Advertising as a healthcare brand can be tedious credit to several restrictions. CTV can clarify this clutter and propel your brand forward in every channel.
In the world of marketing, it’s crystal clear: an omnichannel strategy is the way forward. The proof is in the data, which shows significant improvements in purchase rates, purchase frequency, and customer retention.
How?
By consistently delivering messages across various channels and devices. But before we dive deeper into this, let’s demystify CTV and understand why it’s necessary for your omnichannel marketing approach.
Streaming Video Takes Center Stage
Around 85% of U.S. households have subscribed to at least one over-the-top (OTT) video streaming service like Netflix, Hulu, Amazon Prime Video, or HBO Max. Individuals, on average, have four streaming service subscriptions. This streaming revolution has led to a decline in traditional paid TV services. Consumers are “cutting the cord” to opt for streaming. That’s where advertisers come in. Clearly, streaming video is the new kingpin, and advertisers need to be where their audience is.
CTV’s Rapid Growth
Connected TV (CTV) advertising has been on a remarkable growth trajectory. In 2021, CTV ad spending reached $15.2 billion, a 57% increase from the previous year. It was projected to expand another 39% in 2022, reaching $21.2 billion. What’s the driving force behind this growth? The surge in streaming on CTV devices. It’s no longer a matter of if you should consider CTV advertising; it’s a matter of when.
Reaching Healthcare Professionals and Consumers
The million-dollar question for healthcare brands is whether CTV can effectively reach healthcare professionals (HCPs) and consumers. Here’s the scoop: HCPs, just like everyone else, have their downtime. They watch shows on their smart TVs. So, whether you’re trying to connect with HCPs or consumers, CTV is the place to be. Doctors and nurses watching TV at home can be influenced like any other viewer.
CTV Advertising Pays Off
A recent analysis of a pharmaceutical brand’s CTV advertising revealed impressive results. They achieved a 5x increase in new patient starts attributable to new prescribers. The CTV campaign yielded 36 net new HCP prescribers loyal to competitive brands, 52 new patients, and a 5.3x return on investment.
To harness the power of CTV advertising, you need the right tools. A top-notch Demand-Side Platform (DSP) is essential for managing campaigns across channels, ensuring consistent messaging, and harnessing real audience data for effective targeting.
In a nutshell, CTV advertising is your ace in the hole for an effective omnichannel strategy. No jargon, just results. Your audience is watching CTV, and it’s time for your brand to shine. This is exactly the mindset Wisp tapped into. The sexual healthcare brand from the UK realized their traditional advertising methods were not yielding effective results. They diverted their attention and resources toward CTV.
Facebook Advertising Regulations vs. Omnichannel CTV Strategy
To understand the success of Wisp’s CTV campaign, it is imperative to understand the challenges faced by the company.
The Challenge
Wisp needed to boost revenue, and their existing marketing strategies just weren’t cutting it. To hit their ambitious targets, they realized they had to venture into new advertising territory, particularly in the growing realm of Connected TV (CTV). However, they had to do it without diving headfirst into unknown waters.
Their journey began by trying to ensure brand safety on social platforms, a concern shared by many in the digital advertising world. Social media platforms have been under scrutiny for spreading misinformation, thanks to algorithms. However, these algorithms, including Facebook’s, sometimes tend to block legitimate services unintentionally.
Wisp primarily caters to a female customer base, so they decided to try out digital advertising, starting with Google Search. It seemed like a logical step to reach people actively seeking online healthcare solutions. After establishing a presence through search marketing, the goal was to ascend the marketing funnel and engage new customers through social advertising. Here’s where the trouble started, especially on Facebook. Despite being fully script-certified and having all the necessary credentials, they faced roadblocks.
The hiccup with Facebook was no small matter because it was their largest social marketing platform. Wisp decided not to sit around waiting for Facebook to sort things out and got a bit more creative with their product descriptions. They also thought of targeting other channels to reach their audience.
Strategy
Wisp was determined to venture into the CTV advertising space, but they needed some technological firepower and tactical expertise to make it happen. At this point, they decided to collaborate with experts. The strategy started with targeting CTV ads across a wide array of programming. Through careful optimizations, they identified the highest-performing inventory, including platforms like Hulu, NBC Universal Streaming, Peacock TV, and Food Network.
The unique aspect?
It was all based on a cost-per-action (CPA) deal with no integration, launch, or managed service fees. Credit to this strategy, Wisp was soon able to track cross-device ad sales through the viewer’s IP address.
Also Read- FMCG Brands are Fast-tracking Their Success With CTV Advertising
Results
The results of this strategic shift were nothing short of spectacular. Within the first month of deploying the dedicated CTV strategy, Wisp saw over 5,000 orders. This innovative marketing effort contributed to a staggering 100.3% month-over-month growth in total affiliate revenue. Notably, the collaboration with the experts was also responsible for 90.2% of this impressive growth.
In essence, Wisp’s creative journey into CTV advertising, driven by a unique collaboration and clever problem-solving, not only exceeded their growth goals but also marked a successful step toward destigmatizing and desexualizing women’s healthcare needs. It’s a testament to the power of creativity and adaptability in the world of digital advertising.
Ready to Advertise The CTV Way?
CTV advertising doesn’t just enable effective omnichannel marketing, but it enhances audience targeting. With the niche audience of healthcare brands, CTV can do wonders in propelling them forward despite ad regulations across channels. As seen with Wisp, collaborations with the experts in the industry can help your cause even more. Make sure you review and analyze your target audience before launching your CTV campaign.
Need help? Contact us, 9MediaOnline, for a free consultation with our experts today!
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