Our very own Michelle Roe, Video Channel Manager recently spoke with our partners, Medicx Health on the future of this rapidly evolving landscape.
The video landscape is an evolving medium that is quickly adapting to its environment. Today, video exists in a variety of ways: Linear TV, Addressable TV (ATV), Connected TV (CTV), Over-the-Top (OTT), Online Video, and Social. Digging into the areas of growth we are expecting to see and why, as well as what other considerations or inventory are important to consider when planning a video campaign, Michelle shared the below insights.
Linear TV is still a multi-billion dollar channel for our advertisers and accounts for nearly 75% of the pharma industry advertising spend. However, as we think about TV today, we have to push ourselves and our clients to think about a holistic video strategy, inclusive of all types of video, not just the traditional way of thinking exclusively about Linear TV. With the ability to now guarantee campaigns of a strategic audience with Data Driven Linear TV, Linear TV does not need to be bought against a traditional demographic anymore. This is game changing and the way in which we are allocating clients’ video budgets is changing rapidly.
ATV has evolved the local approach to buying Linear TV. It enables customization at the household-level based on a brand’s strategic audience and/or creative messaging strategy. Data and media vendors continue to emerge and evolve to offer alternative, privacy-compliant solutions to the pharma industry. And in the end, the viewer is none the wiser as their viewing experience goes undisrupted. They would never know that their home received a different ad than their neighbor down the street.
CTV and OTT
CTV and OTT are the biggest disruptors amongst this tactic’s offering. While a very fragmented space, CTV and OTT are growing month-over-month, currently offering up over 228MM viewers–18% higher than that of the linear universe at 191MM and growing. The level of targeting available on CTV is similar to that of digital, leveraging a multitude of sources to identify and reach valuable viewers. With privacy-compliant practices in place, we can further enrich our targeting strategies to include patient-level targeting across our pharma campaigns.
Ongoing shifts in consumer behavior, along with technology advancements, and performance accountability will continue to build out this leading video channel.
Lastly, social platforms continue to evolve and focus on video as consumption habits change. Looking at growth for our brands means getting the right content, to the right people, at the right time. Active daily users continue to rise on video-centric platforms like Facebook, Instagram, TikTok, and Snapchat. As marketers, it’s important to reach our audiences where they are. What makes video on social a unique opportunity is the captivated viewership, capturing full undivided attention—something the other offerings cannot consistently do.
Each video tactic offers its own unique set of valuable attributes. It is critical to incorporate an inclusive video strategy that accounts for audience behavior, reach, flexibility, and accountability. Understanding the synergy between tactics across the holistic media plan by way of an omnichannel analysis will be essential for future optimizations. Want to learn more? Connect with our Video Team for more information!