Many business owners avoid developing a video marketing strategy because they associate the process with being too difficult and costly. Perhaps a decade ago, they would have been right, but with today’s technology, that simply isn’t the case.
If you’re still on the fence about how much time or resources to allocate to a video marketing strategy, it’s important to first understand the value of the process. Then you can go on to developing approaches that work within your budget.
The Value of Video
One of the quickest ways to comprehend the value of any business process is to look at the numbers. A company will evaluate the return on investment, as well as other metrics, like conversions, engagement, click-through rates, etc… Then they will make an informed decision.
The point is that business is not quite the crapshoot it once was. It’s much more calculated these days. Therefore, here are a few stats about video that should demonstrate the value of formulating a video marketing strategy ASAP:
- 83% of businesses who use video stated it has a positive effect on their ROI and 82% went on to claim that a video marketing strategy was a key reason for that.
- 34% of B2C marketers identify video as crucial to their success.
- 45% of people watch an hour or more of video every day.
- Video marketers report a 54% increase in brand awareness.
- In a recent survey, 81% of marketers saw an increase in sales after using video, and 53% saw a reduction in calls for support.
Even case studies around the world will show you the power of video marketing. Supplement company Tiger Fitness reported that video marketing helped them achieve a 60% customer return rate (which is 3 times the industry standard). Tech mogul SAP reported gaining over 9 million impressions from a single video campaign. The benefits are boundless.
It’s very apparent that this is a strategy that works across the board, for any company, in any industry. That’s because it’s ultimately the preferred content format by consumers. Marketing is now customer-centric, and they call the shots. The shots are saying “video.”
Here are some of the fundamentals of building a video marketing strategy that will help you hit those awesome numbers and grow your business by leaps and bounds.
1. Define the Right Audience
Prior to developing a plan, you have to know who you’re talking to. Part of a strong video marketing strategy is knowing exactly who your audience is and/or targeting niche pockets of people for different reasons. The first step to defining your target audience is introspecting on your product/service. How does it solve a problem for your customers? What is your competition doing?
After you research, it may help to devise a few separate buyer personas to keep you on track. Especially if you are running Facebook video ads where you have to define specific audiences. The key to proper marketing is driving the conversation based on who you address. Same goes for video marketing.
2. Set Clear Objectives
Strategy requires planning and organization. You cannot have a winning marketing campaign if you don’t have definitive goals. Otherwise, how will you determine when you’ve reached the finish line? A recent study showed that 80% of people don’t set goals before starting a task, and out of the 20% that do set them, 70% of people still fail to achieve them. That’s probably because they didn’t have a clear picture in mind of what success truly meant.
In order to derive value from your affordable video marketing strategy, you must be certain you have a rich understanding of where you start and where you want to end. You can always change your goals along the way, but you will rarely reach success without any at all.
3. Create Professional Videos At An Affordable Price
The first thing business owners think of when they consider videos is how much the production will cost. It’s nobody’s fault. We’ve been conditioned by Hollywood to believe that these things require big budgets with large crews. But if you’re just shooting for a few Facebook ads and some email campaigns, what’s the point of that? An affordable video marketing strategy means knowing the tools available to get your video made faster.
A video creation platform like Promo takes the “production” out of video production. All you need is your message and logo, and then our tools can help you craft beautiful content in minutes. You simply choose from over 3.5 million high-quality videos, add professional music, add text, and then send it where it needs to go. This is the one tool you want in your back pocket for video marketing.
4. Distribution Is Everything
All of these efforts are in vain if you aren’t sure how to get your video message to the masses. Part of a clearly defined video marketing strategy is knowing where you’re going with your finished product. Your video should not be produced solely for social media marketing. There are a variety of avenues to place video content where it will be equally effective.
Placing video in an email vastly increases the open rate. Even using the word “video” in the subject line is said to perk up interests two-fold. Video can also live on your website and landing pages to drive traffic in conversions and leads. Whether it’s on your front page or peppered throughout blogs, the key to video marketing is to know that video can be posted virtually everywhere and still add to your bottom line.
Your Business Success Without a Proper Video Marketing Strategy
Videos are your golden content, so wasting them will cost you. It’s important when you want to save money with your marketing strategy that you have the proper planning in place. Don’t waste your video by waiting until the content is irrelevant or posting it on the wrong platform.
Although the realm of digital marketing seems entirely more complex than the original methods of advertising, that’s simply where your audience sits. Strong video marketing is characterized by the right target audience, clear objectives, efficient tools, and vigorous distribution. The business that understands the value of creating and committing to a video marketing strategy and takes the time to learn the process is the one that stays on top.
Keep in mind that in order to see results you need to be consistent and dedicated to creating new content to support your video marketing strategy. You should create and publish multiple videos each month in order to achieve your goals. With that, you should be ready to fail sometimes, which is ok because it takes those less successful content item to shape what works best for your audience and your business. Therefore, if you really want to stand-out online and grow your business, utilize the power of Promo to shape your best work and start creating all the videos you need.