As we approach the end of the year, many companies are facing the reality of their budget, whether that means cutting back on additional spending or looking for ways to cash in excess marketing dollars before the new year.
If you should find your organization in the latter category, you’re not alone. But how can you get the most value out of that remaining budget? We’d argue that video production is your best option.
The whole world of marketing is turning to video – from social media platforms favoring video content, to video becoming the preferred method of online learning and communication. Don’t miss out on the powerful opportunity that is video content for your business!
The Power of Video
According to 86% of video marketers, video has been highly effective for generating leads for their businesses or clients. So it’s no surprise that video is taking over as the fastest-growing medium for communication, education, and entertainment. Put simply, it works!
Video content can be used in a variety of ways to grow your business, both internally and externally. On the sales side, video can showcase products, services, testimonials, and more that will allow your potential customer an insider look and, hopefully, the confidence to make a purchase. Inside your business, video is an excellent way to train, communicate, inform, and connect with your employees and existing clients.
The options are endless, and so are the opportunities to make those last remaining marketing dollars stretch further than a spontaneous last-minute ad spend.
Types of Video to Choose
Depending on your budget allocation so far in 2022, it’s possible your team may be working with a smaller amount of leftover marketing funds, or potentially a large sum at this point in the year. Regardless of your purchasing power, you’ll find that there are solutions readily available to incorporate meaningful video content into your marketing strategy at any price point.
$ – DIY Video Content
It’s no secret that professional video production tends to be the largest portion of the cost of video for most businesses. Whether that’s an in-house team, or a hired video production company, the high-end equipment and software comes at a price.
But if you’re willing to put in the leg work, and are aiming for more low-key authentic video, you may not need to spend much money at all. With the camera on most smartphones having evolved so much in recent years, you can get started creating solid video content with equipment you may already have at your disposal.
$$ – Explainer Video or Testimonial
These mid-length videos tend to be only a few minutes long, but are fantastic for capturing potential customers in their decision making process and push them over the edge into making a purchase.
For example, an explainer video can take an otherwise confusing product or process and simplify it, showing the potential buyer just how it can benefit them in a simple, visual way.
$$$ – Brand Film or Project Overview
Longer-form, big production style videos like brand films and project overview videos tend to be on the higher end of a video budget as they can require a big production crew, actors, various locations, sets, props, wardrobe, makeup, etc.
A brand film might showcase the mission and vision of the organization, or maybe feature the impact that the organization has had on the industry. Maybe your brand film focuses on working for your company and is used in recruitment. Or perhaps an overview of a specific initiative or event is more in line with what you’re looking for.
$$$$ – Video Ads
Coming in at the highest price point, on average, is advertising content. Even though ads are sometimes on the shorter end as far as video length, there is a tremendous amount of strategy, brainstorming, and overall preparation in addition to props, actors, etc. that factors into the final cost.
The reason for all of the pre-production is fairly simple. In order to produce an ad that results in a decent ROI, you’ll want to invest the extra time and effort (and therefore money) into a high-quality piece of content that will perform. While these videos are costly, they also tend to get results if they are adequately planned and executed.
Mix and Match
No matter the size of your budget, there is a video marketing strategy to maximize your marketing dollars and goals alike.
The very best approach to video marketing uses several types of video content in a cohesive strategy, so don’t be afraid to play around with your extra marketing budget and see how video may play a larger role for your organization in the coming years. One way to ensure this is to work with a video production team who’s done it all. Learn more about our video production services here.