What’s driving the biggest changes in marketing today? Story-Driven Video Content Marketing strategies continue to evolve with new technology and consumer trends. As younger generations enter the market – with high spending power – marketing has been shifting away from traditional, polished advertising to digital-first strategies that connect with young consumers on their platforms.
In the second quarter of 2024, digital advertising strategies like social media and short-form video saw an 8.7% year-over-year growth. Television, radio, and other traditional media was on a 4.1% decline.
As digital-first strategies, and story-driven video content in particular, overtake the market and traditional approaches, here’s everything you need to know to stay ahead.
The Decline of Traditional Advertising
Traditional media has been declining over several years, including traditional advertising, in the face of digital alternatives.
The Internet’s Impact on Traditional Advertising
The internet democratized the dissemination of information, allowing users of all types to create, post, and share content at no cost. This brought consumers and brands closer together, leading to new, story-driven digital marketing strategies.
Where Audiences Are Now: Digital and Social Platforms
Audiences once relied on news stations, television, and print for news and entertainment. Today, they turn to social media, online news channels, podcasts, and streaming services, making these platforms prime destinations for story-driven video content.
Ad Dollars Follow the Consumers Online
Advertising revenue used to be a major driver for traditional media outlets, but now brands are investing in digital channels, where they can get a better return on investment. Story-driven video marketing allows them to reach audiences where they spend most of their time.
The Vicious Circle: Decline in Revenue and Viewership
It’s a vicious circle for traditional outlets. With less ad revenue coming in, they have fewer resources to continue producing quality content that keeps viewers’ attention. And without the viewership, they don’t have the leverage to attract advertising revenue.
Consumers Demand Personalization and Control
But that’s not all. Consumers are seeking information online and prefer the personalization they receive on their social feeds. Traditional media has personalization options, but it’s not nearly as versatile or tailored as digital options.
Desensitization to Traditional Ads
In addition, consumers receive constant content and ads all day. Eventually, they become desensitized to what they see and no longer respond to traditional advertising tactics. They are asserting control over their media consumption, blocking ads or paying extra for ad-free experiences wherever possible.
Millennials and Gen Z: The New Focus for Story-Driven Video Content
While there’s still some opportunity in traditional advertising, the prime audience is no longer Baby Boomers and Generation X. Millennials and Gen Z are the new focus, and these digital natives value authenticity and transparency in brands. They want genuine connections and distrust traditional advertising.
The Rise of Story-Driven Video Content
The shift from traditional to digital is more than just bringing traditional tactics into the digital space. Along with the shift to digital, the appetite for content is story-driven video format for several reasons:
Emotional Connection
Stories elicit emotions like few other types of content can. They’re designed to engage the audience and resonate with their own experiences, personal values, and aspirations. With story-driven video content, brands can use this emotion to build deep, meaningful connections that are appealing to Millennial and Gen Z audiences.
Increased Engagement
Stories that are well crafted capture the viewers’ attention and get them invested in how everything pans out. Usually, this is done through entertainment like series or movies, but your brand can harness the power of storytelling to keep your viewers’ interested in what you have to say.
Enhanced Authenticity
Millennials and Gen Z value authenticity, which is part of why they no longer want to engage with traditional ads that ring false. Videos that share authentic experiences, such as customer testimonials, real-life brand or customer success stories, behind-the-scenes content, and product demonstrations, can show the authenticity of your brand and build credibility – showing them the person behind the logo.
Social Media Dominance
Videos rose to popular on social media over time, leading to video-first platforms like TikTok and new video features on YouTube, Instagram, and Facebook. Videos that tell a story are engaging and shareable, making them ideal for social media consumption. They’re visually appealing and stand out in a crowded newsfeed, prompting viewers to like, comment, and share.
Personalization and Relevance
Short-form video content exists in traditional channels. Television commercials often tell a story, and digital billboards can support short-form video ads. However, these channels lack the versatility that digital channels like social media do, such as audience targeting. Social media channels also have the potential to reach much larger audiences than a local billboard.
Best Examples of Successful Video Storytelling
Need some inspiration? Here are some great examples of video storytelling to consider:
Teracube Product Launch
Teracube, a phone company that’s focused on sustainability, used video content to launch the product and Kickstarter campaign. The video showcases Patricia Practicus, an “extremely practical person” that talks about the benefits of a sustainable phone with a touch of humor and wit.
Shopify “First Sale Story”
The popular ecommerce platform Shopify is used by entrepreneurs to launch and manage online stores. But as any small business owner knows, it’s about more than the functionality. Shopify’s “First Sale Story” took this approach with its content. Instead of showing the practical features, the ad captures the feeling of getting that first sale and seeing your dream brought to life.
Etsy “Unique Chess”
Etsy’s “Unique Chess” story is another emotional example that’s more impactful with video. The ad shows a relationship between a mother and son bonding over a personalized gift purchased on Etsy – a dragon chess set. It distills the main purpose of Etsy into a simple message about finding handmade or unique products that are perfect gifts.
Apple Watch Series 7 “911”
Apple has some of the best video ad campaigns in the business. “911” is a great example that features real 911 calls that were made with Apple Watches. While the stakes are high in each video, they all have happy endings that you can feel good about.
eBay “Buy a Thing, Sell a Thing”
Though emotional ads that tug at the heartstrings are powerful, there are more emotions you can leverage in your video content. eBay did this perfectly with the “Buy a Thing, Sell a Thing” campaign that showed a funny, musical story of how products are transferred between people on the platform. The final shot is a child wearing a hilariously oversized shirt while holding a doll she got from eBay, driving home the fun of the experience.
Leverage Storytelling with Short-Form Video Content
Traditional ads still have power in marketing, but there’s an increasing shift toward digital-first strategies – video specifically. Leveraging storytelling with authentic video content that captivates the viewer, builds a connection, and gives them something to root for, can nurture loyal customers and brand advocates.
