Innovid's inaugural CPG report reveals the
power of CTV for brands in reaching and engaging global
audiences
NEW
YORK, Sept. 22, 2022 /PRNewswire/ -- Innovid
(NYSE: CTV), an independent advertising platform for delivery,
personalization and measurement of converged TV, today announced
findings from its first-ever deep dive consumer packaged goods
(CPG) report, examining critical trends, challenges, and
opportunities in the video advertising industry. The report reveals
that, amongst CPG advertisers, connected television (CTV) devices
account for over half of all video ad impressions (52%) – up from
44% previously – overtaking both mobile (37%) and desktop
(11%).
"Consumer behavior is changing at an unprecedented speed, and
the rise in ecommerce has compelled CPG brands to reimagine their
digital advertising strategy," said Stephanie Geno, CMO, Innovid. "To meet
consumers' evolving shopping habits and build brand loyalty, CPG
brands have turned to CTV for its ability to reach consumers with
personalized, cutting-edge advertising formats in a largely
unsaturated space."
Key takeaways from the report for CPG
marketers to consider include:
- Seize the CTV Opportunity
-
- CPG's video impression share for CTV was 52%, up from 44%.
- Pet supply brands lead CTV impression share with 70%, followed
by household cleaning and beauty (both at 62%), food (61%),
household goods (60%), beverages (42%), personal care (40%),
alcoholic beverages (39%), and over the counter (28%).
- Boost Brand Loyalty with Advanced Creative
-
- Over half (53%) of all CPG CTV advertisers ran some kind of
advanced creative video (i.e. dynamic creatives and interactive
content).
- CPG brands using advanced dynamic creative optimization (DCO)
formats – a form of advertising technology that uses data to guide
and optimize creative elements and messages – saw a significantly
higher video completion rate (VCR), of 98.6% versus an average
93.9% completion rate for standard video.
- Reach More without Repeating More
-
- CPG brands advertising across more than 6 CTV publishers had a
duplication rate of just 18%.
- CPG campaigns reached just 12% (11.6%) of Innovid's 95 million
CTV households on average, indicating there's plenty of room for
growth.
"When maximizing reach, duplication is a justified concern for
marketers – an ad shown too many times can negatively impact the
consumer experience," continued Geno. "This is exactly where
unified ad delivery, personalization, and measurement through a
single independent platform is essential. There is a great deal of
unexplored runway here, and there are many more households to
reach. With the right tools, marketers can tap into those
audiences, broaden reach, and mitigate oversaturation."
The report analyzed more than 103 billion CPG video advertising
impressions served on Innovid's platform over a full year.
Researchers looked across CTV, mobile, and desktop devices,
examining performance across standard and advanced video to compile
a complete picture of CTV advertising benchmarks and insights
globally.
"As the worlds of digital and linear television converge, CPG
brands are realizing that CTV delivers the best of both worlds,"
added Geno. "It provides captivating sight, sound, and motion that
engages audiences, along with the targetability, interactivity, and
measurability that allows advertisers to increase the ROI of their
campaigns. We believe that CPG brands will continue increasing
their presence on CTV, as they are empowered with these experiences
and tools that can reinforce brand loyalty and attract new
customers–all from the comfort of their couch."
The full Innovid CPG Report is available here.
About Innovid
Innovid (NYSE: CTV) powers advertising delivery,
personalization, measurement and outcomes across linear, CTV and
digital for the world's largest brands. Through a global
infrastructure that enables cross-platform ad serving, data-driven
creative, and currency-grade measurement, Innovid offers its
clients always-on intelligence to optimize advertising investment
across channels, platforms, screens, and devices. Innovid is an
independent platform that leads the market in converged TV
innovation, through proprietary technology and exclusive
partnerships designed to reimagine TV advertising. Headquartered in
New York City, Innovid serves a
global client base through offices across the Americas,
Europe, and Asia Pacific. To learn more, visit
innovid.com or follow us on LinkedIn or Twitter.
Media:
Chris Harihar
Chris@crenshawcomm.com
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