The dramatic shift in consumer habits around video consumption is largely the result of more time spent online and far more options available than just "traditional" or "linear" TV.
The change is staggering: 84% of video viewers watch videos on YouTube, and Instagram and TikTok are close behind, according to a late 2021 survey. As for TV, US viewers age 18-43 spend an average of 63% of their overall TV viewing time on streaming versus cable, broadcast, or satellite video content, Gartner reports.
Couple those dramatic shifts in behavior with Nielsen's decertification by the Media Rating council last fall, and it's clear that legacy frameworks for creating TV and video strategies are not sufficient to serve marketers' needs.
So how do they create planning tools and measurement options amid massive industry fragmentation? Here are four tips.
1. Abandon the single-source-of-measurement mentality
Relying on one partner, whether Nielsen or any other, to recreate the framework for how to measure is not a realistic expectation in today's media environment. No one source can do it all in a universe that's as fragmented and evolving as video is today.
Although moving away from a long-established industry standard can feel uncomfortable, there are a lot of reasons for brands and marketers to be optimistic about where TV and video are going.
Growing channels, such as connected television (CTV) and online video, don't require the concept of a "currency" such as Nielsen for buying and measuring. Those channels are natively addressable and measurable, and they can be bought in much the same way as other digital channels that afford marketers flexibility and enhanced audience targeting options.
Therefore, brands can create their own measurement frameworks to focus on the metrics that can more predictably affect business outcomes. That opens up the world of measurement partners focused on industries and categories that cater to more relevant brand needs.
2. Consider a holistic video strategy
We know that people's behavior is changing rapidly. So too must the modern marketer's approach to reaching audiences that spend time with video.
It's not just about TV in the way that we've thought about it for so long. Today there is data-driven linear TV, addressable TV (ATV), CTV, over-the-top streaming (OTT), online video, and social.
The opportunities grow by the day, and that reality gives us a lot more tools in our kit.
The best place to start is to think about reaching your audiences where they are today. Keeping abreast of trends and examining how to maximize brand experiences on those platforms is critical when setting strategies and planning budgets.