GroundTruth, the leading location-based marketing and advertising technology company, announced the full availability of its OTT/CTV advertising solutions. Powered by geo-contextual and audience targeting, GroundTruth’s TV platform provides digital video advertisers consumer insights based on offline behavioral data for enhanced campaign reach, accuracy, and measurement.
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Forty-five percent of consumers who regularly watch online video tune into ad-supported services, according to the IAB. Brands, however, are only spending an average of 4% of their budgets on streaming. As the scale of OTT and CTV advertising supply increases, there is a growing need for marketing solutions that can fully harness the opportunity for marketers.
“The emergence of advanced TV advertising is very reminiscent of the early days of mobile,” said Eddie Dingels, Chief Operating Officer, GroundTruth. “In 2014, mobile accounted for a small percentage of digital ad budgets despite consumers spending nearly 25% of their time on mobile devices. It wasn’t until this year when mobile started matching desktop ad budgets. OTT and CTV advertising are on a similar path.”
With TV sets connected to the internet now in nearly three-fourths of every U.S. household, marketers can extend the reach and accuracy of their video advertising to smart TV screens across the country through OTT and CTV media. In addition, as data signals across the industry such as cookies get phased out, geo-contextual audiences are providing advertisers with viable and effective solutions to reach higher intent consumers than those searching online.
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Findings from the first implementations of GroundTruth’s TV platform that span retail, auto, and restaurants, revealed:
- 65% of in-store shoppers are streaming entertainment on third-party apps
- Luxury brand millennial shoppers are consuming 20% more CTV content than average throughout the day representing three hours of their day. They shop at brands like LuluLemon, Adidas, Aldo, Abercrombie and Fitch
- Tech savvy shoppers are consuming 60% more CTV than average. That’s about four hours of their day. They shop at brands like Apple, Samsung, and Tesla
- Retail and restaurant goers are consuming 25% more CTV than average representing three hours of their day
GroundTruth’s geo-contextual targeting is powered by Blueprints, GroundTruth’s proprietary mapping technology that contextualizes offline behavior for performance-driven marketing solutions. For example, in April 2021, a leading automotive group ran several CTV ads along with their mobile campaign using geo-contextual auto intender audiences. Focused on reaching consumers who had recently visited luxury dealerships, the omni-channel campaign generated nearly two thousand visits at an average rate of $18 per visit, which is a 41:1 (profit vs investment) ratio.