There are huge opportunities for brands in using the connected devices consumers already use to access video content. Connected TV expert, Jacqueline Corbelli explains. By Jacqueline Corbelli, Co-founder, CEO and Chairman of BrightLine
Technology and digital have transformed consumers' expectations when it comes to the premium video experience.
Thanks to the rapid adoption of connected devices and smart TVs, the popularity and usage of mobile apps and the sheer amount of video watched across multiple screens, and screen sizes, the ways we connect with the messages and content we care most about has been revolutionized. Yet many in media companies, advertising agencies and corporate marketing areas have not kept a full pace with these changes.
Connecting with video
There is a massive opportunity to leverage these trends and remake the connection between brands and consumers across the digital spectrum, and especially on what used to be called TV. The bottom line is that consumers have taken greater and greater control over how, when and where they will engage in messaging and content. Additionally, they have never been more empowered or motivated to seek out great video content.
The internet is feeding TV consumption in an increasingly seamless way - 34% of US homes already own a smart TV, 20% own a streaming device and a whopping 62% own a gaming console, all of which are being used, in part, to stream TV from the internet. In addition, 60% of connected TV homes are watching TV programs via the Internet, and a report from eMarketer this spring states that, in 2015, the majority of US Internet users will be using a connected TV. It bears out, according to Adobe's recently published Video Benchmark Report, "the increased mass availability of new TV-capable platforms…has had a profound effect on TV consumption in the last year". Through June 30, 2014 online TV consumption rocketed 388% year over year.
The same technologies that have changed the way consumers access video content can also empower brands and marketers to connect with them across connected devices. We can now see clear evidence of a gradual yet steady march in the ad world to a full link up of digital rich video advertising with the new premium content ad opportunity that connected TVs now represents. The trend is both logical and real, now that "the connected TV universe can offer marketers a unique blend of digital interactivity and TV's big-screen power".
Viewers no longer just watch
At the heart of the new landscape of connected viewers is also a new language. These are consumers who don't just watch, they "opt in," they "engage," they "interact," they "like," they "share," they "buy now," and they repeat experiences they enjoy across all the devices they own. Brands clearly need to become part of these currencies and to do that they need to embark on a deliberate path of adaptive change that acknowledges this reality.
It won't be an easy path, as the change required means a fundamental shift in the design of core processes, practices, systems, and business approaches. It's a time to activate and empower agencies to ensure they are in position to systematically incorporate connected elements into their media and creative strategies it's time to ensure brand managers are fully skilled on how development in converged - TV, mobile, social - platforms can optimize brand relationships with consumers and it's time to weave the marketing and information management departments together to best leverage the power of interactivity, information flow and analytics to improve strategy development and decision making.
Data too is at the heart of the changing face of video. It enables brands to become smarter and shape content to the preferences of target consumers within the TV medium. The opportunity exists to make the medium work harder through a virtuous circle that leverages data to determine how to form converged TV strategies generates new data that proves whether they work thereby progressively enriching the data set that enables brands to continually refine the approach and create more flexible, dynamic systems. This is a route that position marketers to optimize the TV medium in the most valuable way for the consumer.
In sum, the advertising industry must begin to reap the vast potential of a focused and deliberate reengineering of the on-line video ad strategy, and the critical processes that deliver it. Get it right and the industry can lay claim on the full power of a TV connection between brands and people in a fully connected world.
Jacqueline Corbelli's new book Revealed is available on Amazon.