Content Marketing & Film Resource | video marketing budget

Supercharge Your Strategy: 5 Reasons to Invest Big in Video for 2024

Erin Hayes September 19, 2023 Content Marketing, video marketing budget, marketing strategy Leave a Comment

Why should you invest more in video in 2024? Well, the answer is simple - video isn't just the future of content marketing...it's the Present of content marketing. Attention spans are shorter than ever and video has become the most effective way to capture and hold your audience's attention.

Here are 5 clear reasons why your business should invest more in video content creation in 2024.

1. Video has taken over the internet.

People spend hours daily watching videos on platforms like TikTok, YouTube, and Instagram for entertainment, education, or inspiration. If your business is not leveraging the power of video, you're missing out on a massive opportunity to connect with potential customers.

2. Video has the ability to show, not tell.

While text and images can be informative, they often fail to convey the true value and experience of a product or service. Videos, on the other hand, allow businesses to demonstrate their offerings in a way that is engaging and immersive. By giving your audience a virtual test drive of what you're offering, you can build trust and credibility, ultimately driving more conversions and sales.

3. Videos create a personal connection with your audience.

Unlike traditional sales pitches, which can come across as pushy or impersonal, videos allow you to showcase the human side of your brand. Whether it's through storytelling or showcasing the faces behind your business, videos can help you establish a genuine connection with your viewers, leading to increased brand loyalty and customer engagement.

4. Shareability!

Social media platforms thrive on video content, and users love to share videos that resonate with them. By creating compelling and shareable videos, you can exponentially increase your brand's reach and visibility. A well-crafted video has the potential to go viral, attracting attention from a vast audience and boosting brand awareness.

5. Finally, video is continuously evolving, paving the way for new and exciting possibilities.

With the emergence of virtual and augmented reality, videos are becoming even more immersive and interactive. Imagine transporting your audience into your product or service, allowing them to experience it firsthand. By investing in video now, you are positioning your business at the forefront of technological advancements, ensuring that you stay ahead of the competition.

In short, investing more in video content in 2024 is a no-brainer. Video provides an engaging and immersive experience for your audience, allows you to demonstrate your offerings effectively, creates a personal connection, and has the potential to reach a broader audience through social media. With video being the future of content marketing, it's time to start filming and take your business to new heights.

We're a group of collaborative creatives who specialize in the art of cinematic storytelling. We have the expertise to guide you through every step of crafting a remarkable video marketing strategy, starting from the initial idea generation to the final delivery. We are now accepting bookings for 2024 and would be thrilled to collaborate with you on your next project! Get in touch!

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Video: Why You Need It and How to Get Started

Erin Hayes March 28, 2017 Video Marketing, Video, Content Marketing, video marketing budget, video budget Leave a Comment

You’ve heard it before: You need video to market your business. But the prospect of producing a video can seem like an overwhelming task. Especially if you’ve never gone through the process before.

Moreover, will video really have a positive impact on your business?

In short, yes. Yes, video will have a positive impact on your business. And in the next few paragraphs we’ll tell you how.

(or you could watch our short Facebook Live video we produced to go with this blog:)

First, look where the money is for proof. Every social media platform out there has invested in video features. This would not be the case if videos were a passing fad. Instagram, Twitter, Facebook and Snapchat all have their own video features and favor video in their algorithms. Video on social media generates 1200% more shares than text and images combined.

What’s more, YouTube sees 5 billion views daily and Snapchat and Facebook each see more than 8 billion views per day.

In the most recent earnings call, Facebook CEO Mark Zuckerberg described video as a “megatrend on the same order as mobile.”

In fact, according to the KPCB Partners report, 74% of all Internet traffic will be video this year. And Cisco projects that global internet traffic from videos will make up 80% of all Internet traffic in 2019, just a year a half from now.

These statistics point to two crucial take-aways:

1) Your potential customers are watching more video than ever before. Millennials are not the only group devouring video (though it’s crucial not to ignore this audience because by 2020 they will make up 50% of the U.S. workforce). Video resonates across all age groups. Facebook is the most popular social network across generations and YouTube is a close second. Did you know that Baby Boomers actually consume more content than Gen X or Millenials? More than 25% of Baby Boomers consume 20 or more hours of content a week.

What's more is Livestream’s 2016 survey found that 80% of their respondents would rather watch a live video from a brand than read their blog. According to Forbes, 59% of executives would rather watch a video than read text. And 75% of executives watch work-related videos on business websites at least once a week.

