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- All Subjects: Consulting
- Creators: W. P. Carey School of Business
- Creators: Kabra, Dev
- Member of: Barrett, The Honors College Thesis/Creative Project Collection
My thesis aims to uncover the ultimate strategy behind short form visual stories, otherwise known as the digital advertisment. In this thesis, I analyze traditional storytelling, visual storytelling, and short-form visual storytelling in order to uncover the best practices advertisers should use when crafting a digital advertisement.
Storytelling “reveals elements and images of a story while also catalyzing the imagination of the listener” (National Storytelling Network, 2017). This tradition has two purposes for society: a neurological structure, and a social mechanism (for historic preservation, human interaction, and a vehicle for connecting with others) (Gottshcall, 2012; Scott, 2012; Paul, 2012; Woodside, 2008).
Visual Storytelling is “using photography, illustration, video, (usually with a musical enhancement) to guide” the human brain along a plotline, and has an unlimited timeframe (Ron, 2017). There are seven key elements to effective visual storytelling: A listener/audience, an element of realism coupled with escapism, a focus on the dread of life, an element of the unknown, emotion, simplicity, and a three-part plot structure (Andrews, 2010; ProQuest, 2012; Zak, 2014; Stanton, 2014; Reagan, 2016; Jarvis, 2014; Petrick, 2014)
In the words of Sholmi Ron, from a marketing perspective, “Visual [short hand] Storytelling is a marketing strategy that communicates powerful ideas through a compelling story arc, with your customer at the heart of the story, and delivered through interactive and immersive visual media – in order to create profitable customer engagements" (Ron, 2017). This advertising strategy has four best practices: non-obvious logo placement, a comedic emotion, multiple emotional arcs, and a relevant message (Golan, 2017; Teixeira, 2015; Graves, 2017, Teixeira, 2017). These are important to understand because, in 2017, online consumers can be described as skeptical, conscious of content, individualistic, and drawn to authenticity (Teixeira, 2014).
To supplement my findings, I conducted primary research by analyzing the 2017 Super Bowl videos against a criteria created using the best practices previously identified (in Part 1 and Part 2). Through the data collection of the 66 videos, I uncovered the most popular plotline is "fall than rise," the most popular emotions are humor, inspiration, and empathy and people tend to have a preference towards videos that are more realistic and simplistic in nature.
In the end, I recommend that advertisers identify an authentic yet relevant message, while employing a comedic, inspirational, or empathic tone, and that they place their ads exclusively for their target market. Additionally, producers should use a fall then rise plotline (with multiple mini plot peaks and valleys), a "logo-pulsing" strategy, and a minimal amount of characters and settings to keep the audience's focus on the ad’s message.
In the end, an increase in repurchases of company stock will also influence the rate of dividends to increase. This means, an investor should not necessarily worry about the dividends they receive, but rather to see if the company is making profit at a consistent rate and reinvesting into value-added activities. Through the major pillars of finance, technology, legal, and human resources, the budget for reinvestment can be optimized by investing into these respective categories with percentages that are mindful of the specific companies needs and functions. Any firm that chooses to ensure proven methods of growth will enact a combination of these four verticals. A larger emphasis on finance will branch out efficiency in the entire organization, as finance control everything from the toilet paper to the acquisitions the company is making. The more technology is used to reduce redundancy and inefficient or costly operations, the more capability the organization will have. IT, however, comes with its technical challenges; having a team on-hand or even outsourced, to solve the critical problems to help the business continue operation. Over-reliance into technology can be detrimental to a business as well if clear processes are not set about straight to counteract problems the business will face like IT ticketing systems or recovery and continuity support. Therefore, technology will require a larger chunk of attention as well.
The upcoming legal and HR investments a company will make will depend upon its current position and thus the restructuring will differ for every firm. Each company has its own flavour and style of work. In that regard, the required legal counsel will vary; different problems will require different solutions for risk control and management, which are often professionally advised by intelligent corporate counsel. This ability to hire efficient legal counsel would not arise in the first place if a firm were to give out dividends; the leftover profit would have gone towards the shareholders and not back into growing the equity of the business. Lastly, nothing is possible without the contribution of people, and their efforts. A quality that long-lasting, successful businesses have, is they are investing in their people and development. Paying salaries, insurances, bonuses, all requires extra capital that is needed to be set aside in order to grow human capital. Good people, better people. There are qualities for each role that need to be defined and a process for attracting talent needs to be invested in. This process can also include outsourcing to an external firm who specializes in these strategies. By retaining profits internally, the company is able to stretch its legs to have further reach upon the market they work in. Financially and statistically, dividends are likely to grow as well with the increase in equity due to the increase in security an investor feels with more cash reserve and liquidity within the company.
All in all, a company should not be pressured into giving out periodic payments in predetermined timeframes, in other words a dividend, to investors even when they are insisting. Rather, pitch and prove, a new method for reinvestment within the company that will raise the value of the company, through proven methods like the value chain model, to increase the equity in the company. By expanding the scope and capability, the company is allowing for a larger target market which will reap more benefits; none of it would be possible if it had continued to give out large percentages of capital to investors as dividends. Companies, and investors, should not be worried about dividends at all as a matter of fact; an increase in stock buyback, in other words reinvesting into the company, will increase the rate of dividends anyway, due to increased confidence and capital within the company.