Connected TV (CTV) advertising has become a crucial channel for advertisers aiming to reach an engaged audience through streaming platforms and internet-connected devices. With the shift from traditional television to on-demand streaming services, CTV ads offer brands the chance to connect with viewers in new, dynamic ways. But what is CTV advertising and how can businesses harness its power to achieve better results?
Connected TV (CTV) advertising refers to digital advertisements that are displayed on TV screens through internet-connected devices such as smart TVs, set-top boxes, and streaming devices like Roku or Apple TV. These ads are delivered through streaming platforms, unlike traditional TV ads, which are broadcasted through cable or satellite networks. CTV ads offer a more interactive and targeted advertising experience.
With CTV, marketers can take advantage of data-driven targeting, reaching viewers based on specific criteria like interests, location, and viewing habits. This makes CTV advertising a powerful tool for connecting with a highly engaged audience.
👉Read More: Creating a Winning CTV Strategy: Monetizing Your Content
The rise of streaming services has dramatically changed how people consume television content. As traditional cable TV usage declines, streaming platforms like Netflix, Hulu, and YouTube continue to grow in popularity. By 2024, it is expected that streaming viewership will surpass traditional cable TV for good.
This shift in viewer behavior presents significant opportunities for advertisers. With CTV advertising, businesses can now reach consumers who prefer on-demand content. Not only does this enable brands to meet audiences where they are, but it also allows for highly targeted campaigns that drive better results.
CTV ads come with a wide range of benefits that make them an attractive option for modern marketers:
With CTV marketing, advertisers can leverage data insights to precisely target specific demographics based on factors like age, gender, location, and viewing habits. This level of granularity ensures that your ads reach the right people at the right time.
Viewers of CTV ads tend to be more engaged than traditional TV viewers. Because streaming services offer content on-demand, people who watch these services are actively choosing their programming, which increases the likelihood of them interacting with your ads.
Unlike traditional television, CTV ads offer detailed analytics that allow advertisers to track campaign performance in real-time. This includes metrics like view-through rates, click-through rates, and conversion rates, enabling you to make data-driven decisions and optimize campaigns on the fly.
Compared to traditional TV ads, CTV advertising is often more cost-effective, allowing advertisers of all sizes to reach a broad audience without exceeding their budget. The ability to target specific viewers also increases the ROI, making it a worthwhile investment.
The power of CTV advertising lies in the technology that enables it:
Ads are delivered to viewers through internet-connected streaming platforms, and can appear during content breaks or be integrated directly into the streaming content. This method of delivery allows for flexible ad placements that can be customized based on viewer behavior.
With CTV ads, targeting is done based on detailed data analysis. Advertisers use information like viewers' demographics, past viewing behavior, and even interactions with previous ads to serve the most relevant content to each individual.
One of the most significant advantages of CTV marketing is the ability to track ad performance in real-time. With the right tools, advertisers can assess how their audience is responding to their ads and make immediate adjustments to improve effectiveness.
👉Read More: OTT vs. CTV Advertising: What's the Difference & Examples
To maximize the impact of your CTV ads, it's important to develop a clear and structured approach to campaign creation:
Before you begin, it's essential to have clear objectives for your campaign. Are you trying to increase brand awareness? Drive conversions? Establish your goals early to guide your creative direction and measurement strategies.
Understanding your target audience is key to developing an effective CTV marketing strategy. Leverage available data to gain insights into the preferences and behaviors of your viewers, allowing you to create personalized, relevant campaigns.
Content is still king in CTV advertising. Invest in creating high-quality, visually appealing ads that resonate with your target audience. The more engaging your content, the more likely viewers are to interact with your brand.
Each CTV ad should have a clear, actionable call to action (CTA). Whether you want viewers to visit your website, download an app, or make a purchase, your CTA should be easy to understand and impossible to ignore.
To ensure your CTV marketing campaigns are effective, follow these best practices:
Make sure your branding is consistent across all ads to help build recognition and trust with your audience. This consistency will reinforce your brand's message and make it easier for viewers to remember.
