Cashing in on the digital connection.
How much is your attention worth? Five dollars a minute? Fifty? Every moment you spend online equates to a dollar amount somewhere to someone. As people increasingly turn to digital media for entertainment and connection, the line between social media and connected TV (CTV) is beginning to blur. Advertisers are seizing the opportunity to tap into the powerful human connection that exists between these platforms. Social media giants like Facebook/Instagram, Twitter, TikTok, and Snapchat have revolutionized how people connect and share information. At the same time, CTV devices like Roku, Apple TV, and Amazon Fire TV have transformed how people consume television. In this blog, we’ll explore how the convergence of social media and CTV is creating a digital gold rush for advertisers and how they can engage in this trend by leveraging each platform’s unique strengths to connect with audiences in new and engaging ways.
Advertising on social platforms
Connected TV isn’t the only digital platform that’s caught the attention of advertisers. Social media has fundamentally transformed human interaction and the way we consume information. Platforms like Facebook, Instagram, TikTok, Twitter, and Snapchat have become integral to daily life for billions of people worldwide. By leveraging social media’s powerful human connection, advertisers can target potential customers with personalized ads, making it a digital goldmine. In addition, the rise of CTV has created new opportunities for social media apps to reach audiences on the big screen.
For example, many CTV devices now allow users to access apps like Facebook, Instagram, and Twitter, enabling advertisers to reach viewers across multiple platforms. According to Statista, global ad spend on social media is projected to reach $268.70 billion in 2023. Social media’s continued expansion and its effect on customer behavior make it an essential component of any digital marketing plan.
Brick and Mortar to Click and Mortar
4.59 billion
# of social network users
$230 billion
Social media ad spend worldwide
United States
Leading social media ad market
Source: https://www.statista.com/outlook/dmo/digital-advertising/social-media-advertising/united-states
Social media and CTV aren’t just changing the advertising game – they’re also transforming how we shop. As more and more consumers shift to online shopping, physical malls are becoming less relevant. Social media platforms are helping to drive this growth by offering new opportunities for businesses to reach customers and sell products. For example, Instagram’s ‘Shopping’ feature enables users to buy products directly from the app, while Facebook Marketplace allows users to buy and sell items within their local communities. Meanwhile, CTV devices are opening up new opportunities for retailers to reach audiences in the comfort of their own homes. By combining the power of social media and CTV, retailers can create immersive shopping experiences that engage customers and drive sales. Say ‘goodbye’ to physical malls, and ‘hello’ to the future of digital retail!
The intersection of social platforms and CTV
Social media platforms like Facebook, Instagram, Twitter, and TikTok have developed apps that can be accessed through CTV devices, enabling users to watch videos, engage with content, and interact with their favorite social media accounts on the big screen. Let’s take a look at a few ways you can implement a CTV/social media strategy.
Strategize with CTV and social media
- Develop cross-platform campaigns that leverage the unique strengths of social media and CTV. For example, a brand could create a social media campaign that encourages users to engage with their CTV app or a campaign that drives viewers to engage with the brand’s social media accounts.
- Take advantage of social media apps accessible through CTV devices to reach audiences on the big screen. This could involve creating videos specifically for the CTV screen or using interactive features that engage viewers more effectively.
- Use social media and CTV data to inform audience targeting and creative decisions. Social media platforms offer a wealth of data on user demographics and interests, while CTV devices can provide data on viewership patterns and engagement.
- Experiment with emerging technologies like augmented reality and virtual reality to create unique and engaging advertising experiences that leverage the power of both social media and CTV.
- Continuously monitor and optimize campaigns to ensure maximum effectiveness. This may involve A/B testing different creative formats, adjusting targeting parameters, or tweaking messaging to resonate better with target audiences.
New trend: Live streaming platforms and creators
Live streaming is quickly becoming one of the most popular ways for people to consume content on social media and CTV platforms. According to Statistca, Twitch had a total of 5.71 billion hours of watched content in the third quarter of 2022. Here are some actionable steps that advertisers can take to leverage this trend for their advertising campaigns:
- Identify relevant live streaming platforms and creators that align with your brand values and target audience.
- Work with these creators to develop branded content that integrates seamlessly into their live streams.
- Utilize influencer marketing strategies to promote your brand and products to their followers.
- Take advantage of CTV devices’ live streaming functionality to reach a larger audience and create a more immersive advertising experience.
- Continuously monitor and analyze the performance of your live streaming campaigns to ensure they are effectively reaching your target audience and delivering meaningful results.
As with any advertising strategy, success in leveraging social platforms and CTV requires a deep understanding of your target audience, the platforms they use, and the creative strategies that will resonate with them. Advertisers must continually monitor and analyze their campaigns to ensure they are effectively reaching their target audience and delivering meaningful results. By staying on top of emerging trends and technologies, taking a data-driven approach to targeting and creative decisions, and experimenting with new formats and channels, advertisers can harness the power of social media and CTV to create immersive, engaging campaigns that deliver real results.
Unlock the full potential of social platforms and CTV with Kochava
Whether you’re a streaming service with an OTT app, or a performance marketer looking to drive growth through OTT, Kochava can help. Stay up-to-date with all the latest in adtech by subscribing to our newsletter.
For more information, visit our website or reach us at support@kochava.com.
