The IAB Australia Video Council has released its Connected TV Handbook to assist marketers and agencies in better understanding the market. The Handbook, which was first published in 2020, has been updated to explore the opportunities for advertising through data and personalisation, provide a framework for measurement, outline planning considerations and elements of creativity, and also includes an update on IAB Tech Lab Standards and an introduction to the Advanced TV product roadmap.
The Handbook comes as CTV continues to play a leading role as an upper funnel platform for marketers, while also being used to bridge the gap between brand and performance marketing. For marketers, defining success metrics at each stage of the funnel, acknowledging the importance of consistent performance, and aligning with key performance indicators (KPIs) to measure and optimise campaign effectiveness will be important moving forward to ensure success.
“There have been significant developments across audience size, measurement capabilities, access to and use of data and interactive creative in the CTV space over the last four years. This handbook provides a compelling update for the industry and anyone seeking to use this powerful platform to reach audiences in 2024,” said Natlie Stanbury, IAB Australia director of research.
“I’m pleased to share with the market the 2024 Connected TV Handbook. There has been a lot of change in the four years since we released the original version, and the landscape has vastly evolved. Given the scale of investment that is, and will continue to be placed into video, understanding the capabilities and challenges Connected TV as a device poses to our industry is critically important. The Council have worked hard to capture all aspects of Connected TV, from technical to buy-side. I hope this provides an insightful and educational resource for the industry at large,” said Vikki Pearce, chair of IAB Australia Video Council and head of digital VIC/QLD at Zenith.
The Handbook provides five key takeaways for marketers to consider:
- Embrace Connected TV as a Full-Funnel Solution: Marketers should shift the legacy perception of Connected TV (CTV) as solely an upper-funnel platform and reposition it as a comprehensive full-funnel solution. This approach allows for a more holistic and effective strategy to leverage the strength of CTV across all stages of the marketing funnel.
- Define Success Metrics at Each Funnel Stage: Marketers need to define success metrics at each stage of the funnel, acknowledging the importance of consistent performance and aligning with key performance indicators (KPIs) to measure and optimise campaign effectiveness. This involves measuring advertising performance, highlighting the most relevant KPIs, goals, and targets.
- Utilise Various Measurement Techniques: Marketers should use various measurement techniques to understand the impact of marketing and advertising on brand objectives in the short and long term. Techniques such as brand lift studies, market mix modelling, and cross-media brand lift surveys are important for assessing advertising effectiveness.
- Implement Data-Driven and Personalised Advertising: Leveraging data and personalisation in CTV is crucial for marketers. They should source first-party data directly from users interacting with the CTV platform or from third-party data providers, and partner with data management platforms (DMPs) and content providers to enrich the data pool for personalised advertising experiences.
- Stay Informed About Technology Updates: Marketers need to stay informed about technology updates, such as OpenRTB 2.6 and its benefits for CTV, as well as advancements in ad formats and content signals for CTV supply. Understanding and leveraging these technological advancements can enhance the effectiveness of CTV advertising campaigns.
The Connected TV Handbook was prepared by IAB Australia Video Council members Samsung Ads, Teads, Paramount ANZ, Nine, SWM, The Trade Desk, Adobe, Google, Publica, Zenith, ZO along with IAB Australia tech lead, Jonas Jaanimagi and Stanbury.
According to the Ipsos iris Digital Landscape Report (March 2024), Australians 14+ claim to spend an average 18.7 hours watching free online TV (BVOD catch-up services such as 9Now, 7Plus), subscription TV (SVOD such as Netflix) or social media videos (such as YouTube, TikTok) per week on any device. While Australians use multiple devices to view online video content, the Connected TV is the most used device (in last 7 days) for watching free online TV and subscription streaming services, while the smartphone is the most used device for watching social media videos.
