By Torrey Tayenaka, below, co-founder and CEO, Sparkhouse.
Like technology, marketing strategies are always evolving with new trends and developments. In recent years – and younger generations entering the consumer market – marketing has been shifting away from traditional ads that used to dominate the television screens and billboards to digital-first strategies that resonate with the new audience.
According to Magna, the second quarter of 2024 saw an 8.7% year-over-year growth of digital advertising strategies like search, social, and short-form video. Traditional media like television, radio, and publishing was on a 4.1% decline.
Why is traditional advertising dying – and what does it mean for your marketing strategy?
The Decline of Traditional Advertising
The most significant factor in the decline of traditional media – and advertising along with it – is the rise of digital media platforms. The internet democratized information dissemination, allowing users and businesses to create, post, and share content for free. Audiences are now relying on social media platforms, online news channels, podcasts, and streaming services for news and entertainment instead of traditional channels.
If audiences are spending more time on digital channels, the ad dollars follow. Advertising revenue has been a significant income driver for traditional media outlets, but the shift to online platforms means more brands are putting their marketing budget into digital advertising to generate a return on investment. As a result, the ad revenue for traditional media channels is declining, impacting their ability to produce quality content that keeps users coming back.
In addition, consumers are looking for information online and prefer the ease and convenience of personalized content. While there are personalization options with traditional media, it’s much less versatile than digital channels and takes a “one-size-fits-all” approach that can’t compete with the tailored experiences of digital platforms.
Consumers are also bombarded with countless ads daily, leading to ad fatigue. They become desensitized and less responsive to traditional advertising tactics. They have more control over their media consumptions as well, choosing to block ads or opt for ad-free experiences on digital channels.
Finally, there’s been a monumental shift with the younger generations asserting their shopping influence. Baby Boomers and Generation X are no longer the target audience for many brands. Gen Z and Millennials, digital natives that seek a blend of physical and digital, value authenticity and transparency in brands. They want genuine connections and distrust traditional advertising. Instead, they want to interact with brands directly, which often comes from social media and other digital channels.
The Rise of Story-Driven Video Content
In contrast to traditional ads, story-driven video content has gained popularity for several reasons:
Emotional Connection
Story-driven videos are designed to engage viewers on an emotional level. By weaving narratives that resonate with the audience’s experiences, values, or aspirations, brands can create deeper and more meaningful connections that speak to Gen Z and Millennials.
Increased Engagement
A well-crafted story captures and holds the viewer’s attention. Typically, this comes in the form of entertainment, but engaging narratives from a brand can make viewers more inclined to watch the entire video, share it with others, and interact with the brand in the future.
Enhanced Authenticity
As mentioned, Gen Z and Millennials are seeking authenticity and transparency from brands. Videos that promote customer testimonials, product demonstrations, real-life stories, or behind-the-scenes content can lend authenticity to a brand, helping to build trust and credibility with the audience. They connect with the human behind the logo.
Social Media Dominance
Videos are immensely popular on social media, particularly video-first platforms like TikTok, YouTube, and Instagram. A video that tells a story is highly shareable and well suited for social media platforms, offering both visual appeal and a tug at the heartstrings that prompts viewers to like, share, and comment – expanding your brand reach.
Personalization and Relevance
Television commercials and digital billboards can show short-form video ads, but they have less versatility to tailor them to a specific audience. Social media and other digital channels allow brands to target video content to different audience segments, ensuring that it’s relevant to a viewer’s interest and needs. Ultimately, the content is more compelling and effective.
Examples of Successful Video Storytelling
There are plenty of great examples of video storytelling, but here are some highlights:
Shopify “First Sale Story”
Shopify is an ecommerce platform with high functionality to help business owners manage their online stores, but it’s much more than that. Instead of focusing on practical details, Shopify’s “First Sale Story” focused on how it feels to be a small business owner and get that first sale – the moment a dream is realized. The fun and inspirational video gave viewers something to root for.
Etsy “Unique Chess”
Another short video, Etsy’s “Unique Chess” story showcases a heartwarming relationship between a mother and son connecting over a unique, personalized gift – a dragon chess set. The ad shows what Etsy is really about, giving customers handmade or one-of-a-kind products.
eBay “Buy a Thing, Sell a Thing”
Not all stories need to be touching. Though eBay is a huge brand, the “Buy a Thing, Sell a Thing” campaign was a lighthearted, humorous, and musical story of how products move from person to person through the eBay platform. The last shot of a child wearing an oversized shirt while holding a doll she got from eBay drive the joy the eBay experience home.
Apple Watch Series 7 “911”
Apple has excelled in visual storytelling to sell products, and “911” is one of the best examples. The video features real 911 calls that were made with Apple Watches, complete with happy endings for each watch user.
Teracube Product Launch
Teracube, a sustainable phone company, created a video for the product launch and Kickstarter campaign that highlighted Patricia Practicus, an “extremely practical person” and character that discussed the benefits of a sustainable phone with wit and humor.
Shift Your Marketing Strategy
While traditional ads still have a place in marketing, more and more brands are embracing storytelling with compelling, authentic video content that captures attention and builds genuine connections with consumers. By focusing on emotional resonance, authenticity, and relevance, you can create narratives that not only captivate but connect with your target audience.
Torrey Tayenaka is the co-founder and CEO at Sparkhouse, a training video production agency. Sparkhouse is known for transforming video marketing and advertising into real conversations. Rather than hitting the consumer over the head with blatant ads, Sparkhouse creates interesting, entertaining and useful videos that enrich the lives of his clients’ customers. In addition to Sparkhouse, Torrey has also founded the companies Eva Smart Shower, Litehouse & Forge54