And then there’s this: A 2016 survey by the Web Marketing Video Council found that 61% of business are using video as a marketing tool.

But here’s the real kicker:

In the previous year, 66% of those businesses were not using video at all.

That leads us to the second crucial take-away:

2) Your competitors are already using video to reach your potential customers. Now is the moment you need to decide if you will jump on board or get left behind.

Here are some quick stats that show the benefits of using video:

Companies using video enjoy 41% more web traffic from search then non-users.
Retail sites with video increase conversion by 30%.
Including a video on your homepage can increase conversion rates by 20 percent or more, according to Unbound.
Businesses using video grow company revenue 49 percent faster year-over-year than organizations without video.
72% of businesses who use video believe it has improved that conversion rate of their website. ‘
An introductory email that includes a video improves an increased click-through rate by 96%.
Email open rates with video in the subject line have a 19% higher open rate and click through rate of 65%.
According to Forrester Research, One minute of video is equal to 1.8 million words
92 percent of mobile video consumers share videos with others, according to Invodo

OK, so how do you get started?

First, decide on the goal for you video. Is the goal to drive awareness? Drive leads? Reduce consumer confusion or reduce support queries?

Second, decide on a look and feel. e.i. interview driven; b-roll driven with a voice over; a mix of both; etc.

Third, decide on a video production partner to produce your video for you.

"Well, wait a second," you say. “I could easily get Jennifer from marketing to film a video using her iPhone / prosumer camera and it wouldn’t cost us anything.”

Before you go down that route, let us tell you why you should hire a professional to produce your video.

First, these statistics:

23% of people who have been presented with a poor quality video experience would hesitate to buy from that brand.

62% of consumers are more likely to have a negative perception of a brand that publishes poor-quality video.

And then there’s this: Filming a video may seem easy (it isn't, btw). But editing a video is decidedly not an easy task. The time it takes to edit a video versus filming a video is 5-to-1, and that’s if you are a pro. While you may feel that you’ve saved money by having an internal employee produce your video, in reality, you have not.

You’ve taken them away from their regular tasks - the tasks you hired them to complete for you. And you’ve put them on a project that could take months to finish. In the end, you may not be satisfied with the video and need to re-film it anyway.

Trust us. We’ve received calls with this exact scenario.

We strongly suggest hiring a production partner. If budget is a major concern, consider starting small.

Consider having the business owner or someone from the C-Level suite speak to camera rather than hiring an actor or actress. Or decide on a b-roll package of your product with a voice over. Talk to your potential production partners about what it may cost to have single camera coverage rather than multi-camera coverage. And make sure you and your team are prepared for the production day to avoid extra charges, like additional filming days / editing days.

Good luck! And if you're currently shopping for a video partner, check out our Spring Offer below. We call it the Content Marketing Tool Kit. It includes a video and limited photography.

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5 TERRIBLE WAYS TO SPEND YOUR VIDEO MARKETING BUDGET

Erin Hayes April 07, 2016 Video Marketing, video marketing budget, video budget, marketing budget Leave a Comment

INTRODUCTION:

Are you in charge of a video marketing budget?

Before you commit to a storyboard or begin the search for a video production partner, let us give you a few tips on how not to spend your money.

It's easy to get overwhelmed by what's possible in video production. Everyday there's a new shiny toy to capture footage or a new best way to produce a video.

Let us help you avoid some common pitfalls.

Here are 5 terrible ways to spend your money.

1. Insist on Specialty Camera Equipment

Is the Red Epic Dragon a kickass camera? Uh, yeah. Yeah, it is. Could any production company you hire get a Red Epic Dragon for your production if asked for it?

Yes.

And if the production company didn’t have experience operating it? Then they’d be able to find and hire a suitable operator.

Easy.

But let’s talk about what this choice could do to your perceived budget:

Let’s say you have $10K to spend on this video. If you demand a Red Epic Dragon, then you just told the production company that half of the budget will go to this effort.

They’ll need to take some profit for the deal. After all, they are a business, too. So at best this leaves you with $3K for lighting, audio, additional crew, editing, graphics, music, sound effects and actors.

Chances are this means that the rest of these must-haves will need to be tightly managed.

Read: These must-haves will get skimped on.

Don’t waste your budget on a specialty camera unless you have shots that need that camera. Any professional camera will be HD.

2. Ask Your Co-Workers to Act Instead of Hiring Actors:

"Wait. But my co-workers won’t cost me money and actors will. How is this a terrible way to spend my money?"

