Majority of marketers ignoring connected TV advertising opportunity
Michelle Clancy ©RapidTVNews | 13-10-2011
A full 88 % of marketers have no strategy for IPTV, connected TVs and devices, according the Internet Advertising Bureau (IAB) and multichannel video ad agency Adjust Your Set.
According to Marketing Week, the research revealed that fewer than one in 10 marketers have developed a strategy to place next-gen advertising on connected devices, despite predictions that global sales of the will surpass 100 million by 2014.
Connected TVs offer brands the chance to connect their offline spend with the rapidly growing online content market, with apps or targeted ad campaigns on the electronic programming guide or home screen.
“It’s clear the industry considers the platform a significant leap for online advertising, but it has also become apparent that like so many other technological developments we’re waiting for the customer to leap first,” said Jack Wallington, head of industry programmes for the IAB.
Even so, most marketers (85%) are interested in the IPTV/connected TV advertising opportunity, but one fifth (22%) have no plans to implement a plan, according to the survey results.
As far as budget allocations, more than a third of respondents felt investments in the platform should top out around $78,000.
The findings in the report were compiled from a survey of more than 200 IAB Members. Its members include Unilever, Google, British Airways and Coca-Cola.
Internet-connected televisions from Samsung, LG and Sony, are predicted to make up to 90% of the TV market by 2014, with global sales reaching 123 million, according to Futuresource Consulting. Meanwhile, over the top (OTT) consoles like Roku and Boxee are spurring the connected TV phenomenon.