It’s storytime! Adventures in the growing world of vertical
There's a fundamental shift in how people are viewing and sharing content today. Facebook's Head of Travel, ANZ, Paul Nahoun, explains why storytelling and platforms that optimise it are a brand's best friend.
In the world of business, cautionary tales of missed opportunities and subsequent decline abound. You might recall Kodak, which in 2012 filed for Chapter 11 Bankruptcy protection despite having sold 90% of all photographic film and 85% of all cameras in the US in 19761.
Or the late Blockbuster, which famously turned down an offer in the year 2000 to buy Netflix2 – a steal at $50 million for the-then billion-dollar video behemoth.
These are just a few high profile examples of companies that didn’t innovate quickly enough or missed their opportunity as times and technology changed. A little harsh perhaps on Kodak – they did invent the world’s first digital camera – it was just too darn expensive for a public that was soon awash with cheaper options.
While the consequences of inaction or poor tactics in business can be severe, on the flip side, taking the initiative when consumer behaviour changes can be very rewarding. After all, the perfect time to innovate is when something new starts working.
Which brings me to the intersection of something very new and yet, as old as time itself. The combination of the two is conjuring up a very real business opportunity.
First, to the new. The world is turning its attention to the vertical. The ubiquity of mobile phones and their ever-improving functionality now means they’re our first choice for consuming visual content. You might still watch TV or see a movie in landscape format, but chances are most of the content you consume day-to-day is with your phone in an upright position.
There’s no going back either. Samsung is now even producing a vertical TV3 aimed at the millennial generation. It makes sense when you think about it. More and more people in the coming years will be consuming their favourite content in this orientation.
Now, let’s consider the old: the art of storytelling. It’s part of the human condition to share and tell stories. From the walls of ancient Egyptian temples to the Bayeaux tapestry all the way through to today’s modern handheld technology, humans have always found ways to share momentous occasions visually.
And this vertical world combined with creative sharing is where the opportunity lies. Consider this: across the Facebook Family of Apps over one billion stories are shared every single day4.
Instagram Stories, in particular, are popular with travelers and it’s not hard to see why. They provide the perfect vehicle for the creative sharer – those who have a love of style and colour – and are the ideal way to show the world the magic of that dream holiday.
Stories also lend themselves to more engaging, creative and immersive content. They hero the people within them and are authentic, interactive and highly shareable. Most important of all, consumers habitually use them to communicate with their family and friends. Brands that are following suit are much more likely to get noticed.
Tourism & Events Queensland used Stories across Instagram and Facebook to launch a global competition to win an experience to ride in the world’s first rideshare submarine. As a result, 45% of competition entries were driven from these placements.
So, given travelers the world over have embraced Stories, the question remains, why are some brands much slower to do so? The reason, I suspect, is a rigid adherence to operating in a landscape-focused world and a reluctance to take the plunge and try something new, innovative and just plain fun.
So, for those who haven’t yet been persuaded, my message is straightforward. Give it a try. Even if your business hasn’t traditionally seen the world through a vertical lens. It’s possible to spread the gospel via more than one orientation.
There’s a compelling business case to engage with the platform too. The best advertising has a great story at heart and Ipsos consumer research tells us that 52% of people are most interested in Stories that are quick and easy to understand – 50% favour ones that feature sales and promotions and 47% want to see new products introduced6.
Given the dynamic nature of today’s travel landscape – not least the ongoing impact of Coronavirus and uncertain environment – it’s more important than ever to get your message to consumers via the right medium. Don’t be like Blockbuster – seize your opportunity to get ahead while you can.
You can learn more about how to unlock the creative potential of Stories for your business by exploring Stories Can Do It.
Footnotes
- https://www.forbes.com/sites/ericsavitz/2012/01/19/kodak-files-chapter-11/#3e8f4e6c41b2
- https://www.businessinsider.com.au/blockbuster-ceo-passed-up-chance-to-buy-netflix-for-50-million-2015-7?r=US&IR=T
- https://www.cnet.com/news/samsung-sero-tv-rotates-portrait-mode-vertical-vids-like-giant-phone/
- Facebook Earnings Call, Q4, 2018
- Facebook IQ: Travel Consumer Journey Study by Accenture (Facebook-commissioned online study of 1001 respondents ages 18+, Australia, July 2018)
- Facebook Stories survey by Ipsos (Facebook-commissioned survey of 7,720 of self-reported Facebook Family of Apps Stories users ages 13-54 in Asia-Pacific: Australia, India, Indonesia, Philippines, Thailand), Aug 2018.