5 Reasons Your Franchise Should Advertise On CTV In 2024

Why You Should Advertise On CTV in 2024

With so many businesses making the leap to advertising on CTV, you may wonder if it’s a good fit for franchise operations. In this blog post, we explain 5 reasons why it’s a perfect fit.

There are screens everywhere these days — affordable connected monitors mean that there’s streaming video hanging on your living room wall, buzzing in your pocket, even saying “hello” while you pump gas. And if you’re part of a multi-location business, the time has come for you to get that business on as many of those screens as possible.

Short for “Connected TV,” CTV advertising has quickly become the next big thing for multi-location brands, and with good reason. CTV’s versatile options seem to be almost tailor-made for the needs of franchise businesses, combining television ads with Web display ads in a way that can very often be superior to both.

In this blog post, we discuss five of the biggest reasons that 2024 is the year you should dive in and start advertising your multi-location brand on CTV channels.

Contents

Additional Reading: CTV Advertising For Franchises: An Introduction

Precision Targeting

One of the things that makes CTV advertising so ideal for multi-location businesses is the ability to target very narrow, very specific audiences with your messaging. Unlike the old days of TV, where everyone who tuned in to watch “Judge Judy” in the afternoon got the same commercials as everyone else, with CTV your ads will only go to the specific consumers you’re targeting, by a broad range of metrics of your own choosing. 

Audience demographics, location, content type, consumer behaviors — precision targeting allows you to pay to get your ads in front of your most-likely customers, instead of paying to cast a wide net that includes a lot of disinterested parties. For multi-location businesses looking to keep advertising divvied up by things like sales territories, delivery radiuses and more, the targeting options created by CTV give you the hyper-local solutions you need. 

Higher Completion Rates

On broadcast TV, you could go to all the trouble of getting an ad on the air only for you to have no real idea how well your ads are performing. CTV has solved that problem for advertisers; the connected nature of the devices means you can measure your completion rates exactly. That’s how we know that CTV has excellent completion rates, far outstripping the more-easily-skippable online ads on computers. 

Some case studies have completion rates at 95% or higher for CTV audiences — audiences that you’ve already sifted and sorted to ensure they’ll be receptive to your messaging. So not only is the vast majority of the audience watching your ads all the way through, they’re your audience, selected based on parameters you chose yourself. It can’t get much better than that. 

Cost Of Admission

One way it does, in fact, get better than that, is the lower barrier to entry afforded by CTV compared to other, historical forms of TV advertising. It used to be that franchises would have to negotiate deals with local TV stations and cable networks, which often meant limited channel and timeslot availability — and high minimums to what you could expect to pay.

CTV has leveled the playing field, allowing even small franchise operations with modest budgets the ability to get their content in front of the shows and audiences they want. That means that a medium that was previously out of reach for franchise owners is now very much on the table. 

Reaching “Cord Cutters”

Like nomadic peoples following herds of deer and bison with the seasons, advertisers have to follow their audiences wherever they roam. And in the 21st century, “wherever” is CTV, in a big way. Known as “cord cutters,” these are viewers who’ve decided to cancel their subscription to broadcast cable-or-dish TVs, instead only opting for the streaming options available to them via connected streaming services, apps, and other internet-based content. 

Naturally, this audience skews a bit younger than the general population for now — older viewers are hanging on to their cable boxes — but the market segment is growing all the time, and the number of viewers tuning in on cable is shrinking. It’s estimated that within the next two years, there will be over 80 million cord-cutting households in the US. If you want to build a lifelong relationship with your customers, you’ve got to start while they’re young, building purchasing habits that will stick with them forever. 

Cost-Effectiveness

Thanks to the precision targeting, total viewability, and high completion rates offered by CTV, it also has the added benefit of being more cost-effective than many other advertising channels. After all, the only viewers you’re paying to see are the kinds of viewers you singled out as desirable. Assuming you know your customer base, you’ve gone from casting nets in a deep ocean to shooting fish in a barrel. 

Though CTV channels can command high CPMs, the specialized targeting means that you’re getting lower costs-per-action than ever before, whether you’re trying to bolster foot traffic, land appointment bookings, or sell products. Interactive features make it even easier, giving customers a way to convert off your ad without ever even leaving the couch. All this combines to create an incredibly cost-effective approach to advertising — and in multi-location businesses, every dollar matters. 

Final Thoughts

In conclusion, CTV is the perfect outlet for multi-location businesses, and 2024 is the year that you just can’t ignore it any longer. The audiences are growing along with the potential profits, and your brand gets to be in the driver’s seat.

If you’re a multi-location business looking to break into CTV campaigns, Balihoo has the solutions that you need. You can get started today by checking out our CTV offerings at Balihoo.TV, or you can go straight to reaching out to our team. The leader in multi-location marketing, Balihoo has tailored the CTV experience for franchise brands so that they can get every edge they can, with as few hassles as possible.

 
 

Written by
Sean Kelly, Senior Content Writer

Sean Kelly is a Senior Content Specialist, St. Louis-based engagement expert with 20 years of experience in content writing, and 8 years in adtech.

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