3 WAYS COMPANIES ARE WASTING MONEY ON VIDEO MARKETING IN 2019
It has never been easier to get great video content for your companies marketing projects.
Prices for video production have come down significantly in the last several years, this combined with faster internet speeds and more video-centric consumer habits means getting your customers to watch your videos has also never been simpler.
Time after time however we still see companies wasting their money on video, here’s the top 3 costly mistakes we see on and what you can do to make sure it doesn’t happen to you.
PRODUCTION TO AD SPEND RATIO
If you spend £2000 on a video, be prepared to spend another £2000 getting it seen by your potential customers. Videos need to be seen by people to work, and in todays marketing landscape you need to pay to play.
Too often companies make this fatal error right at the initial budgeting stage of their project. If your production/distribution budget is heavily weighted on the side of production then you could be setting yourself up for failure big time.
You see it time and time again, a wonderful expensive £5000 video sitting on a forgotten Youtube channel with 296 views and a marketing team scratching their heads wondering why they’re not seeing some ROI.
Right from the start any video project, start asking questions like:
- Where exactly will my be video be seen. Facebook? Instagram? Youtube?
- What does a 10 second view roughly cost on that platform for a business in my sector?
- How important is general brand awareness (views) compared to direct purchases (conversions)?
From there you can start working out what your distribution budget needs to be which will leave you with a much more realistic production budget to work with.
QUALITY OF PRODUCTION
How good does the video NEED to be? Sometimes the best marketing videos are ones shot on a iPhone, because they are honest.
It might come as a bit of a shock, the high end video production guys saying don’t spend money on high end video production. That’s because we encourage our clients to invest in content that actually works for their business.
Don’t get suckered in by the 4K this and the image stabilised that. Sometimes it’s nice to get a drone in when there is cash to burn, but not all companies have that luxury. Going back to basics and truly answering the question ‘what does this video need to do, and at what cost?’ usually results in less explosions and CGI but a more profitable marketing campaign.
NUMBER OF EDITS
It’s simple math.
If I spend £500 having a someone come and film at my company for a day, then I pay £250 to get one ‘feature’ video edited, I have spent £750 on one really good video. Great.
What if I spend £500 on editing, I could have one feature video edited along with 3 other clips made the other footage shot that day, those videos could then be used in other parts of my marketing campaign. Now I’ve spent £1000 on one really good video and 3 other useful pieces of marketing content.
Planning a filming day so that there are several pieces of content being harvested from it is a great technique for companies to maximise their production budget. Always consider what else can be filmed, a testimonial a client, a welcome video from the boss, a ‘how to use this product’ video perhaps.
GOT ANY QUESTIONS?
We are happy to answer any questions you might have about video marketing - if you're considering getting a video made to making the most out of the one you already have, just drop me (Ed) a line at email@example.com