For Connected TV Advertisers, Performance Blooms in Spring


  • 82% of households made Spring Black Friday purchases in 2023.

  • As the weather heated up, so did CTV advertiser performance — from March through May, revenue increased monthly for fashion and apparel, home and garden, shopping, and travel brands.

  • Specific seasonal moments produced results — spring-focused brands experienced revenue spikes around St. Patrick’s Day, the Spring Equinox, Mother’s Day, and Memorial Day.

  • Advertisers who invested more in CTV saw big payoffs — average conversions, average revenue, average visit rate, visits per advertisers, and impressions per advertiser grew by double-digits YoY.

For most brands, the winter holidays are key to increasing business, but there’s a lesser-known seasonal event gaining momentum with advertisers and consumers alike: Spring Black Friday (SBF). Unlike its predecessor, SBF isn’t just one day. Instead, it encompasses all the annual springtime promotions and sales that run in March and April, primarily by brands in the home and garden industry.

In 2023, U.S. consumer spend on SBF deals peaked in mid-April. And while home and garden sales are no longer spiking the way they did during COVID-19 lockdowns, 82% of households still made SBF purchases in 2023.

That home and garden business bump makes sense for spring, as the weather improves and people get to work on home improvement projects and spring cleaning. But this vertical isn’t the only one flourishing — multiple industries see a performance lift in the springtime, with seasonal moments like Spring Break, Mother’s Day, and Memorial Day driving consumer spend on travel, fashion and apparel, recreation, and more.

At MNTN, we’re lucky to have an array of first party data at our fingertips. We did a deep-dive analysis on spring-adjacent brands who have advertised on Connected TV (CTV) and we found that while some advertisers struggle to gain momentum at the beginning of the calendar year, as the months progress, so do results. Read on to gain expert insights on how spring can sprout meaningful performance for advertisers.

Deep Dive: Connected TV Advertiser Performance March Through May 2023

We wanted to better understand how advertisers with an obvious tie-in to spring, and who could benefit from running campaigns during this time period, fare during the season. To do this, we analyzed performance data from March 1 – May 31, 2023 of MNTN customers in the following industries: fashion and apparel, hobbies and interests, home and garden, recreation, travel, and shopping.

Performance Increases With the Temperatures

As temperatures around much of the U.S. started to heat up, so did advertiser performance. While March was a great kickoff point for many brands, results really amped up as the season progressed.

From March through May, revenue grew each month for fashion and apparel, home and garden, shopping, and travel brands.

Spring-focused CTV advertisers also experienced their strongest conversion rates in April and May. May produced the best conversion rates for fashion and apparel, hobbies and interests, recreation, shopping, and travel brands, while the home and garden industry saw their highest conversion rates in April. The fact that conversion rates peaked in April for those in the home and garden space should come as no surprise — this aligns with the aforementioned timing of top consumer spend during Spring Black Friday promotions.

Though revenue and conversion rates grew as spring progressed, one key metric decreased for the better: cost per acquisition (CPA) was lowest in May for all spring-focused industries.

These findings highlight how beneficial it is for advertisers to stay consistent with their CTV efforts, especially throughout springtime. With the season in full swing in April and May, previous ad touch points, paired with consumers being in the mood to spend on seasonal-specific goods and experiences, make for a productive time for advertisers. And efficient, consistent campaigns result in meaningful performance.

Specific Seasonal Moments and Holidays Generate Results

Spring as a whole was a bountiful season for advertisers, but we wanted to drill down further to see which moments or holidays, if any, produced the best revenue. Here’s what we found:

Spring-focused brands enjoyed notable revenue bumps around St. Patrick’s Day and the Spring Equinox. We know, we just said that performance overall really started picking up for advertisers in April and May — but this finding shows us that March can be fruitful for brands, too. Advertisers in spring-adjacent industries saw notable increases in revenue between March 17 and 21. Two events fall in this timeframe: St. Patrick’s Day and the Spring Equinox (the first official day of spring).

While neither might seem like a particularly consumer-driven holiday, consider that the majority (88%) of those who celebrate said that they’d buy something for their 2023 St. Patrick’s Day festivities. And the first official day of spring is a great moment for brands to promote messaging around the seasons and weather changing, encouraging consumers to update their spring wardrobes, prepare for spring cleaning, return to their favorite outdoor activities, and so on.