Avoid bombarding viewers with the same ad over and over. Too many ads can lead to ad fatigue and cause viewers to tune out. Set frequency caps to ensure your ads are seen at the right intervals.
Consider integrating CTV ads with other digital marketing strategies, such as social media and mobile advertising. This cross-channel approach will help create a cohesive brand experience for your audience.
One of the key advantages of CTV advertising is the ability to measure success with precision:
These are two of the most important metrics for tracking the effectiveness of CTV ads. View-through rate (VTR) measures how many viewers watched your ad in full, while click-through rate (CTR) tells you how many clicked on your CTA.
It’s essential to track how many viewers take the desired action after watching your ad. Whether it’s signing up for a newsletter or completing a purchase, conversion tracking lets you assess the true impact of your campaign.
Ultimately, the goal of any advertising campaign is to generate a return on investment (ROI). By tracking key metrics and making data-driven decisions, you can optimize your campaigns to achieve the highest possible ROI.
While CTV advertising offers many benefits, it does come with its difficulties:
If the same viewers are exposed to your ads too many times, they may become fatigued and less likely to engage. It’s essential to manage frequency and make sure viewers aren’t overwhelmed by repetition.
The fragmentation of the CTV ecosystem means that ads need to be optimized for different devices and platforms, such as Roku, Apple TV, and smart TVs. Ensuring compatibility across these devices can be a challenge but is necessary for maximizing reach.
As with any form of digital advertising, it's crucial to comply with data privacy regulations like GDPR and CCPA when collecting and using customer data for targeting purposes. Make sure your campaigns respect user privacy to maintain trust.
👉Read More: What is OTT? A Comprehensive Guide to Over-the-Top Video Advertising
CTV advertising offers a powerful and cost-effective way to engage viewers in today’s streaming-driven world. By leveraging the unique capabilities of CTV marketing, advertisers can craft targeted campaigns that resonate with their audience and deliver measurable results.
As streaming continues to replace traditional television, CTV ads will play an increasingly important role in digital marketing.
Start optimizing your CTV advertising strategy today and stay ahead in this evolving landscape.
CTV advertising offers key benefits, including advanced targeting based on viewer data, higher engagement rates due to on-demand content, and measurable performance with real-time analytics. These factors allow advertisers to deliver relevant ads to a specific audience and optimize campaigns effectively.
Optimizing CTV ad placement involves using data insights to determine the best timing for ads, ensuring they don’t disrupt the viewer experience. Experimenting with different ad formats, such as pre-roll, mid-roll, and post-roll ads, can also improve engagement and prevent ad fatigue.
Important metrics for CTV campaigns include view-through rate (VTR), which shows how many viewers watched the ad completely, click-through rate (CTR) to measure engagement, and conversion rate, which tracks the actions viewers take after seeing the ad, such as making a purchase or signing up.
To make your CTV ads effective, focus on creating high-quality content that resonates with your target audience, use personalized targeting based on viewer behavior, and include a clear call-to-action (CTA) to guide viewers towards the next step, such as visiting a website or making a purchase.
Businesses need to master the order-to-cash (O2C) cycle to stay competitive in the bustling world of business. This process, stretching from order entry to revenue recognition, is more than just a financial transaction – it's the backbone of your company's financial health and customer relationships. In this article, we dive into why perfecting your O2C process can revolutionize your business and keep you ahead in the market.The order-to-cash process might sound complex, but understanding it is essential for anyone aiming to boost operational efficiency and cash flow. By dissecting each step, we'll reveal how streamlining can lead to quicker billing cycles, happier customers, and a stronger bottom line.
👉Read more: Subscription App Analytics Definitive Guide
The order-to-cash (O2C) process is the complete sequence of steps a business follows from the moment a customer places an order to the collection of payment. It covers all functions related to processing sales orders, fulfilling them, invoicing the customer, and receiving payment, thus converting sales into cash.
