return of standard commuting time, increased word of mouth recommendations from avid listeners, new shows being developed for specific niche audiences, and an influx of influencers, celebrities and brands developing their own shows to flesh out revenue streams and reach their audiences in a new way.

With this growth trajectory, it is no surprise that advertisers are increasing investment in this lucrative channel. According to IAB, podcast ad revenue in the US increased by 19% in 2020 and is predicted to exceed $3B by 2023. These numbers clearly indicate that brands are seeing success with this tactic and competition for reaching these audiences will continue to build over time. Jumping into the pool of opportunity now will allow you to expand your reach and effectiveness alongside the growing medium itself.

3 Key Elements for Better Performing Video Content

“Humans are incredibly visual and powerful, moving images help us find meaning…video helps capture and contextualize the world around us.”

– Dan Patterson, Digital Platform Manager for ABC News Radio

Digital video consumption is on the rise and forecasted to reach $12.66B by 2024. How are marketers adapting to changing consumer trends? Recent studies show that the increased ad spend towards digital is a worthy investment as video is the #1 preferred content form to see from brands on social media. Additionally, video has major down funnel implications with 71% of consumers who report purchasing a product or service after watching a brand’s video.

Compiling a quick video and using it across all channels, however, is not a strategy that drives results for businesses. Doing so without considering where and how long you have your audiences’ attention could mean you are wasting the resources and budget you have dedicated to this highly effective medium. Your video content must be intentional, authentic, and targeted to resonate with your audience.

So what goes into the best-performing video content? Here is a breakdown of our top strategies for getting the greatest exposure and driving the highest conversions with your digital video marketing and advertising content.

 

Time is money

With the recent popularity of short-form video platforms and formats like TikTok and Instagram Stories, expectations of and conversions from short-form video are now outperforming longer-form video. Brands have mere seconds to capture their audiences’ ever-shortening attention. According to a report by Analytic Partners, this shift has translated into much higher ROI for 6-second videos (127%) than it does 30-second videos (58%).

 

 

Reason #1: The audiences are there…and growing

It is estimated that 120 million Americans listened to podcasts in 2021, with a projected growth to 160 million listeners in 2023. Despite a short flatline in listenership in 2020 due to shortened or non-existant commutes (a highly-popular listening time for the avid podcaster), podcast engagement increased notably this year with no signs of slowing down. Furthermore, according to a survey done by NCS Solutions, 88% of current listeners maintained or increased their listening time over the past year. This increase can be attributed to several factors including the return of standard commuting time, increased word of mouth recommendations from avid listeners, new shows being developed for specific niche audiences, and an influx of influencers, celebrities and brands developing their own shows to flesh out revenue streams and reach their audiences in a new way.

With this growth trajectory, it is no surprise that advertisers are increasing investment in this lucrative channel. According to IAB, podcast ad revenue in the US increased by 19% in 2020 and is predicted to exceed $3B by 2023. These numbers clearly indicate that brands are seeing success with this tactic and competition for reaching these audiences will continue to build over time. Jumping into the pool of opportunity now will allow you to expand your reach and effectiveness alongside the growing medium itself.

Connected TV: A New Frontier for Targeted Healthcare Marketing

In the ever-evolving world of digital advertising, marketers are constantly looking for the next opportunity and channel. Connected TV, in particular, is quickly gaining traction with a 49.5% increase in ad spend from 2020 to 2021. Here are a few reasons why:

  • Incremental reach
  • Segmentation & targeting
  • Positive consumer experience
  • Cost efficiency
  • High consumer engagement
  • Proven ROI & measurable outcomes 

Large entertainment and retail brands have been quick to implement CTV into their marketing plans. However, the pharmaceutical and healthcare sectors have been slower to adopt. This leaves a huge opportunity for brands to pave the way in an unsaturated and underutilized space. 

Reach Niche Healthcare Segments

Traditionally, linear TV has been a core method used to reach broad healthcare audiences, often with a “spray and pray” approach. By using 3rd-party data partners, such as PulsePoint, advertisers can identify highly specific and reliable healthcare patient and provider audiences while maintaining HIPAA compliance. One to one consumer matching is overlaid on top of CTV buys driving campaigns directly to the core audience. For niche consumer demographics, this audience-first approach reaches high-value, addressable segments without overspending on mass media buys.  The content relevancy then enhances the user experience by serving relevant content in an engaging, large screen format.

