Despite the streaming increases and TV perception changes, consumers have found to be more trusting toward broadcasters than streaming giants.
Finecast released the report, “Think Outside The Box,” in which it revealed the new changing face of the television market demonstrating consumer engagement for addressable TV ads. The addressable tv provider worked alongside Dipsticks Research Group to conduct the research. “TV continues to play an important and evolving role in the lives of consumers in 2020,” Phoebe Casey-Miller, Research Manager at DRG, said.
Among the shifts noted in the report include 60% of viewers admitting that their perception of TV has shifted over the last five years, while 85% are confident that they will always keep a TV in the house. 74% of respondents classify broadcast video on demand (BVOD) as TV, 53% include SVOD and 9% even include YouTube in the mix. TV, particularly BVOD still sets the standard for high quality viewing for 74% with online video respected as high-quality content by just 57%. These figures closely correlate to trust with 75 and 57% respectively willing to put their faith in what they see on BVOD and online material.
Among all media channels, 59% of those open to advertising trusted TV the mot, way ahead of other channels such as Press at 11%, Cinema at 9%, OOH at 9% Radio at 6% and Online at 6%. However fully 50% of respondents told Finecast that they did not trust any of these channels. A third of those quizzed said they would be more likely to give their time to an advert if it was relevant to them, highlighting the potential power of targetted addressable advertising to reach specific audiences. "Viewers want relevancy, creativity and TV ads that they genuinely enjoy watching rather than find annoying and intrusive," Casey-Miller said. "There is a clear line between using data-driven advertising solutions to create relevancy and engagement amongst viewers vs making them feel as if they’ve lost all sense of control with creepy targeting."
Addressable advertising is cited as a potential TV entry point for brands by enabling highly focussed investment targeting particular audiences and locations. “These changes mean exciting new opportunities to reach consumers in different states of need, viewing contexts and across different devices and platforms," Casey-Miller said. "However, execution is key."
A neuroscientific study was also conducted to further understand viewers’ responses to addressable TV advertising at a subconscious level. It consists of measuring engagement through a combination of physiological markers and explicit and implicit behavioural measures. It found that people remembered ads more accurately and exhibited greater external focus when watching TV ads on a big screen compared with smaller, handheld devices. "Both at a conscious and subconscious level, addressable TV advertising has the potential to positively impact viewers, but it needs to be done correctly," said Finecast UK Managing Director Harry Harcus. "TV is an opportunity to tell a story, and the expectation from consumers is that it should be relevant to them too."
Viewers want relevancy, creativity and TV ads that they genuinely enjoy watching rather than find annoying and intrusive.There is a clear line between using data-driven advertising solutions to create relevancy and engagement amongst viewers vs making them feel as if they’ve lost all sense of control with creepy targeting.” Phoebe Casey-Miller Research Manager, DRG