The Order-to-Cash (O2C) process is vital for keeping businesses running smoothly and financially sound. Here are the key components you need to know:
Knowing the importance of the O2C process in business operations is key to keeping your cash flow healthy and ensuring operational success. Here’s why it matters:
Benefit | Description |
---|---|
Cash Flow Management | With the O2C process running smoothly, cash flows in faster. This boost in cash inflows helps your business meet its financial obligations and gives flexibility for growth. |
Customer Satisfaction | Quick and accurate order processing, along with efficient problem resolution, boosts customer satisfaction and loyalty. Satisfied customers are more likely to return. |
Operational Efficiency | Streamlining the O2C process removes redundancies, reduces errors, and saves costs, leading to a more efficient operation overall. |
Compliance and Reporting | Properly managing the O2C process ensures compliance with financial regulations and aids in accurate financial reporting, avoiding regulatory issues and keeping the business on track. |
This is where the order-to-cash process begins. It involves receiving and handling customer orders, setting the stage for a smooth workflow. This includes order entry, validation, and processing. Getting the data right from the start prevents issues later on, boosting customer satisfaction and operational efficiency.
This step involves assessing a customer's creditworthiness before processing an order. By determining if a customer can meet payment obligations, you reduce financial risk. Effective credit management is about striking a balance between minimizing risk and seizing opportunities, protecting your revenue while meeting customer needs.
Once an order has been fulfilled, it's time to create and send out invoices. Accuracy here is key because it directly affects how quickly you get paid. Clear and concise invoices help customers understand all charges, reducing the chance of disputes and speeding up the payment process.
Payment processing is about turning invoices into actual revenue. This is where companies accept and verify payments made by customers. Efficiency in payment processing is important to keep your cash flow healthy, as it ensures that payments are received and processed quickly, minimizing the time between billing and revenue recognition.
Accounts receivable and collections focus on managing and recovering funds that are due from customers. You can minimize late payments through proactive management and clear communication, significantly boosting your liquidity and financial stability. This directly impacts your bottom line, empowering you to invest in growth and achieve long-term success.
Automation is the game-changer for your order-to-cash cycle. The right software can help you streamline everything from order management to collections, slashing manual errors and keeping data flowing smoothly.
For instance, an ERP system can act as a central command center, connecting all the dots, and giving you real-time data and insights to make smarter decisions. Plus, these platforms are customizable, so you can tailor them to your specific industry needs. The result is faster processing, fewer errors, and a dramatically improved bottom line.
Simplify your in-app purchase process and reduce delays in cash flow with Nami ML’s subscription software. Discover how we help mobile apps create seamless, reliable order-to-cash cycles.
Traditional order-to-cash processes can be slow and vulnerable. Artificial Intelligence (AI) and Machine Learning (ML) are here to disrupt. Here's how:
Here are the key hurdles to watch for in the order-to-cash cycle:
To effectively tackle challenges related to the order-to-cash process, businesses can implement several strategic measures:
By strategically addressing these pain points, businesses can reinforce their order-to-cash process, enhancing efficiency and reliability, which in turn bolsters overall financial health and competitive standing in the market.
Accelerate your app’s cash flow by enhancing each step of the order-to-cash process. With Nami ML, you can ensure a frictionless in-app purchase experience from order to payment collection.
👉Read more: Accrued Revenue: Definition & Examples
Mastering the order-to-cash process is crucial for a thriving business. By integrating advanced technologies like ERP systems, AI, and ML, businesses can enhance operational efficiency and financial outcomes. Addressing challenges through strategic improvements in data centralization, credit risk analysis, and compliance updates ensures a robust framework for managing transactions. Prioritizing these advancements helps companies stay competitive and ensures sustainable growth.
Mastering the order-to-cash process is essential for operational efficiency, improved customer satisfaction, quicker cash inflows, and strong compliance and financial reporting. This boosts financial health and provides a competitive market edge.
Challenges in optimizing the process include fragmented data systems, compliance issues, credit risk assessment, payment delays, and adapting to new technologies. Overcoming these hurdles demands strategic planning and significant investment in technology.
Technology revolutionizes the order-to-cash process by automating tasks with the aid of powerful tools such as Enterprise Resource Planning (ERP), Artificial Intelligence (AI), and Machine Learning (ML). These tools streamline decision-making, enhance credit scoring efficiency, and bolster fraud detection strategies.
