Here’s a cheerful truth to kick off the holidays: If you’re not using video as a marketing tool yet, you’re falling behind—and fast.
That’s right. Last year, survey said 81% of businesses were already on the video bandwagon and 51% said video had the best ROI of any marketing tactic.
If you’re familiar with the stats, that may come as no surprise. Research shows that video:
- Increases organic search traffic by 157%
- Generates 1200% more shares on social media
- Increases email click rates by as much as 300%
So when we tell you that video can change your life, we mean it. Because wouldn’t we all like to go back to the c-suite with 1200% more social shares or 157% more traffic?
Of course, it’s not as simple as pushing record and tossing up a video. We’re not saying video is a magic button that’ll fix your pipeline with a simple flick of your wrist.
Doing video is one thing. But doing video right—that’s where you’ll see the results.
So what does it take to get it right and push your own stats skyward? Well…
First comes budget
We’ve all heard the old adage “you have to spend money to make money,” and video is another place where that holds true.
Good video isn’t cheap. Live production in particular will make costs skyrocket. And with more and more brands knocking video production out of the park, gone are the days when you could toss up something half-assed and generate interest.
If that sounds scary, the good news is that not all video pricing is created equal. Animated videos are typically cheaper than live action. Stock video, stock images, and user-generated video can add variety without breaking the bank.
Plus, animated video can be just as helpful and compelling as its live-action sister.
So what do we mean when we say good video isn’t cheap? Estimates range all the way from $1,200 to $50,000, with the typical video coming in under $10,000.
Actually…first comes story
When it comes to video, budget is vital. But story is even more vital.
You can make the most beautiful video in the world, spend tens of thousands of dollars on it, and if it doesn’t have a compelling story, it’s going to fall flat.
Which is why, even though most compelling video also comes with high production quality, you can still find examples of effective videos produced for next to nothing. Like Blendtec’s viral Will It Blend videos—the first of which cost them about $50 to produce.
In the case of Blendtec, the story was that this blender can blend. It’s strong. Your puny fruits and veggies aren’t going to stop this powerhouse. And we’ll prove it…by blending up marbles.
Take a look at other viral videos and you’ll find the story is always what’s carrying them through—from Android’s “better together” animal-best-friends video, whose story is about connecting to those you love, even if they’re different from you, to Dove’s real beauty sketches, with its story about the power of seeing yourself through someone else’s eyes.
Show me a viral marketing video, and I will show you a great story. Budget matters, but story is your trump card.
Now, there are more ingredients to good video than simply story and budget. Length matters (hint: shorter is usually better). Timing matters. Cultural context matters. Your strategy for getting that video out into the world matters.
And if that all sounds a little daunting but also exciting? That’s what we’re here for. Reach out anytime. We’d love to help you navigate video (or whatever other marketing tactics are keeping you up at night).