Video Storytelling: Driving Brands' Success

Umang Srivastava Jan 05, 2023

For decades, marketers and advertisers have leveraged storytelling to connect better with their audiences. And, as the video format has evolved, brands are using video storytelling to stand out in today's cluttered marketing landscape.

Video storytelling is a boon for brands as visuals elicit emotions and influence consumers' decision-making. It can also help brands establish themselves as an industry thought leaders, giving them an edge over their competitors. According to a study, video is the fastest-growing segment of digital marketing, with a 6.5 per cent CAGR, expected to reach USD 45.6 billion by 2025.

Video Storytelling vis-à-vis Brand Messaging

Video storytelling uses a narrative to deliver a brand's marketing message subtly. Unlike product-focused video marketing, video storytelling focuses on engaging with the audience and building an emotional connection. Furthermore, with advancements such as video shopping features, brands can offer more immersive shopping experiences to their customers. A captivating video focusing on the story rather than the product can enhance brand reputation, drive engagement and convert prospects into buyers.

Why do brands favour video storytelling over others?

Conveys ideas more effectively than words

Too much media content overwhelms a person's ability to recall all they come across daily, especially now that they have learnt to skim. That's where video storytelling can help brands communicate ideas and messages intriguingly and creatively. It can aid brands in engaging their target audience in different ways, from their website to massive social media campaigns. For example, a creative landing page video can boost conversions, while explainer/informative videos can help the audience better comprehend the brand's offerings.

Shoppable videos are gaining popularity

Shoppable videos are one of the most significant developments, as brands can now incorporate product links to their products in the videos to create more engaging experiences. They are effective for many reasons, including reducing the steps a consumer must take to make a purchase, improving user experience and helping brands in weaving and narrating a story around their products and services. With brands shifting towards using immersive video storytelling, we can expect shoppable videos to become increasingly popular in the times ahead.

Influencers Leveraging Video Content

Video content, particularly short video formats, has been a major contributing factor in the success of influencer marketing. Short video formats like Instagram Reels enable brands to interact with their target audiences more effectively through creators and influencers.

Furthermore, live streaming has elevated audience engagement to a whole new level. Influencers (especially micro-influencers) leverage video storytelling to create videos that resonate with the wider audience and help drive engagement.

Many big brands have mastered the art of video storytelling. Mcdonald's, Tesla, Nike, and Apple are some brand examples that use the “show, don’t tell” approach. Hyundai's "Hyundai| Celebrating 20 Years of Brilliant Moments|Duty" video tells the story of "Army with Santro," which taps into an entirely different set of emotions. The YouTube video has garnered a whopping 203 million views.

Over to the Readers

Statistics reveal that a brand's social media presence influences consumers’ purchase decisions. According to a Deloitte report, consumers influenced by social media are four times more likely to spend more on purchases. Furthermore, the impact might be so intense that 29 per cent of consumers are more inclined to buy on the same day they use social media. This number alone demonstrates how popular videos are becoming over time. Brands have also realised the potential of video storytelling and the strategy has gained tremendous traction in recent years.

It is an enthralling and powerful marketing tool as it blends the power of sound, vision, and storytelling to bring a brand's offerings to life. Furthermore, interactive videos broaden storytelling horizons by engaging customers in a world where skimming and scrolling have become the norm.