Brands that run campaigns on fast-growing connected TV (CTV) platforms can lower their overall media spending by retargeting viewers through other media types including digital display, video or mobile. Ad-tech company Simpli.fi recently introduced an audience retargeting tool to help lead consumers to the lower part of the purchase funnel.
“The goal of the product would be to drive higher conversions at a lower total campaign cost,” Ryan Horn, senior vice president of marketing at Simpli.fi, said in this interview with Beet.TV. “We look at this as being able to go after that upper funnel – the awareness and the branding – with the CTV ads, and then hammer that lower funnel in conversion with a variety of the other creative types.”
The streaming audience has grown in the past year with more than three quarters (82%) of U.S. TV households owning at least one CTV device. Amid growing demand for CTV ad placements, Simpli.fi this year has run more than 32,000 CTV campaigns for more than 8,200 unique advertisers, according to the company.
The addition of its retargeting product comes as Simpli.fi continues to grow with the backing of private-equity firms. Blackstone Group in June announced an investment in Simpli.fi that valued the adtech startup at $1.5 billion. Blackstone joined private-equity firm GTCR as majority shareholders in Simpli.fi.
With the approach of the holiday shopping season, Horn foresees retailers using retargeting strategies to lead consumers toward buying gifts online or at brick-and-mortar stores.
“It’s an automated process to nurture leads throughout the funnel,” he said.