A-Z of Addressable TV: G is for Growth
In the A-Z of Addressable TV series we will introduce some of the key terminology, technical aspects, and target audiences involved in addressable TV, and explain how they enable advertisers to discover and reach new audiences. From ‘addressable’ to ‘Gen Z,’ we’ve got you covered.
G is for Growth
What do we mean by growth in advertising?
Growth can be defined as a “stage or condition that is increasing, developing, or maturing.”
In advertising, it is a key end goal and motivator for any brand showcasing their product or services on TV. Measuring growth is at the heart of many industry KPIs, whether that is quantifying any increase in sales, developing brand awareness, or maturing target audiences and the brand itself.
Effective advertising allows growth to take place throughout the customer lifecycle – from the point a prospect is introduced to a product, to driving customers to make a purchase and retaining their interest as a long-term customer.
How does addressable TV support growth?
Brands benefit from a “halo effect” simply by being associated with, and advertising on, television because it remains a prestigious and trusted environment. This allows them to grow their audience and boost sales. However, TV advertising has traditionally been expensive and required large budgets to make an impact. Making it the domain of big-spending, big name brands.
Addressable TV allows businesses of all sizes and across any specialism to unlock the unique growth opportunities that come with advertising on TV, and across the modern multi-platform viewing experience. Brands can now deliver precision targeted ads across linear, on demand and live streaming TV environments (on the biggest screen in the house or on mobile and tablet devices).
They can grow awareness and sales among their target audience by using household-level data to create specific audience segments and ensure creative is only served to those people most likely to engage with it. Finecast’s addressable TV solution gives clients access to over 1,200 of these targeting segments – based on everything from transactional, location, and demographic data – to reach relevant, engaged viewers.
As well as letting brands advertise with confidence, addressable TV supports growth by reducing ad wastage and costs associated with more indiscriminate advertising. By being more cost effective and allowing brands to test and target more flexibly, it opens the door for companies who have never previously advertised on TV (or have not done so for some time) to grow brand recognition and reach on the platform.
For instance, a local travel company can cross-reference socio-economic and location data to identify an audience that spends big on holidays and deliver their adverts only to that group. Doing so puts their brand in front of the people that matter and increases the chance of converting views into sales because the brand is more likely to appeal to this group.
Let’s look at a real-world example…
Aperol, the Italian aperitif, wanted to grow their customer base and incremental sales revenue. To do so, they employed Finecast’s addressable TV solution to increase awareness and consideration among their target ‘Social Connectors’ and ‘Nectar Spirits’ audiences. Using transactional and point of sale data that was modelled to postcode level through a partnership with Nectar and powered by Liveramp, the activation delivered impressive results.
There was an indicative 5% increase in total spend vs. regions not exposed to Finecast activity (10% in the southeast region). Aperol also saw an 8%-point uplift in spontaneous brand awareness, 37%-point uplift in purchase intent, and 38%-point uplift in brand consideration among other brand health metrics.
Growth through television advertising is no longer out of reach for emerging or specialist brands, or brands without the budget to serve creative at peak times. Addressable TV opens the door for any brand – big or small, new or long-standing – to grow sales, audience, and reputation using the power of TV.
And with the accurate measurement capabilities that addressable TV provides, brands can analyse and evaluate the impact their campaigns have on their overall growth goals.
For more information on how addressable TV can work for you, get in touch via the form below. And catch up on the full A-Z series to date here.