Study: CTV Opening The Door For Brands To Better Connect With Black Americans
Study: CTV Opening The Door For Brands To Better Connect With Black Americans - NewsLab
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LG Ad Solutions, a provider of CTV and cross-screen advertising, today released a report titled “The Inclusive Screen: Black Americans.” Based on a survey of nearly 1,500 African American CTV users, the report foundthat CTV (connected TV) “is a pivotal environment for advertisers to connect with Black Americans in personalized and impactful ways.”
The study reveals that Black CTV users are more likely to take action after seeing an ad, with nearly half visiting a website, 29% purchasing a product and 24% visiting a store.
Black American consumers’ collective economic power is projected to expand dramatically, from about $910 billion in consumption in 2019 to $1.7 trillion by 2030, according to a report by McKinsey. The study says “this substantial buying power highlights the importance of recognizing and engaging with Black consumers in advertising and marketing strategies. Brands that effectively connect with this demographic can tap into a highly influential market, driving business growth and fostering brand loyalty.”
Monica Longoria, LG Ad Solutions head of marketing insights, said: “As the U.S. continues to become more multicultural, now is the time for marketers to be intentionally inclusive with their advertising strategies. With CTV’s advanced targeting capabilities, brands have the opportunity to market to diverse groups with messages that are authentic and relevant. Our research shows that relevance is key for driving consumer action.”
The study underscores the significance of the TV home screen as the leading source for content recommendations, with 44% of Black American viewers preferring it. This is followed closely
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