To conquer these hurdles, businesses can unify data with integrated ERP systems, harness advanced analytics and AI for precise credit risk assessments, stay updated with compliance protocols, automate invoicing and payment reminders, and empower staff through training on cutting-edge technologies.
Explore the crucial strategies for optimizing subscription-based revenue on Connected TV apps. Learn 5 essential best practices to drive more conversions.
In recent years, the rise of Connected TV (CTV) has revolutionized the way consumers access and engage with digital content. This shift has also opened up new avenues for commerce, allowing businesses to reach their audience on the big screen from the comfort of their living rooms. However, ensuring a seamless and frictionless checkout experience on CTV apps requires a unique set of considerations. In this blog post, we'll explore the best practices for selling digital subscriptions on connected TVs.
The cornerstone of an effective CTV commerce checkout process is a clean and intuitive user interface. Remember, viewers are navigating with a remote control, so simplicity is key. Use large, legible fonts, high-resolution product images, and straightforward navigation paths. Avoid clutter and unnecessary elements that might confuse or frustrate users.
Navigation is critical on any platform, and CTV is no exception. Ensure users can easily move through the purchase experience using the directional buttons on their remote control. Use focus states to help the user stay grounded within the UI. Be sure your calls-to-action, like "Start Free Trial" and "Buy Now," receive prominent treatment.
Make it easy for users to browse and select the plans you offer. Use a grid layout that displays multiple products on one screen to save time and effort. Provide concise, engaging pricing information.
Connected TVs come in various screen sizes and resolutions. Test your checkout process on different devices to ensure it looks and functions well across the spectrum. Avoid elements that may be too small or difficult to read on larger screens.
The best way to refine your CTV product selection flow is through user testing and feedback. Conduct usability tests with real users to identify pain points and areas for improvement.
Incorporating these best practices into your CTV paywall can lead to higher conversion rates, increased customer satisfaction, and ultimately, a more successful and profitable business. By prioritizing user experience and convenience, you'll be well on your way to unlocking the full potential of the connected TV market.
👉Read more: Cross-Platform Subscriptions
Nami is #1 solution for optimizing CTV revenue across leading platforms such as Roku, Apple TV, Google Android TV, and Amazon Fire TV. Using Nami’s no-code paywall management solution, you can easily manage your CTV purchase experience from the cloud without requiring development cycles. Leverage Nami’s advanced paywall segmentation engine to run a multivariate tests to find out what works. Contact our product experts to see Nami in action.
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👉Read more: Monetizing Digital Products with Subscriptions
It's never been easier to create and sell a mobile app. Plus, some other ways people are making things and generating revenue in 2022.
The Great Resignation has seen 33 million Americans leave their jobs since the Spring of 2021. While the global pandemic was a catalyst, it’s not what gave so many people the confidence to make the leap. Do you have an idea to sell an app?
It’s never been a better time to be a solopreneur. All you have to do is explore communities such as #buildinpublic on Twitter to see the diversity of products people are building.
There are plenty of great opportunities to make money online in 2022. Here’s just three:
It’s never been easier to learn how to make an app. People from all walks of life are learning how to get started with programming using Swift Playgrounds from Apple.
Want to learn how to design and code your first mobile app? Check out the more than 240 tutorials from Design+Code.
Once you make an app, it’s time to make money. In fact, it’s never been easier to make money by collecting in-app payments through the Apple Store or Google Play. Nami provides a simple toolkit to sell your app like additional features, content, or even tips. Payments can be through one-time purchases or recurring subscriptions.
You can sell your app another way, too! Services like Flippa provide a market place for buying and selling apps. The more app revenue, the higher the price.
In addition to a mobile app, you can build a SaaS (software as a service) application. So-called micro-SaaS apps are easier than ever to build no code tools like Bubble. Once built, it’s easier than ever to get feedback and find your first customers.
Communities like Indie Hackers and Product Hunt provide a great jumping off point. Get the word out by sharing what you are doing and asking for feedback.
