"Televisionation": Why Attribution is Even More Essential Now
April 8, 2020
There’s no getting around the fact that COVID-19 is a challenging time for everyone, both professionally and personally, as we navigate a crisis that is evolving each day. In a candid interview with TVOT's Tracy Swedlow for the "Televisionation" podcast, TVSquared’s President, Jo Kinsella, discussed the ways in which the coronavirus is impacting TV advertisers across the entire ecosystem, including how brands can maximize their cross-platform campaigns as TV viewership soars.
While the entire interview can be listened to and watched here, some of the key takeaways are below:
In light of COVID-19, accountability for every ad dollar is more important than ever. Advertisers need an always-on attribution platform that can continually process new data in order to identify exactly which creatives, publishers, dayparts, genres and more are garnering the highest levels of performance from engaged audiences.
Advertisers should not “go dark.” TV has an enormous impact on a brand; in addition to short-term performance, TV’s “halo effect” (its longer-term impact) is powerful. Advertisers across categories need to make sure they’re still visible to consumers, especially now that there’s such a massive at-home audience gravitating toward TV platforms.
As TV viewership soars among people of all ages, advertisers that implement test-and-learn strategies (continually measuring and optimizing TV campaigns) may discover new audiences that they were not able to reach previously.
Within the first few weeks of COVID-19, TVSquared data showed that categories such as travel, food and beverage and retail (brick and mortar stores) have decreased ad spend, while pharma, tech and direct-to-consumer have increased TV spend. Food delivery, e-learning and home fitness brands are also becoming increasingly dominant in the space.
Looking ahead, the current crisis will ultimately lead to a future industry defined by more accountability and less ad waste. Advertisers will insist on nothing less than real-time, accurate attribution.