CTV users wish TV ads had seamless option to buy products

lg-ad-solutions-ctv-users-survey-2024-a

A majority 53% of CTV users wish all TV ads had a quick option to buy the product and 63% wish they could see store/brand inventory from their TV.

That’s according to a new survey from LG Ad Solutions, a global leader in connected TV (CTV) and cross-screen advertising, which today released the findings of its latest streaming survey: “The Shoppable TV Report: 2024 and Beyond”.

CTV users want seamless purchase options

“While marketers have long understood the impact of reaching audiences via the largest screen of the house, the rise of shoppable ads unlocks an even more direct pathway to consumers” said Ed Wale, VP Europe, at LG Ad Solutions.

“The TV experience is no longer simply a passive format that sits outside of other digital channels, becoming highly connected and interactive.

“This revolutionary development enables marketers to employ a more holistic and connected approach to their campaigns, and offer audiences a more convenient way to shop.”

The study surveyed more than 1,200 US consumers to determine their perceptions of shoppable TV advertisements and subsequent purchasing behavior.

Among CTV users, 81% are influenced by TV ads in their shopping decisions and 63% often discover new brands and products through TV ads.

Beyond influence and product discovery, 47% have made a purchase after seeing a TV ad in the past three months.

Of those consumers, most (56%) completed a purchase using their mobile phone, followed by laptop/desktop (45%), in-store (31%), tablets (31%) and on CTV (29%).

The survey also revealed:

  • Consumers like QR codes: 7 in 10 viewers like TV ad creatives that include a QR code, with 62% open to scanning a QR code on a TV ad in the next 12 months and 38% likely to make a purchase after scanning a QR code on a TV ad. Additionally, 49% say they will scan a QR code on a TV ad to take advantage of a discount.
  • But QR codes must be made more effective with personalization: The primary reason consumers don’t scan QR codes on TV ads is a lack of interest in the product or brand (70%). Additionally, respondents note that the ad did not appear for long enough (21%), their phone/tablet was out of reach (13%), they don’t know how to scan a QR code (10%) and there was no discount code (8%) as reasons why they didn’t scan.
  • Shoppable TV reaches consumers throughout the purchase funnel: By category, Clothing/Apparel and Electronics showed the highest engagement/attention potential with Shoppable TV ads, while Grocery/CPG, Restaurants, and TV/Film represent the largest opportunities for purchase intention using QR codes in creative.

Tony Marlow, CMO at LG Ad Solutions, said: “The study’s finding that relevance is consumers’ overwhelming impetus behind scanning or purchasing after seeing a TV ad, highlights advertisers’ need for accurate audience targeting.

“Marketers need to take advantage of niche audience datasets, such as consumer purchase and ACR segments, available in our LoopIQ solution, to create personalised and interactive shoppable ad experiences within CTV environments that will drive better engagement and outcomes for both advertisers and consumers.”