Innovid ( NYSE: CTV), an independent advertising platform for delivery, personalization and measurement of converged TV, today announced findings from its first-ever deep dive consumer packaged goods (CPG) report, examining critical trends, challenges, and opportunities in the video advertising industry. The report reveals that, amongst CPG advertisers, connected television (CTV) devices account for over half of all video ad impressions (52%) – up from 44% previously – overtaking both mobile (37%) and desktop (11%).
“Consumer behavior is changing at an unprecedented speed, and the rise in ecommerce has compelled CPG brands to reimagine their digital advertising strategy,” said Stephanie Geno, CMO, Innovid. “To meet consumers’ evolving shopping habits and build brand loyalty, CPG brands have turned to CTV for its ability to reach consumers with personalized, cutting-edge advertising formats in a largely unsaturated space.”
- Seize the CTV Opportunity
- CPG’s video impression share for CTV was 52%, up from 44%.
- Pet supply brands lead CTV impression share with 70%, followed by household cleaning and beauty (both at 62%), food (61%), household goods (60%), beverages (42%), personal care (40%), alcoholic beverages (39%), and over the counter (28%).
- Boost Brand Loyalty with Advanced Creative
- Over half (53%) of all CPG CTV advertisers ran some kind of advanced creative video (i.e. dynamic creatives and interactive content).
- CPG brands using advanced dynamic creative optimization (DCO) formats – a form of advertising technology that uses data to guide and optimize creative elements and messages – saw a significantly higher video completion rate (VCR), of 98.6% versus an average 93.9% completion rate for standard video.
- Reach More without Repeating More
- CPG brands advertising across more than 6 CTV publishers had a duplication rate of just 18%.
- CPG campaigns reached just 12% (11.6%) of Innovid’s 95 million CTV households on average, indicating there’s plenty of room for growth.
“When maximizing reach, duplication is a justified concern for marketers – an ad shown too many times can negatively impact the consumer experience,” continued Geno. “This is exactly where unified ad delivery, personalization, and measurement through a single independent platform is essential. There is a great deal of unexplored runway here, and there are many more households to reach. With the right tools, marketers can tap into those audiences, broaden reach, and mitigate oversaturation.”
The report analyzed more than 103 billion CPG video advertising impressions served on Innovid’s platform over a full year. Researchers looked across CTV, mobile, and desktop devices, examining performance across standard and advanced video to compile a complete picture of CTV advertising benchmarks and insights globally.
“As the worlds of digital and linear television converge, CPG brands are realizing that CTV delivers the best of both worlds,” added Geno. “It provides captivating sight, sound, and motion that engages audiences, along with the targetability, interactivity, and measurability that allows advertisers to increase the ROI of their campaigns. We believe that CPG brands will continue increasing their presence on CTV, as they are empowered with these experiences and tools that can reinforce brand loyalty and attract new customers–all from the comfort of their couch.”