It is no secret that the amount of households cutting the cable cord is growing by the day. Users now, more than ever, have a plethora of choices at their fingertips with options like skinny bundles using non-traditional cable services, direct-to-consumer apps, various pricing options to consume their favorite shows across a multitude of apps, Connected TV devices and mobile devices. These options are influencing broadcasters to evolve their offerings to meet the ever-changing needs of their audiences.
Staying afloat if you’re a linear broadcaster in times like this can be challenging and frustrating, as there are many obstacles to overcome. These hurdles present themselves not only in a singular sense but technology will continue to develop, getting faster, smarter and more personalized. If you can’t roll with the punches, you will get left behind.
In a recent research report published by Google, broadcasters, brands and agencies were interviewed about keeping up with the Connected TV trend, from both a broadcast and advertising perspective. The study concluded a few key findings including:
- These key challenges identified should be where broadcasters are to focus their effort, time and money going forward – revenue models, technology and operational alignment.
- Broadcasters are most prepared for the future when it comes to technology and infrastructure.
- Broadcasters are least prepared for the future when it comes to managing inventory sales. Needing to modernize their infrastructure and sales systems to adapt to a more one-to-one approach with Connected TV advertising.
Not only did the study find that there are gaps from a broadcasting and agency perspective, but the convergence of the two working in tandem to devise and implement a successful Connected TV campaign working in conjunction with an existing marketing plan is at play. “As one broadcaster put it, ‘Not even the agencies are ready. They have different teams. They have a TV team and a digital team which speak different languages and have different skills. They don’t know how to communicate well and use different units of measurement and value.’”
There needs to be a mindset shift from TV and digital being separate cost centers to them being a convergence point in a fully scoped marketing plan. Achieving this isn’t just shifting dollars from linear to digital, but diversifying advertising channels using consistent messaging and creative.
Working in silos, both internally and with outside partners, can be a major obstacle in the process of integrating CTV advertising into your marketing strategy. Broadcasters are increasingly looking for other companies to align with on modernizing what has always worked for them. Whether it’s arming your brand with training and resources, helping to create and launch a fully integrated digital (yes, that includes linear tv) plan or anything in-between, programmatic partnerships can help safeguard this confusing process. We can be that partner, to help navigate the waves Connected TV has caused in the broadcasting and linear television world.