Recession-Proof Marketing With CTV
As the pandemic-induced recession continues to escalate (sort of?), advertisers are tightening their budgets in anticipation of slowed consumer and lessening cash flow. Meanwhile, new customer acquisition has become more challenging, and companies are hesitant to invest in large scale marketing strategies. Choose CTV advertising if your business needs a sales boost that won’t break the marketing budget.
Reach Budget-Conscious Shoppers
Millions of Americans are feeling the effects of the current economic crisis. As the prices of essential commodities like gas, oil, and food continue to rise, consumers are eliminating unnecessary expenses from their household budgets. Unfortunately, in many cases, subscription services are the first to get cut. As a result, expensive items like cable TV, gym memberships, and food delivery services are getting the ax. However, three luxury expenses have remained safe from budget cuts:
- Cell phone plans
- Home internet
- Streaming platforms
As home phones become obsolete and the availability of remote jobs rises, cellular phones and home internet have become essential services. In addition, as a media-dependent society, video entertainment is a necessary relaxation and information outlet. These factors make CTV ads the premium choice for advertising during a recession.
Streaming services like Fubo, Hulu, Pluto, and more are much cheaper than traditional cable - some are even free! In addition, many platforms have more affordable plans with ads offsetting the cost to consumers. As a result, budget-conscious TV viewers are more likely to see and engage with CTV video ads seen on streaming services.
Video Advertising For Less
Recession challenges are felt by businesses too. As companies look towards lean spending strategies, marketing budgets are usually the first to get cut. As a result, marketing departments are searching for cost-effective strategies that can reliably produce high ROI. CTV ads are the perfect low-cost solution for video marketing.
- Spend as little as $20 per thousand views.
- Target a specific audience most likely to buy your product or service.
- Trust data-driven reporting to guide your campaign strategy and improve engagement
Tips For Recession-Proof CTV Ads
- Advertise products and services that provide undeniable value to consumers. Right now, people are not buying superfluous items. Explain why people need your product clearly in your CTV ad.
- Promote items or packages with various price points that fit multiple budgets.
- Offer financing or layaway options so consumers can pay over months or years.
- Run a good sale. Consumers never like to pay full price, but people search for the best deal even more during recessions. Giving a discount to new customers will make your company seem more affordable and welcoming. You can even offer an exclusive deal with CTV ad-specific promo code!