By Jennifer Landis

As the auto industry still faces the impact of COVID-19, supply chain shortages, and interest rate increases, dealers are looking for ways to reach potential customers at a lower cost. Connected Television (CTV) offers a targeted audience with better results and lower costs compared to traditional TV advertising.

What Makes CTV Advertising Better Than Traditional TV Advertising?

Let’s start with scale; CTV provides dealers access to major networks and devices. And consumers are watching digital programming more than ever before. A recent study conducted by Forbes found that 68% of consumers’ view time was on CTV programming compared to 28% on traditional TV programming.

Unlike traditional TV advertising, CTV offers programmatic targeting, allowing auto retailers to buy ad time more efficiently, improve their cost per unit sold and adjust their spending as their targeting models change.

CTV technology is continuously working to understand the market penetration gain or loss and accesses unique data to ensure campaigns are on par with top cable providers’ reach.

CTV: Great News For Small Dealers

CTV allows dealers with smaller budgets the ability to take advantage of a wide range of programming opportunities across a multitude of networks and various streaming devices, all while reaching an abundance of diverse viewers.

Data is key to understanding the value of this investment. With CTV, dealers have access to detailed market penetration information that better helps them to understand the value add and reach of their investment.

CTV has excellent reach, and the impact can be easily measured. CTV partners also offer dealers access to “Demand Side Platform” software, enabling them to buy impressions based on viewers who meet specific target parameters. As a result, this type of advertising becomes more data-driven, which typically correlates to better outcomes and higher ROI.

The Proof Is In The Pudding

In a recent study, a Florida dealer tested CTV against other traditional media platforms over a span of two weeks. The results showed significant gains in performance with CTV across every single measured metric when looking at both period-over-period and month-over-month.

To confirm these results, they also measured key metrics when the campaign was terminated and saw an almost 15% decline in search impressions and clicks, coupled with a distinct drop in website shopper engagement.

Ready to learn more about CTV and how it can support your dealership’s marketing efforts? Contact us today.