How To Leverage Data, Automation And Creativity To Boost TV Ad Sales

The COVID-19 pandemic disrupted many industries, including the television advertising market. Supply chains, consumer behavior and production schedules were affected by lockdowns, social distancing and health regulations. TV companies had to adapt to changing demand, inventory and pricing for ad spots, as well as compete with the growing popularity of digital platforms.

Despite these challenges, the pandemic also created new opportunities for television advertising, as people spent more time at home streaming content and seeking information and entertainment. Moreover, TV ads still have a strong influence on consumer awareness, trust and purchase intent, especially for big-ticket items and categories like travel and financial services.

To capitalize on these opportunities and overcome recent challenges, TV companies can learn from the best practices of digital advertising, which has been agile, responsive and innovative in the face of disruption. Here are some ways for TV companies to apply digital advertising strategies to sell ad spots in a post-pandemic world:

1. Use data and analytics to optimize ad inventory and pricing. Digital advertising platforms use sophisticated algorithms and real-time data to match ads with audiences, measure performance and adjust bids and budgets. TV companies can leverage their own information and third-party data sources such as set-top boxes, smart TVs and streaming services to segment and target viewers based on their preferences, behaviors and locations. They can also use data to forecast demand and supply and dynamically price ad spots according to their value and availability.
2. Offer more flexibility and transparency to advertisers. Digital advertisers can easily modify, pause or cancel their campaigns based on their goals, budgets and results. They can also access detailed reports and insights on their ad effectiveness and return on investment. TV companies can emulate this flexibility and transparency by offering more options and control to advertisers, such as shorter contracts, lower minimum spends and variable frequency caps. They can also provide more granular and timely feedback and analytics on their ad delivery and impact. Advertisers don’t want to wait until the conclusion of a campaign to figure out if it worked or not.
3. Embrace cross-platform and multi-screen advertising. Digital advertisers can reach and engage consumers across multiple devices and channels, such as websites, social media, mobile apps and podcasts. They can also create seamless and consistent experiences across the customer journey from awareness to conversion. TV companies can integrate their ad offerings with digital platforms, such as AVOD, over-the-top (OTT) and connected TV (CTV) services and offer cross-platform and multi-screen packages and solutions. They can also leverage the interactivity and personalization features of digital platforms to enhance their ad creativity and relevance.
4. Innovate and experiment with new formats and technologies. Digital advertisers are constantly exploring new ways to capture and retain consumer attention and interest, including creating interactive, immersive and native ads. They are also adopting new technologies, such as artificial intelligence, augmented reality and voice search, to create more engaging and customized ads. TV companies can also innovate and experiment with new formats and technologies, such as addressable, programmatic and shoppable ads. They can also partner with digital platforms, content creators and influencers to create branded content, sponsored shows and influencer marketing campaigns.
5. Collaborate and cooperate with industry stakeholders. Digital advertising is driven by a complex and diverse ecosystem of platforms, publishers, agencies, advertisers and consumers, who collaborate and cooperate to create value and standards. TV companies can also foster collaboration and cooperation with industry stakeholders, such as trade associations, measurement firms, regulators and competitors. Together, they can jointly address common challenges and opportunities, such as data privacy, fraud prevention, diversity and inclusion and social responsibility.

TV advertising is far from extinct, but it needs to evolve and adapt to the changing realities and expectations of the post-pandemic world. By learning from the best of digital advertising, TV companies can enhance their ad offerings, attract and retain advertisers and deliver value and results to consumers in 2022 and beyond.

Asrah Mohammed is the marketing manager for Waymark.