I think it’s awesome that more and more organizations around the world are starting to see the benefits of video marketing. However, what I find slightly alarming is how some organizations treat video as an expense, something on their income statement that should be reduced whenever possible, rather than an investment in their brand. While there is nothing wrong with getting more value for your money, the problem is that the old adage “you get what you pay for” starts to come into play.
In my opinion, companies should view video as an investment in their business in hopes of actually receiving some type of return and more importantly, a true reflection of the organization’s values and value proposition. With that in mind, here are:
3 Tips to Help You Get the Most Out of Your Video Investment
A wildly successful video marketing or advertising strategy takes a great deal of planning, and there are some essential elements that need to be in place to make sure you are moving in the right direction:
1. Have a Goal for Your Video
How will you ever know if got any positive ROI, if you don’t know why you created your video in the first place? After you’ve finished oohing and aahing over how beautiful it looks it’s time to put it to the test with your audience…you’ve gotten some views, maybe you’ve gotten a lot of views, that’s great, but now what? How do you know if your video was successful? It goes back to your goals for the video and the KPIs you’ve selected that define your success. Have you seen an increase in sales? Have you seen a change in behavior from your audience? Have you been able to decrease costs? Defining success depends on what you wanted in the first place.
"Would you tell me, please, which way I ought to go from here?"
"That depends a good deal on where you want to get to," said the Cat.
"I don't much care where –" said Alice.
"Then it doesn't matter which way you go," said the Cat.
~Alice’s Adventures in Wonderland by Lewis Carroll
2. Have a Solid Content Marketing Strategy
The more you understand how video fits into your overall marketing strategy the more benefits you can extract from the process. Taking a bird’s eye view of your marketing plan allows you position your video during times that take advantage of your organization’s peaks and valleys in terms of sales cycles or current news trends. Having an inventory of more than one video allows you to keep engaging your audience on a regular basis, which leads to other significant perks down the line.
3. Make 3 Videos Instead of Just One
If you do a great job of creating a solid editorial calendar for your content marketing, it allows you get to get some economies of scale out of your video production. Typically, productions work on a fixed cost-per-day basis. However, with a little ingenuity you can increase your production in terms of filming and editing a tiny bit more and thus get more video content than just the one you initially planned. We recently did this with a client of ours, and ended up with six fantastic videos instead of just one.
Seeing your video as an investment will go a long way in helping you effectively get your key messaging out to your audience and actually help you to get more bang for your buck. Until next time!