Once you’ve generated some revenue, sell the app on Flippa or for a nice premium on MicroAcquire if your monthly recurring revenue (MRR) supports it.
Another way to make money online is to share your knowledge with others. Paid info products have become incredibly popular. From ebooks to video courses, these come in many formats.
There are so many of these types of products. Some offered for a one time fee. Others through a membership.
Just a few examples:
👉Read more: Let Your Fans Support Your App with a Tip Jar
We covered only three of the ways people are making money online. There are so many more. All you need to do is figure out what your niche is and have the courage to get started. Happy selling!
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69% of consumers currently pay for some type of subscription-based video streaming service. This is creating a halo effect as consumers are comfortable adopting other types of subscription-based apps.
We have approached the milestone predicted years ago that streaming video will ultimately overtake cable as the preferred source for home entertainment media content. Consulting firm Deloitte reported that 69% of consumers currently pay for some type of video streaming service. The report also found that only 65% of consumers pay for traditional cable or satellite subscriptions. This is a significant increase of 10% from last year. In 2009 only 10% of consumers subscribed to internet video services.
The big three streaming services – Netflix, Hulu and Amazon Prime were joined this last year, to much fanfare, by Apple TV+ and Disney+. Both of the new streaming services are expected to attract a significant number of subscribers by releasing large-budget content that will no doubt shake up the balance. However, this second wave of streaming services, with the introduction of Apple TV+ and Disney+ will not necessarily mean the viewership pie will be sliced.
An increasing number of video streaming consumers are choosing multiple app subscriptions today to satisfy their viewing content interests. A recent survey found that most people are now willing to pay between $17 and $27 a month for all streaming subscriptions. It is no longer a matter of which streaming service to choose from. It is now how many can I subscribe to for the best value.
The trends in cable cutting from the Deloitte report shows a generational preference among consumers. When we look at millennials, 22 to 35, we see 88% who chose online streaming services while 51% subscribed to traditional cable or satellite. There is still 43% of consumers overall that pay for both services (traditional TV and Internet video services). These consumers, on average, subscribe to three different streaming services. The primary reasons why they chose online streaming services included, access to original programming (57%) and to avoid all advertising (44%).
👉Read more: Mastering Subscription Commerce for Connected TV Apps
The dominant model for video streaming services in the United Stated remains the subscription model where a monthly fee is paid to watch video content free from ads. The competition in this market is no longer just about gaining eyeballs for advertisements, it’s about building a subscriber base that provides consistent monthly revenue for the provider. The subscription revenue vs advertising revenue debate has seen clear winners in the music and video streaming space.
This has led to app subscriptions increasing significantly in other verticals as well. Subscription gaming, identity-theft protection software, podcasts, credit reporting, antivirus tools, even SaaS solutions like Photoshop all indicate demand and increasing acceptance of the subscription model as the better option for apps and content consumers.
Subscription services are continuing to grow in markets outside just the streaming space. For app developers that want to grow and optimize a recurring revenue stream, we recommend using Nami ML. Now is the best time to publish your app with Nami, the world’s first platform purpose made to optimize subscription revenue powered by advanced machine learning. Try it for free today.
👉Subscriptions Driving Consumer Spend
Nami Co-Founder & CEO Dan Burcaw joins Subscriptions: Scaled Podcast with Nick Fredrick to discuss what it takes to launch a mobile subscription business, how Nami can help, and more.
Nami Co-Founder & CEO Dan Burcaw joins Subscriptions: Scaled Podcast with Nick Fredrick to discuss what it takes to launch a mobile subscription business, how Nami can help, and more.
Here's the podcast synopsis from the show page:
Do you want to learn how a service that helps businesses launch mobile app subscriptions works? Then tune in to the latest episode of Subscriptions: Scaled, with Dan Burcaw, Co-Founder & CEO at Nami ML. Throughout the episode, you’ll learn all about Nami ML as a company, the recent changes in the subscription industry, mobile app subscription integration, and so much more.
Listen on Apple Podcasts, Spotify, or at the Subscriptions: Scaled episode page.