CTV is thriving. But, so far, small and local businesses haven’t been invited to the party.
Nationwide, small businesses spend 7-10% of their topline revenue on marketing. So the cost of making commercials is way too high for many of them.
But emerging technologies promise a brighter future.
➡️ First, generative AI is leveling the playing field for video production. That’s why we created Vica: to generate ads at a much lower cost, without sacrificing the storytelling power of sight, sound and motion. AI generated ads are two orders of magnitude cheaper than traditional ads.
➡️ Second, CTV has a lift across all marketing activities, which makes budget reallocation easier to justify. Effective CTV ads create more prospects that can convert down the funnel on other channels.
We’ve already seen this shift with some of our clients, including dental offices, fitness centers, day care centers and pizzerias – all of whom are seeing positive ROAS for their CTV buys, never mind the impact on other channels claiming attribution generated from television.
Another traditional blocker for local businesses? Inefficiency in reaching your audience.
That’s also changed. We use Madhive to get really efficient with our campaigns, choosing audiences down to the zip code.
I’ll be talking more about this at Cannes Lions next week. Come join me at the Madhive lounge, where I’m recording an episode of their video series “Why Advertising is Shifting to Local.”
If anyone wants to chat about how generative AI is evolving video production, find me on the Croisette!
#localadvertising #canneslions #genai #aifilmmaking
Building Greep, FBA_Finance
1dDear Iterable Team, We're developing FBA Finance, a collaborative funding platform for SMEs, currently in a startup bootcamp with Stellar Development Foundation and Bigger Camp. Our platform uses a ROSCA model for peer-to-peer funding. We're impressed by Iterable's expertise in customer engagement and personalized communication. We believe there might be potential synergies between our platforms, particularly in leveraging data-driven insights to optimize user experiences and drive engagement within our community. We're interested in exploring potential partnerships or receiving feedback on how Iterable could enhance our customer journey. Thank you, Wisdom Agunta FBA Finance