Cost vs value – Buying video for the uninitiated

Posted on Sunday, March 12th, 2017 by

So video is here to stay – it’s not an advertising trend or fad. It has a real impact on your marketing results and your customer’s buying cycle. So when brands need to be shouting loud to grab the attention of an audience, video tops the list of ways to get meaningful messages seen and responded to.

But you’re not all The Dollar Shave Club, confidently breaking boundaries with video marketing for your brand launch. We get that.

More specifically, we also know that some of you are still really wary of working with video. The perception of it being a high-cost option, when compared to the price tag of mediums that you might already be investing in, is understandable but misguided! We’re here to answer your questions and help you sell it into your C-Suite!

So what do I owe you?

The cost is usually exactly what the quote says! We want to be paid as much as you don’t want to be overcharged, so it’s in our nature to stick to the budget and get as much out of it as possible. We’re not lawyers here so unless there’s a big change in your brief halfway through, we’ll put in the hours we need to get the best results for the value you expect to get.

As media enthusiasts, the challenge is usually faced by our Production Manager telling us to stop working when we get carried away!

So that’s a pretty good start – you can plan your spend pretty safely. The only reason it would change is because the scope of the project changes.

What if I’m still nervous of the price?

The great thing about the way we work is that we’re a small enough company to be able to make quick decisions that are right for the customer.

We usually work to a reduced rate card for first-timers. We also need to take a bit of a punt on what ‘success’ for the client really means. Is it a personal vision? Budget driven? Feedback from audience members? Or is it clicks and sales?

Sometimes we work with a ‘package’ deal approach that keeps everyone happy, with no surprises. We can then create efficiencies that can result in costs being kept at a minimum. It’s a very straight forward way to work together and know each other’s expectations.

Where is my value in video?

Think about what you’re buying into when you have a video created to share your message above and beyond a tweet, an email flyer or page on your website. It’s something real! Something that can be used to tell human stories and use real-time engagement to get a message seen and heard.

Including video on a landing page can increase conversion rates by 80% through the medium’s ability to capture the imagination and simultaneously give the viewer a reason to believe. That’s a pretty powerful tool if used the right way.

What are the expectations of video?

As video is so prevalent now, some brands have started to take it for granted and rationalise the same spend should be expected as, for example, a static image design – that’s not always the case, my friends! You’re buying a product that uses a unique set of  tools to deliver much higher returns than any other communication tactic. As it’s a timeline-based medium, there’s already more time investment required for an agency to facilitate any requirement.

It’s not just about the content either. Video can pretty much be viewed anywhere and anytime, so it has become social, fitting in with consumer’s busy lifestyles and work calendar. THAT’S what you’re buying – a format that will maximise the short periods of time that you can grab with your time-precious audience that encourages them to become your own personal sales team by sharing your content.

Over 92% of mobile video consumers share videos with others that potentially don’t already know or love your brand, so there’s a whole level of distribution that you have access to!

The alternative? Use a great bit of copywriting, a colourful infographic or an Instagram post. They all get the message across and encourage interactions, but will they maximise the potential you have to truly captivate your audience at any part of their buying cycle?

Video in the social sphere stimulates audiences to emotively and physiologically react to the content in a way that interrupts their day-to-day thoughts. It has the power to encourage them to consider something new and, best of all, to become your advocate!

Video is at the heart of a great campaign

How can I maximise my marketing budget?

There are times when your marketing or comms budget allows you to be flexible. Today, you need to be prepared to fight hard to make every penny count. When maximising communication means using as many audience touch points as possible, video becomes just one of many channels to engage your audience.

No one piece of content on its own will get the best results for you. When using video, be sure that you and your agency have given it the best chance possible to be seen. Use as many of the other channels to promote the message and use the video as the zenith of the campaign!

The more times you can focus your spend on a combination of content and putting the right content in front of the right audience at the right time, the greater success you’ll realise.

So surround yourself with others that have many years in video production that you trust, and get to planning your next campaign where video can be your hero!

Outlook research, design and deliver the very best video content for measured social campaigns and internal comms. Get in touch to see how you can reap the rewards!

It’s not just an understanding of cost that stops businesses taking their first step in video marketing. See our other blogs on TAKING YOUR FIRST STEPS IN COMMISSIONING VIDEO and ACHIEVING VIDEO ROI.