Build Incremental Reach Across Media Channels

High quality, long-form video content is the memorable media needed to engage pharmaceutical audiences. However, consumers are fragmented across various screens and platforms. Programmatic CTV allows health and pharma brands to reach audiences across channels, staying top of mind and driving incremental reach. CTV bundled with linear TV and other digital programmatic buys work together to reach unique audiences as well as meet consumers across channels in a non-invasive way. Cross-channel integration platforms, such as The Trade Desk, can ensure you are reaching the right audience with the appropriate frequency, avoiding any siloes or ad fatigue. 

Drive Health-Focused Outcomes with Measurable Results 

At Coegi, data is the core of what we do. CTV brings that data-driven aspect to the former wild, wild west of television advertising. One of our subject matter experts in the healthcare and pharma space, Colin Duft, stated, “CTV is an untapped space eliminating barriers from a cost to market perspective. TV is now an accessible market for pharmaceutical players.”  With CTV measurement capabilities, advertisers can now validate this channel and pull detailed insights on campaign impacts. There is a greater ability to connect TV campaign results to business goals and outcomes. 

HIPAA Compliant Targeting & Consumer Trust

Healthcare advertisers are often deterred by privacy laws and concerns when it comes to targeting individuals or sensitive patient sectors. However, consumers are becoming more open and are even expecting personalization from brands. A recent study showed that after direct mail, TV and radio ads are the most highly trusted media formats for advertising.  A TV ad for a specific health condition can feel less invasive, yet still applicable and relevant.  With third-party data partners, personal information can be de-identified and used for HIPAA compliant targeting. As an additional resource, the NAI provides a guide to help determine whether targeting efforts or data segments are considered sensitive: https://www.networkadvertising.org/sites/default/files/nai_healthtargeting2020.pdf   

Implications for Healthcare Brands

  • The time is now for CTV 
    • This is an opportune time for health-focused brands to capitalize on the CTV space. Users are cutting the cord, building an increasing demographic of users that can only be reached through streaming TV. 
  • Precision buying optimizes TV ad budgets
    • Bulk linear buys can be replaced with efficiently targeted ad placements. 
  • Measurable results empower brands
    • Advanced demographic information and data can be gathered from CTV ads to optimize campaigns, creatives, and audience sectors giving brands actionable insights.

Written By: Colin Duft, Account Strategy Director

Reaching Your Audience Through Television

Television has long been a desirable medium for brands to have extensive reach across their audiences, building awareness and increasing share of voice. It continues to be very powerful with over 245 million TV viewers in the U.S. according to eMarketer who watch live or recorded video on a set. However, the television landscape has seen many shifts in the last few years in particular, as consumers share their time between linear and streaming services, in addition to other forms of digital video on social platforms. Today, there are over 213 million connected TV viewers in the U.S., and it’s poised to continuously grow to over 230 million ahead of 2025. As a result, Marketers need to be planning their television buys with a holistic approach, understanding that the only way to have comprehensive audience reach is to tap into both linear and connected television channels and using a measurement partner to understand impact and incrementality. 

Why Neither Linear Nor Connected Television Can Be Ignored

According to The Trade Desk’s “Future of TV” report, 47% of U.S. TV viewers are already cordless and another 42% plan to “cut the cord” or minimize traditional television spend within the year. That being said, the scale that continues to be achievable on linear definitely makes it a channel that should continue to be leveraged. There are always going to be some consumers who choose to exclusively view on linear, as well as consumers who exclusively use streaming. This means that both channels must be incorporated into media plans to ensure you are reaching your target audience in a non-skippable environment where your brand message is showcased.

Another major reason that brands who have traditionally used linear television are now looking more heavily into connected tv is due to the incrementality. In fact, according to eMarketer this is the second most common reason that this tactic is deployed apart from targeting capabilities. This approach has worked well for many brands, including Hershey who saw the consumer trends and understood the need to act. This extends beyond Amazon to other OTT/CTV like Hulu, Roku, Tubi, Discovery+, and more.

How Can We Evaluate Success on Cross-Channel TV

There are measurement partners in the space that are able to go beyond number of impressions or gross ratings points to understand how television advertisements are impacting the bottom line. This can be achieved through tools such as lift studies that can interpret lift overall brand awareness and as well lift in conversions, whether that is site visitation or actual purchases. In the world of the pending deprecation of third-party cookies and iOS 15, attributing business results to media channels is going to become more challenging. Fortunately, television is not dependent on cookies and is poised to become an even more valuable channel for marketers to lean into.

/ Contact

Tell us about your project

contact form image