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Tuesday, October 4, 2022
HomeTechnologyThe cord cutters: Retailers move to appeal to consumers on streaming devices

The cord cutters: Retailers move to appeal to consumers on streaming devices

Gretchen Salois

Today’s younger demographic is increasingly viewing their entertainment through connected TV via streaming services instead of satellite and cable.

In the last week of December 2021, U.S. consumers streamed 183 billion minutes of CTV, surpassing the early 2020 COVID-19 lockdown record peak of 166 billion minutes, according to Nielsen, which measures traditional linear television and CTV.

And while there are still commercials, they are not the same.

Instead of vying for a 30-second spot on network television during prime-time costing millions, digital marketers can use CTV ads to pinpoint who their audiences are. Marketers can place ads on different streaming platforms at varying price points to appeal to different demographic groups.

A high volume of ad views is encouraging, but digital marketers need to measure if they are reaching their brand’s target demographic and their return on investment. How retailers leverage the consumer urge to sit back and enjoy a show can make a big difference to the bottom line.

At Cuisinart, on average CTV ads generated a 453% increase in average order value compared with its ecommerce site’s AOV. SmileDirectClub’s strategy is to prepare for demand for its teeth aligners as COVID-19 shifts to endemic from pandemic and more consumers venture attend events; used incremental testing methods to see how U.S. viewers reacted when exposed to CTV ads versus those who were not—resulting in a 244% increase in website visits and 51% increase in web sales; and baby formula retailer Else Nutrition strategizes how to reach customers by focusing on peak times of day instead of the type of streaming channels alone, resulting in a 56% increase in Amazon-specific sales.

Each of these online retailers takes a different approach to how they market via CTV with the same goal of getting the attention—and business—of as many consumers as possible.

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