The benefits of digital video marketing are undoubted. Yet some businesses refrain from pursuing the opportunity. Why is that? Are you one such professional? The explanation behind that hesitation is very easy to understand. Many people still hold the wrong belief that video production is incredibly expensive.
Such beliefs happen to be misguided – people are going back to the days of costly and challenging TV production. The cost of digital production is manageable even for small businesses and startups. In addition, digital video campaigns bring a very high return on investment. These are just some of the reasons why video marketing is worth every pound spent on the campaign. Let’s take a deeper look at the costs and the ways in which this promotional tool can result in profit maximisation.
Video or Traditional? You Make the Choice
Many companies immediately turn to print campaigns – brochures, booklets, advertising in magazines, direct mail advertising and printed coupons are just some of the possibilities. These, however, happen to be much more expensive than the single investment required to do professional video production and editing.
The cost of a print campaign carried out in a magazine, for example, depends on multiple factors:
- The size of the advert
- Whether it’s black and white or full colour
- The placement of the ad
- Whether it’s positioned on a page, a cover or an insert
- The number of issues that it’s going to appear in (there could be a volume discount)
Thus, after looking at the advertising rates of various popular magazines in the UK, you should be prepared to spend about 2,000 pounds per advert. Needless to say, the amount can go to much more when you’re attempting to carry out an entire campaign that includes multiple media.
The situation is quite different when it comes to video advertising. For a start, you have to spend money solely on the production and the editing of the clip. In most instances, the distribution cost is minimal on top of that original sum. If a video goes viral in an online channel, it will do quite well in terms of self-promotion. People will be doing the distribution for you, leaving you reaping the benefits.
Speaking from experience, we know that you can spend in the hundreds on video production and editing The process is completed quickly and it leaves clients with a product that they can use time after time.
Additional Benefits of Professional Video Production
Apart from being more affordable, video production comes with a range of cool additional benefits. These boost the efficiency of the process, delivering almost immediate advertising results:
- Quick production: professional video shooting and editing requires a much shorter period of time than the execution of a print campaign. Once you explain the concept, an experienced team will need just a few days to get the job done. Work with graphic designers on a print campaign requires conceptualising, the creation of a draft, editing, modifications and printing.
- Easy editing: a video clip that features a mistake can easily be edited. It will only have to be taken down, processed and re-uploaded. Print materials that have gone wrong can’t be fixed. You’ll have to start from scratch, which will cost you an additional (massive) sum.
- Scalable services: when using video marketing, you can purchase solely the services you need. We, for example, offer our production services separately. It’s possible to shoot your own clip and have it edited professionally.
The Long-Term Financial benefits of Video Production
When you take a deeper look at it, video marketing can produce additional financial benefits. The ROI of video promotion is one of the highest in the field of inbound advertising.
According to 52 per cent of the world’s marketing professionals, video marketing is the one that brings the highest ROI among all of the inbound techniques. This is the main reason why 69 per cent of marketing and sales professionals are already using video (2015 data). An additional 31 per cent plan to incorporate video in their advertising strategy in the future.
The impact on consumers is also easy to measure. Of all people questioned in the survey, 80 per cent remembered a promo video that they’d watched in the past 30 days. Of these people, 26 per cent did research about the featured product, 15 per cent visited a company’s website and 12 per cent bought the product.
These numbers, combined with the fact that video traffic is expected to reach 79 per cent of all traffic by 2018 indicate just how cost-efficient and powerful such promotion can be.
What does this all mean for your business? For a start, the worries about the cost of video promotion are unfounded. In fact, this type of advertising is truly cost-efficient and it can contribute to serious revenue maximisation when incorporated in the right strategy. Video marketing gives you flexibility, immediacy and an opportunity to accomplish a vast range of advertising goals.
Still not convinced? Don’t hesitate to give us a call! We’ll be more than happy to meet you and get to know your business better. You’ll get numerous examples about campaigns we’ve done in the past, their cost and how these contributed to more effective business advertising. We’ll also help you figure out what video advertising can do for your business and which creative approach will be the perfect one for you.
Call us today on 0844 576 3446 or email us on firstname.lastname@example.org