Why should companies do video storytelling?
People are hardwired to love stories. Storytelling connects us and helps us understand the world better – because of the emotion weaved into them, tales engage us and convey information in a way figures, numbers or data simply cannot.
There’s one particular type of storytelling, however, that is undeniably effective at inspiring, engaging and driving action – VIDEO!
Video is one of the most powerful marketing techniques of this century: it creates a rapid, authentic mode of communication with its audience, while also bringing your brand to life. Video storytelling is the single most effective way to stand out from the competition and grow your business by appealing to the main driving force of decision-making – emotion.
But how exactly can video storytelling help your business?
Video boosts conversions and sales
People like authenticity – in fact, perceiving a brand as authentic makes 91% of consumers around the world more likely to share it with friends and family, and the majority to also purchase from the brand.
Video storytelling is a great tool for building credibility and showing a more authentic side of your company – in a sense, showcasing what’s human about your business.
The perception of authenticity automatically translates into higher revenues. A recent study found that over 57% of customers were more likely to purchase a product after they saw a video demonstration and businesses report 80% increase in conversion rates after adding a product video on their landing pages.
Shows great ROI
Video storytelling is also relatively inexpensive when accounted for the return on investment it yields. Numerous studies suggest that videos offer the best return on investment, with 83% of businesses and 52% of marketing experts agreeing with the statement.
It’s fantastic for traffic
Struggling to get quality leads to your website? One of the best-kept secrets of digital marketing is Google’s affinity for videos. On average, businesses report around 41% increase in traffic through web searches after adding a video to their landing pages.
What makes videos so engaging? Simply put, no one likes to waste their time and video storytelling can engage even the laziest of buyers. A 2014 Levels Beyond survey found that 40% of consumers preferred to watch a brand video over reading the same information. Search engines like Google know this as well which is why they ‘reward’ websites that utilize video content marketing over boring and overwhelming walls of text.
Videos also generate the most social shares thanks to a phenomenon known as emotional contagion. When someone views a video or watches a story, the way they feel automatically mirrors what’s shown on screen. Exciting product releases, emotional testimonials, authentic shots of your corporate culture trigger a desire to share the video with the world, generating you more traffic than any other type of content!
Brand awareness
In today’s overly saturated market, offering an excellent product or service is no longer enough: a business needs to stand out from its competition. Storytelling is an essential part of our daily lives and because it’s hardwired in us to enjoy telling and hearing stories, video content marketing can do wonders for your brand. Videos also help you create a cohesive brand image and organize content that might otherwise feel random.
Finally, the power of emotion!
Video storytelling is effective because it’s rooted in emotion. Only 10% of the information that is heard and 20% of the information that is seen, is retained. For content that combines the two, however, retention rates are as high as 80%.
Decision-making is rarely logical – most of the time, we choose between two options based on which one we ‘like better’. With video, you can attach a face to the concept and directly appeal to your customers’ emotions through music. Stories that appeal to the senses and emotions tap into people’s deepest feelings and establish a genuine connection.
The ability to tell a good story is thus essential for every and any business that dreams of being successful and is the key to differentiating yourself in an overly saturated market.
Help your business thrive by taking advantage of the power of video storytelling!