Chances are, your coworkers aren’t professional actors.

This means that no matter how tight the script, no matter how professional the production partner and no matter how awesome the filmmaking gear, your video will be subpar.

And spending money on a subpar video is a tremendous waste of your budget.

We’ve been here before. When we were young and learning how to say ‘No’ to clients, we said ‘Yes’ to letting them hire their coworkers as talent.

They'd book us for a half day shoot, but that half day would quickly become a full day. Then, that full day would turn into overtime because the actors were not professionals and had a tough time delivering their lines.

We all know that more production time means longer post-production time. Deadlines for delivery will get pushed when a shoot goes much longer than planned.

We commit to flat-rate pricing with our clients. But we've learned to write a contingency clause in our contracts for these situations.

Read: We have to charge extra for the extra time and extra work. Everyone does.

Now we just avoid this particular mess all together and say 'No'. And everyone is happier.

Acting isn’t easy, folks. Add a bit more to your budget and make sure you hire professionals.

A little more will go a long way. Trust us.

3. REnt Locations

Location rental can cost anywhere from $500 to $100,000 or more a day.

Unless the location is necessary for the storytelling, we suggest sticking to locations you control.

Ask your production partner if they have an in-house studio. Or maybe your office can look the part. And who knows. Maybe your in-laws will let you use their gorgeous atrium for the shoot.

When you avoid adding location fees to your shoot you can be confident that your budget will go to other extras.

Your production partner will be able to put more into production and post-production. Think specialty equipment; special effects; custom graphics; better music and sound effects. The list goes on.

In short, they will work hard to make sure your video is the best possible video your budget can buy.

4. Licensing Music

Sure, Jay-Z’s Empire State of Mind is the perfect sound track to your video. But if you insist on using his track then you’re looking at costs that will far exceed the cost of your video.

There are many independent musicians who can custom score your video for a reasonable price. Ask your production partner what their thoughts are on music. They’ll have many options for you, from a custom score to stock music.

Together, you can decide the best sound for your video - and you won't break your budget.

5. Hiring the Cheapest Video Production Partner (or Hiring the Most Expensive Production Parter)

Let’s go back to your hypothetical $10K budget. Say you ask for quotes from three companies. One company comes in at $9,999; another comes in at $8,000 and the third quotes $6,500.

Don’t just choose one based on their price. Take your time and do your research.

Look at their reel; check out their portfolio; ask them about their typical process. And their fee structure.

The most expensive option may only be the most expensive because they have a high overhead. Not because they are the most qualified.

Read: They’re one-man/one-woman shows and have to rent all the equipment and hire freelance crew.

The least expensive option may seem like a great get, but make sure you ask about additional fees.

We recently had a client come to us to redo a video they’d already paid to have produced by a different company. This company originally quoted below the client's budget. But by the time the video was complete, they’d incurred an additional $12,000 in fees and the video still wasn’t what they had asked for.

In short, before you hire a company make sure you know what you are signing up for.

Our biggest mistake starting out was not establishing clear expectations at the beginning of a project. It's just as important for us to understand our clients' expectations as it is for our clients to understand ours.

Establishing these expectations makes creative process fun. Each party leaves the project happy.

Download the Ultimate Guide to Choosing the Right Video Production Parter:

CONCLUSION:

In conclusion, to make sure you get the best video for your budget:

Avoid unnecessary expenses like high end camera equipment
Don't try to cut corners that shouldn't be cut
Work with what you can control when it comes to location
Avoid paying music licenseing fees
And do your due dillegence. Set expectations and make that you and your video partner are on the same page before beginning a project.

We hope you found this post helpful! Here are few other resources you might like:

Additional Resources

Video Marketing video marketing budget video budget marketing budget

video marketing budget

Supercharge Your Strategy: 5 Reasons to Invest Big in Video for 2024

Video: Why You Need It and How to Get Started

5 TERRIBLE WAYS TO SPEND YOUR VIDEO MARKETING BUDGET

Content Creation Blog

Supercharge Your Strategy: 5 Reasons to Invest Big in Video for 2024

Video: Why You Need It and How to Get Started

5 TERRIBLE WAYS TO SPEND YOUR VIDEO MARKETING BUDGET

1. Insist on Specialty Camera Equipment

2. Ask Your Co-Workers to Act Instead of Hiring Actors:

3. REnt Locations

4. Licensing Music

5. Hiring the Cheapest Video Production Partner (or Hiring the Most Expensive Production Parter)

Additional Resources

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