Rao was speaking at the fifth edition of HT Brand Studio Live—a series that gets the brains behind India’s top brands to decode marketing innovations and more.
The event is webcast from the HT newsroom, and is co-hosted by HT Brand Studio and DMAasia.
This time, the theme was ‘The future of video in the age of the smartphone’. The show thus sought to decipher how brands can harness the power of videos to not only amplify their campaigns, but also to appeal to the emotions of consumers who are always on their smartphones.
“Youngsters are becoming increasingly restless; they don’t want to wait for a solution to a problem. A video can, however, instantly guide them on the simplest of tasks," said Rao, while citing an example of how if a vehicle breaks down, a digitally-savvy person today would look up a DIY auto repair video on her phone and not immediately hire a mechanic.
In the light of more people today watching videos on their smartphones than television, Anjali Malhotra Nanda, Chief Customer, Marketing and Digital Officer, Aviva India, said, “This is primarily because of the convenience that a phone offers to a person."
Nanda also outlined how videos allow brands to talk about only one product and yet, reach out to different sets of customers.
“It is truly the golden age of video consumption in India," said Rajiv Bansal, CEO, HT Digital Streams. “The format is immersive, and can be accessed by people of varying degrees of literacy."
Highlighting a case study, Gaurav Mehta, Chief Marketing Officer, GirnarSoft, said that with the rise of video marketing, there has been a 60% reduction in the time taken by customers to buy a car.
The positive potential of video storytelling was also brought to light by Tarun Garg, Executive Director-Marketing & Logistics, Maruti Suzuki India Ltd, who said, “Today, 43% of consumers watch videos online before buying a car. These are our ‘smart’ customers who are more evolved than ever, and have lots of options to choose from."
Garg went on to outline how Maruti tapped into this customer base by creating immersive or 360-degree videos—as in the case of the NEXA Blue, a signature shade created for NEXA cars.
The opportunities of video storytelling in the automobile industry were also explored by Sudeep Narayan, Director- PR & Corporate Communications, Volvo Cars India.
“Videos are especially helpful in the case of rollover or crash tests. After all, you cannot just talk to your customers about car safety. You also have to demonstrate it to them," emphasized Narayan.
Answering how brands can ensure that their videos are instant hits, Sumeet Sumeet Singh, Chief Marketing Officer, Info Edge, said, “The success of your video depends not just on the platform that you choose to have it on. It also depends on when you choose to have it on the platform."
Elaborating on this, Elizabeth Venkataraman, Executive Vice President – Marketing, Kotak Mahindra Bank said prime-time mobile video viewing is the highest during morning and evening hours, when most consumers are either going to work or returning from work.
The brand custodians also stressed on the importance of creating engaging videos, as consumers today have a short attention span.
“At the end of the day, a video is successful if it is share-worthy. If your video is shared, your brand automatically becomes a part of your consumers’ conversations," summarized Aashish Chopra, Vice President- Content Marketing, ixigo.
To watch the previous four episodes of Brand Studio Live, please click here.