The Madness of Advertising
With over 11.3 million viewers last year, advertisers can target users on a larger scale. As one of the most popular sporting event of the year, the NCAA Tournament gives advertisers a unique opportunity to drive ad spend through the roof. Here are three pieces of evidence that support this trend.
March Madness has generated $8.2 billion in TV ad revenue since 2006: If you needed any proof that the NCAA Tournament drives engagement and spend, look no further. According to ITB, this event is incomparable when discussing it amongst other big sporting events such as the Super Bowl or NBA Playoffs. As the mobile landscape has developed, mobile apps related to sporting events, including the NCAA Tournament, have grown significantly. As a result, television and mobile advertising revenue has risen at an exponential level. Check out below how Capital One is using the tournament as a platform.
Time-sensitive apps perform extremely well: Apps that are tailored around a specific event, i.e. the NCAA Tournament, encourage users to engage with event-related content. According to Adam Grow, general manager and senior vice president of Rakuten Display, said “These apps have the possibility of delivering tailored ads to a very specific audience, as strategies like hyper-local targeting and real-time, in-app advertising engage the most interested consumers within an already relevant mass audience – including those who never walk by a booth or banner, and those live-streaming the event from home.” These mobile apps are designed specifically for sports fans, and March is the absolute perfect time to target these users.
89% of apps analyzed were able to connect with ad networks and display in-app advertising: According to EnterpriseAppsTech, app developers of NCAA Tournament specific apps have engaged users more effectively through in-app advertising. Like many other apps in the marketplace, advertisers are able to track and analyze engagement but with more certainty. The exclusivity of mobile apps that pertain to the NCAA Tournament have proven to drive engagement and viewership.
This time of the year sports fans are driven crazy by the madness of the NCAA Tournament. Much like those sports fans, advertisers often have difficulty driving engagement and increasing revenue of their mobile apps. However, we’ve seen in the early stages of 2016 that there are opportunities for collaboration that will result in revenue for both parties.