SANTA MONICA, Calif. – Smartphones became major drivers of ecommerce with high-touch interactions and portability that augmented the experience of online shopping. Connected televisions are similarly transactional with remote controls and QR codes that viewers scan with their camera phones, though consumer adoption is still questionable.
“We’re in literally the first inning, not to use a sports metaphor, but literally the first inning of performance television,” Jake Richardson, head of connected television at Moloco, said in this interview at the Beet Retreat Santa Monica with Beet.TV contributor Rob Williams.
“The dust hasn’t fully settled on what marketers want. You can use a QR code, but QR code scan rates are one-tenth of click-through rates, which are one one-hundredth of view rates,” Richardson said. “It’s very hard to drive a conversion that way.”
CTV also faces competition from online powerhouses such as Google, Facebook and Amazon that get the most credit for a conversion.
“What’s really important is that marketers are able to measure more and drive more of that attribution so that they can do that evaluation themselves rather than spending,” Richardson said. “In CTV, it’s a black box. Spending in linear television. It’s a black box. We know it was value add, but we don’t know how to measure it.”
Establishing better metrics are necessary for CTV to receive the credit for driving conversions.
“The hope is that we can do more and more of that across this ecosystem to keep us sort of at parity with Google, Amazon, the big tech giants,” Richardson said.
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