Posted by richmediadp
When it comes to online web video content, “Once Upon A Time” is not the phrase you usually associate with small business online marketing. But the growth of online video content and popular “storytelling” videos are providing growth for this part of the industry even during a downturn in the economy. Interestingly enough, according to a recent Web Video Marketing council’s article, the development of web video content for advertising has contributed to a growth in jobs for 2011. Their study, commissioned by the IAB found that…
“Research from the Harvard Business School claims that the entire ad-supported ecosystem of the Internet contributed $530 billion and about 2 million U.S. jobs to the economy last year. The work was commissioned by the Interactive Advertising Bureau (IAB), a global non-profit representing over 500 media and technology companies.
The IAB claims its members collectively sell 86 percent of all online advertising in the U.S.
The Harvard Business School research notes that much of the growth occurred among small businesses, in reference to the job creation figure.”
While many types of video content is being produced, videos with storytelling from the customer’s point of view are becoming a more popular way of associating a brand with its product. What are these videos exactly? Whether it’s an auto manufacturing company showing customers reflecting on past memories of when they bought their very first (insert brand here) car, or a mom reflecting on the cupcakes she baked from a brand mix and how it made her feel, in essence brands are encouraging consumers to be a part of the story by recalling their own experiences.
These videos are showing up on corporate websites to humanize or personalize the corporate website’s brand. Most of these human interest stories are so popular that they show up on Facebook, Twitter and other popular social sharing sites. Take for example, Dollar Shave club’s popular video that went viral and ended up with 5 million views.
According to a Search Engine Watch blog post , what Dollar Shave Club achieved was nearly phenomenal! Search Engine Watch calculated how much this type of advertising coverage was worth to the startup business in terms of its potential advertising costs via a traditional medium. They compared it to the results that Dollar Shave Club would have gotten had they chosen to go down the more traditional and less creative way of competing within the market.
“ The average CPC (cost per click) for a group of “shave” related keywords is currently around $1.
If you’re a start-up, you don’t really want to be spending $5,140,887 in PPC within your first month. You’re unlikely to make it past the end of your first week at that rate!
But what Dollar Shave Club has achieved is to get in-front of just as many people/eyeballs, but without the associated costs that come with each click.”
Another example of an engaging small business Youtube hit, and this in the UK, was the one pound fish man as seen in the video below:
This is the power of compelling video and stories that have do to with the customer or client interacting with the product in a positive way.
The three reasons these videos are successful and what you need to consider and apply when producing your video content are:
- The videos come across as authentic if they are not done in a salesy or corporate speak way. The subject matter is believable and the informal way the person shares his memory makes the video content a lot more authentic.
- The endorsement is provided by the customer in a warm, friendly manner. When the subject in the video is telling a compelling story the endorsement seems credible even when he or she is recalling a 10 year old memory of interacting with the product.
- This type of “storytelling” video content personalizes the brand. They bring the brand down to the consumer level, which is appreciated by a prospective consumer, and proves to be very motivational.
And what small businesses and other advertisers have found is that these videos are a lot more shareable. You are not likely to send a friend or loved one a traditional commercial; but a video that is either funny, or tells a unique story with subtle branding is more likely to be socially shared.
It will be interesting to see more small business success stories as they find ways to incorporate “storytelling” videos in their small business marketing.
Photo credit: Design by Itzik Gur