Avoiding Holiday Hiccups for your TV/CTV Campaign
Although we may only be in August, all eyes are on how the upcoming holiday season will pan out. Despite interest rates remaining high, the forecast for November and December is cautiously optimistic, with similar growth projections to Q4 2022. The current economic uncertainty will not be enough to drag down consumer spending, and overall retail spending is predicted to rise by 4.5% to $1.328 trillion for the upcoming holiday season.* That being said, consumers are prioritizing spending and may be forced to spend less on discretionary items.
In addition to ensuring your brand stands out, it is more important than ever to appeal to cost-conscious consumers and give them reasons to spend. Q4 is an opportune time for holiday-focused Linear TV and CTV campaigns. Cooler weather and holiday programming drive audiences, contributing to some of the highest TV viewership of the year.
To ensure a successful Q4 campaign, we’ve provided a few tactical tips below:
Plan early!
A consumer’s decision to purchase starts early, and when I say early, Roku reported that viewers start watching holiday movies such as Home Alone in October. By bidding for their attention in Q3, marketers can test creative offers early and hit the ground running to influence a consumer’s decision to purchase impactfully. Those prioritizing Black Friday through Christmas Day will likely miss out on a large consumer segment.
Appeal to the cost-conscious customer.
Marketers that adapt creative messaging to overcome barriers to purchase will see greater success. Not limited to clearly explaining product benefits, demonstrating value and accessibility are key. This may present itself in several forms, including discounts, offers, and financing. Last-minute shoppers are more likely to sign up for “buy now, pay later” financing, predicted to reach 9% the week before Christmas.**
As a result of customers prioritizing spending, discounts, and coupons will be expected. Roku reported that a third of their streamers are interested in TV ads sending a link to their mobile device for special offers, promotions, or further information. Discounts are synonymous with Black Friday, and the deals in 2022 were longer and relatively deeper, with many retailers offering double-digit discounts — up to 34%.** With a similar economy, we expect a similar approach this year.
Encourage Mobile App Adoption
TV and CTV ads can encourage mobile app adoption and promote both the brand and its’ exclusive benefits. With brands prioritizing their most loyal customers, apps act as a connective tissue for cross-channel shopping journeys, and what better way to create loyalty with existing customers and acquire a new broader group of consumers.
Take advantage of the entire season
AEP and holiday advertisers exit the market in early December, opening up an opportunistic media landscape with high viewership from Christmas through January. Coupled with shoppers returning their unwanted Christmas items and value-seeking sale shoppers browsing for deals, consumers still intend to buy well into the New Year. By extending your advertising efforts past Christmas Day, you can even access new cohorts of consumers. Roku highlighted that December 25, 2022, was the largest day for new Roku account creation, with 7x the activations of the smallest day of the year.
Summary
Start early, stay late, and provide the discerning and cost-conscious consumer with reasons to pick your product over any other. By staying present for the entire quarter, brands can take advantage of every acquisition opportunity while making weekly adjustments to media spend based on results.
- Insider Intelligence, March 2023.
- PracticalEcommerce, August 2023
Nicky de la Salle is the Vice President of Growth at DirectAvenue. With more than 20 years of experience, including a decade at a “Big 6” global agency, in performance marketing and growth strategy, she is a proven senior leader with specializations in omni-channel marketing, eCommerce and digital marketing channels. Nicky has driven the performance marketing vision for Fortune 500, Entrepreneurs and Tech-Disrupters alike both in the US and internationally.
#globaltrends #economicoutlook #advertising #video #streaming #economy #tvviewership #omnichannelmarketing #lineartv #ctv #ctvadvertising #videoadvertising #streamingtv #directavenue #tvconsumption #viewership #viewershiptrends #advertising #programmingtrends #brandresponse #performancemarketing #performanceadvertising #video #recessionproof #recession2023 #beautyadvertising #holidayadvertising #holidayshopping #holidaysales #holidays2023 #q4
