The Next Challenge for Social TV Is Quantifying Success
Social TV is no longer about simply creating a platform where fans and users can talk about shows they love or the “Did that really just happen?” moment from last night’s episode. In 2015, what will give social TV value is the ability to quantify its impact on ratings and revenue.
Nearly half of all smartphone owners watch TV with a device in hand on a daily basis. A recent Nielsen study revealed that 20 percent of tablet users and 13 percent of smartphone users have purchased TV-advertised products using their second screen. Bridging that last mile between second screen engagement and converting that engagement into ROI for advertisers and marketers is the big challenge for 2015.
Looking back on 2014, the social TV landscape hasn’t changed much, but the players in the space have consolidated or cleared out. This means that powerhouses Facebook and Twitter continue to dominate while vertically focused companies such as TVTag and Beamly are fading into the background. What remains clear is that in order to survive in the social TV landscape you need to be able to join the dominant player conversation and also show TV marketers what’s in it for them.
TV networks, marketers and advertisers have long struggled to measure the monetary impact of their social media campaigns. (Just because a Twitter user tweets about a TV show using an official show hashtag doesn’t mean that they are actually tuning in, let alone buying the sponsor’s products.)
As an industry, the inability to quantify the ROI of social TV created a huge chasm. Peel saw this as a significant area of opportunity in 2014. Leveraging the wide adoption of our smart remote app, we launched products–True Tune-in advertising and our Peel.in Platform–which gave TV marketers tools to connect the dots between second-screen activity and what is happening on the TV itself. With a simple tap of a banner on their smartphone, consumers can change the channel on their TV, program their DVR or set a watch later reminder. Read more