Seen through the lens of marketers, social TV is merely another facet of big data. Platforms like Twitter and Facebook channel millions and millions of reactions to TV and video content. Social TV analytics vendors take all this chatter, they filter it to screen out the junk, they categorize keywords and sentiment, and spit out numbers-backed insights.
By Josh Luger
Broadcasters and marketers can track audiences, their reactions to specific content, and crucially —tie all of this to their demographic data and broader interests.
This is tremendously valuable to brands and advertisers, as well as TV and movie studios.
In a new report from BI Intelligence, we discuss specifically how, and define what social TV is, analyze the most important social TV trends, examine the audience for social TV, detail how social TV is forcing broadcasters and advertisers to rethink their strategies, and look at how data vendors are slicing and dicing all that TV-linked social chatter.
Here’s an overview of how social TV is being used by advertisers and brands:
- Social TV ad campaigns: The most obvious use of social TV data is for ad campaigns that target audiences of certain TV shows on social media. Twitter’s new TV ad targeting tool is an example. One advantage of this approach is that you reach audiences that may be watching TV shows on iTunes or Hulu but aren’t being exposed to ads.
- Campaign Optimization: Social TV can help advertisers hone their ad spots based on social media feedback. A TV ad for a new smartphone focused on its great camera might fall flat, while social media is buzzing about a different feature like its screen size. Similar data would be valuable in the context of any product launch, or to a movie studio testing different film trailer versions.
- Efficient Ad Buys: An advertiser might need a large audience of a certain demographic, but may not know how to reach it cost-effectively outside of a blockbuster TV show. Social TV analytics can pinpoint less popular shows, which align closely with audience targets. Smaller advertisers might also save money by targeting audiences of blockbusters shows only on social media.
- Audience Measurement: The analysis of social media audiences and their opinions will become a key part of TV and digital audience measurement. SocialGuide, a social TV analytics service, is part of a joint venture between Nielsen and McKinsey & Company. Nielsen has also partnered with Twitter for Nielsen TV Twitter Ratings. A plethora of firms offer similar services. With so much data out there, advertisers will want to source their own metrics.
- There’s a lot at stake: $350 billion was spent on TV ads globally in 2012. If social TV can help make that advertising more effective, or help social media skim some of those dollars, the opportunity is there for social TV to become a major business in its own right.
- Defines what social TV is
- Analyzes the most important social TV trends
- Examines the audience for social TV
- Looks at how social TV is forcing broadcasters and advertisers to rethink their strategies
- Details how data vendors are slicing and dicing all that TV-linked social chatter
Source: Business Insider