Should You Stream Your Storytelling?
Author: Jasmine Waters
A slice of market promotion that has yet to be fully tapped into – who’d have thought it? Experts say exactly this for streamed ads, allowing brands to share their wares with the likes of Hulu, Amazon Prime and Roku. With an estimated 40 million using streaming services in the US alone (according to Ocean Media), an increasing number of fashion and beauty brands are making the financial jump from linear television. Could it be an ideal advertising solution for small and independent brands and what are the pitfalls?
Why are brands choosing streaming?
Following the inevitability of the pandemic, there’s been a rush to advertise on streaming services, remaining the uncrowded part of the television market. Instead of one linear channel through a TV, brands have the opportunity to connect through laptops, iPads and games consoles simultaneously, growing new and existing consumer interactions. The market doesn’t expect to stay under-used for long, as more brands turn to use it for brand-building as opposed to customer acquisition. The strategy itself is a long-term one – rarely does it equate to overnight sales. The beauty comes from building a conversation to continually educate, raising brand awareness and developing the right conditions to tell stories in a way traditional TV could never allow.
How can brands be successful doing this?
According to Deloitte, at least 76% of us are subscribed to at least one streaming subscription, and brands that have chosen to try their luck advertising there have seen a 30% uptick in website traffic so far. The goalposts for achievements have changed too, with brands choosing to appear in places that are the most ‘contextually relevant’ for them, rather than opting for where attracts the biggest numbers. The most unique positive is the fact that consumers are more likely to be completely engaged due to the nature of series binging, meaning brands can pull all the punches with real storytelling. Streamed ads are being increasingly seen as a loophole to social platform changes that can affect brands negatively – the time has now passed for eggs to only be in one basket. The downside is the lack of instantaneous gratification. There’s no big event in the world of streaming, no Olympics or awards ceremony that can be relied on to draw big crowds. Instead, it’s a case of playing it smart to build brand awareness over a longer period of time.
It’s the emphasis on storytelling ability that could make streaming the perfect fit for small and independent brands. Playing up to consumer loyalty and understanding is something that smaller brands are in a league of their own for, whilst also being more flexible and open-minded to adhere to the benefits that streaming could bring. Focussing on ads that are entertaining and enhance trends in the digital world (like ASMR) provide an outlet for brands to show an entire range at its own pace, to a seemingly endless network of subscribers.
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