Innovid Launches Instant Optimization to Maximize Converged TV Campaign Performance Automatically
As the Majority of Advertisers Plan to Increase Converged TV Spend, Innovid Closes the Gap Between TV Measurement and Campaign Optimization
Using InnovidXP Measurement, Marketers Can Now Instantly Optimize Ads in Real-Time
NEW YORK, Oct. 10, 2023 /PRNewswire/ -- Innovid (NYSE: CTV), an independent advertising platform for the delivery, personalization, and measurement of converged TV across linear, CTV, and digital, today announced the launch of Instant Optimization, a machine-learning solution that empowers converged TV marketers with the ability to immediately optimize ad performance in flight. Instant Optimization provides the essential technology to automatically adjust which ad is seen, championing top-converting ads in real-time and improving performance across streaming and digital channels.
While advances in converged TV measurement have made it possible for marketers to understand the reach and performance of campaigns in real-time, the ability to make those insights actionable has lagged. Instant Optimization bridges that disconnect, unlocking the true value of converged TV measurement insights. Expanding on Innovid's existing optimization capabilities, this new automation takes outcomes insights from the InnovidXP measurement platform and links them directly to marketers' ad-serving strategies, ensuring that the ads driving the most website and app activity get the largest share of voice.
"To remain competitive and top of mind with the right audiences, marketers need to find new ways to expand the value of their ad spend, improve ROI, and continuously optimize for performance," said Dave Helmreich, Chief Commercial Officer, Innovid. "Innovid serves as the vehicle to both understand the performance of campaigns across linear and streaming, and immediately take action on those learnings – all in one platform. Marketers can continuously learn, activate, and iterate, instantly uncovering an infinite loop of optimizations."
Across brands and agencies, Innovid is the platform of choice for streaming delivery, and it's the scale and automation of that delivery – encompassing approximately 1.2 billion ads served and 6 billion data points collected each day – that fuels InnovidXP's powerful insights and unrivaled view of the converged TV universe. With the addition of Instant Optimization, Innovid completes the final mile of measurement, allowing marketers to automatically activate against insights without waiting for human intervention or the use of multiple disparate solutions.
"There is no question that the disconnect between measurement and optimization of converged TV is leaving money on the table for brands," said Delia Marshall, Chief Operating Officer, Eicoff. "We see substantial increases in sales volume and improvement in ROI by implementing optimization at the same pace as measurement insights. While many brands have started to address their measurement challenges, we still don't see them take advantage of optimization at the same pace. It's TV that's optimized at the pace of digital. That's the big opportunity."
According to Innovid's latest report, "The Converged TV Disconnect," 56% of marketers spend more than half of their time working to optimize converged TV ad performance. Despite the time and resources devoted to that process, 60% believe their optimization efforts fall short. The reasons behind that sentiment all tie back to the measurement-activation disconnect. Nearly two-thirds (62.6%) of marketers use separate measurement and management/delivery platforms. With Instant Optimization, advertisers can finally bridge this gap, conclusively transforming their insights into actions.
"Our clients have significantly increased their investments into interactive and dynamic creatives – leveraging converged TV to drive outcomes," said Drew Olkowski, Media Director, Planning & Data Analytics, Davis Elen Advertising. "With the ability to immediately and automatically optimize, we can make those creatives work even harder for clients by guaranteeing that the best converting ad is the one seen, highlighting top messaging and continuously improving performance."
Instant Optimization joins previous enhancements to Innovid's optimization solutions, including statistical significance, which helps ensure consistent results based on statistics vs. chance, and multiple winner methodologies that accommodate various models of success, going beyond the "first past the post" approach to creative performance.
To learn more about Instant Optimization, visit www.innovid.com.
About Innovid
Innovid (NYSE: CTV) powers advertising delivery, personalization, and measurement across linear, connected TV (CTV) and digital for the world's largest brands. Through a global infrastructure that enables cross-platform ad serving, data-driven creative, and measurement, Innovid offers its clients always-on intelligence to optimize advertising investment across channels, platforms, screens, and devices. Innovid is an independent platform that leads the market in converged TV innovation, through proprietary technology and exclusive partnerships designed to reimagine TV advertising. Headquartered in New York City, Innovid serves a global client base through offices across the Americas, Europe, and Asia Pacific. To learn more, visit https://www.innovid.com/ or follow us on LinkedIn or Twitter.
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SOURCE Innovid LLC