Earth Day was big for fashion and apparel and recreation advertisers. Over the last few years sustainability has become more important to consumers of all ages. And while buyer sentiment has wavered when it comes to how much one is willing to spend to support “green” brands, a recent Harvard Business Review report argues that a major shift is on its way, with sustainability-focused brands coming out on top.

In our own analysis, we found that fashion and apparel and recreation brands all experienced revenue growth around Earth Day 2023. This can likely be attributed to sustainability-focused advertising and/or campaigns urging consumers to get outside. While “greenwashing” is out, mindful, eco-focused messaging is in. Major fashion and apparel brands like The North Face and Rothy’s have already taken steps on this front, promoting sustainability in their Earth Day campaigns.

All spring-centric industries saw a lift on or around Mother’s Day and Memorial Day. These spring holidays might be known for fashion retailer promotions, but we found that they actually produced significant increases in revenue across all spring-focused industries. Memorial Day sales, in particular, drove impressive results. Advertisers in the fashion and apparel, shopping, home and garden, travel, and recreation industries experienced their highest springtime revenue days leading up to, on, or shortly after Memorial Day.

Advertisers Who Invest in CTV See Major Year-Over-Year Payoffs

In addition to key performance metrics improving throughout spring 2023, advertisers who invested more in CTV saw notable year-over-year (YoY) growth.

When comparing advertiser performance March 1 – May 31, 2023 to the same period in 2022, we found that spring-focused brands spent 35% more overall on their CTV efforts in 2023 — and this budget increase paid off. Each of the following key metrics grew by double digits YoY:

These results not only indicate that increased investment in CTV can be beneficial, they also speak to the channel’s full-funnel potential. While lower-funnel performance metrics like average conversions and revenue increased YoY, so did visits per advertiser — which underscores CTV’s effectiveness at driving awareness among engaged audiences. Many may still see linear television advertising as the ultimate reach channel, but CTV has proved itself to be effective on this front as well.

Spring-Focused Brands vs. Other Advertisers

As we’ve highlighted here, advertisers with an obvious tie-in to spring have benefited from running CTV campaigns throughout the season. But what about brands that don’t fall in that spring-adjacent bucket? To understand this, we also analyzed the performance of all MNTN customers who advertised between March 1 – May 31, 2023.

When looking at revenue data during this time period, five of the top ten industries were associated with the spring season — fashion and apparel, shopping, home and garden, travel, recreation and hobbies — but the other five on the list weren’t.

As we dug even further into this data, the variety of advertisers became even more apparent. Among the top revenue-driving brands in spring 2023 were:

  • A major international airline 
  • A paint-and-sip business 
  • A travel site for finding airfare deals 
  • A trampoline park 
  • A purveyor of essential oils and diffusers 
  • A lingerie company 
  • A truck accessories manufacturer 
  • A workwear and apparel brand 
  • A baby clothing company 
  • A website for purchasing last-minute tickets to Broadway shows

This all to say: while advertisers with obvious tie-ins to the season can benefit from running CTV campaigns in spring, so can any brand.

Strong Springtime Performance Starts With Consistent CTV Efforts

Spring 2023 produced strong performance for a variety of advertisers, and it’s looking like 2024 will follow suit. With the economy predicted to stabilize, retail sales are projected to grow by ~$200 billion in 2024. Additionally, the travel industry is set to have one of its best years yet — 91% of U.S. consumers plan to travel domestically, and 50% will take international trips, with 40% reporting that they’ll spend more on travel than they did in 2023. Movies and live performances are also expected to have a standout year, with sales growing by an estimated 31% in 2024.

Advertising on Connected TV in the spring has proven an effective way for all kinds of brands to drive business. But advertisers who want long-term, full-funnel results need to be strategic in their approach to the channel. For the best possible performance, advertisers should consistently invest time and resources into CTV efforts starting in March. This way, when major revenue-driving moments like Mother’s Day and Memorial Day come up, campaigns are set and humming along — and performance is ready to take off.

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