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Factors to Consider for Video Marketing

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Factors to Consider for Video Marketing

If an image can say a thousand words, what can a video do? While video marketing is an effective form of digital marketing, many business owners dismiss it as a viable option for their business. This could be due to discomfort in front of a camera, a lack of videography equipment or a relevant skill set, or simply because they don’t know how video marketing would fit into their marketing mix. After completing this episode, the business owner will have a much clearer understanding of how to do video marketing and many of the potential objections to this form of marketing will have been addressed.

Part of the webinar series: DIGITAL MARKETING TIPS FOR THE NEW (OR OLD!) BUSINESS OWNER 2021 - PART II

See more at https://www.financialpoise.com/webinars/

If an image can say a thousand words, what can a video do? While video marketing is an effective form of digital marketing, many business owners dismiss it as a viable option for their business. This could be due to discomfort in front of a camera, a lack of videography equipment or a relevant skill set, or simply because they don’t know how video marketing would fit into their marketing mix. After completing this episode, the business owner will have a much clearer understanding of how to do video marketing and many of the potential objections to this form of marketing will have been addressed.

Part of the webinar series: DIGITAL MARKETING TIPS FOR THE NEW (OR OLD!) BUSINESS OWNER 2021 - PART II

See more at https://www.financialpoise.com/webinars/

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Factors to Consider for Video Marketing

  1. 1. 2 Practical and entertaining education for attorneys, accountants, business owners and executives, and investors.
  2. 2. Disclaimer The material in this webinar is for informational purposes only. It should not be considered legal, financial or other professional advice. You should consult with an attorney or other appropriate professional to determine what may be best for your individual needs. While Financial Poise™ takes reasonable steps to ensure that information it publishes is accurate, Financial Poise™ makes no guaranty in this regard. 3
  3. 3. Meet the Faculty MODERATOR: Joshua Lyons – Founder of Joshua Lyons Marketing PANELISTS: Aaron Ball – Co-Founder of Video Brochures Direct Michael Perkins – Creative Director At Perkspectives TV 4
  4. 4. About This Webinar - Factors to Consider for Video Marketing If an image can say a thousand words, what can a video do? While video marketing is an effective form of digital marketing, many business owners dismiss it as a viable option for their business. This could be due to discomfort in front of a camera, a lack of videography equipment or a relevant skill set, or simply because they don’t know how video marketing would fit into their marketing mix. After completing this episode, the business owner will have a much clearer understanding of how to do video marketing and many of the potential objections to this form of marketing will have been addressed. 5
  5. 5. About This Series - Digital Marketing Tips for the New (Or Old) Business Owner 2021 Approximately 83,300 small businesses in the United States are closed every year because of ineffective marketing. This indicates many business owners are unknowledgeable of how to leverage the power of marketing. While this is unfortunate, it is not surprising. There are countless marketing companies trying to sell their services, and these services range from billboards, to social media marketing, to telemarketing and more. Though these marketing tactics can be very effective, improper planning and execution can lead to failure. As such, this webinar series is designed to educated business owners on how to prepare, execute and refine their own customized marketing initiatives. After finishing this webinar series, the business owner should have a much clearer and strategic plan for their own marketing. Each Financial Poise Webinar is delivered in Plain English, understandable to investors, business owners, and executives without much background in these areas, yet is of primary value to attorneys, accountants, and other seasoned professionals. Each episode brings you into engaging, sometimes humorous, conversations designed to entertain as it teaches. Each episode in the series is designed to be viewed independently of the other episodes so that participants will enhance their knowledge of this area whether they attend one, some, or all episodes. 6
  6. 6. Episodes in this Series #1: How to Leverage the Power of Social Media Marketing Premiere date: 11/17/21 #2: Factors to Consider for Video Marketing Premiere date: 12/15/21 7
  7. 7. Episode #2 Factors to Consider for Video Marketing 8
  8. 8. Why Use Video Marketing? Video marketing has rapidly become one of the most popular and effective forms of marketing used in current times. But why has it become so popular? Part of the reason video marketing is so effective is because it’s engaging. In fact, according to a Twitter article, tweets with video get 10 times as much engagement as tweets that don’t have video. And that’s just one illustration. Time and time again, demonstrations are made that video is extremely engaging. Best practice, when it comes to marketing, is to create engaging content. That’s what sparks interest in whatever is being promoted, and that’s what keeps interest. So, based on this one point alone, using video makes a lot of sense to include as part of ones’ digital marketing mix.
  9. 9. Engagement is Good, But What About Revenue? Naturally, those who take the time to invest in creating great marketing videos will want to see a positive return. Fortunately, according to HubSpot, 78% of video marketers report that video marketing has improved their company’s bottom line. However, it’s worth pointing out that the type of video created can have a massive impact on what exactly the return on investment (ROI) might be. On that note, there are two schools of marketing to keep in mind, while creating a video. These include direct response marketing and brand awareness marketing.
  10. 10. Engagement is Good, But What About Revenue? → Direct Response Marketing This form of marketing is designed to inspire the target audience to immediately take a desired action. For example, you might see a video put out by an amusement park, encouraging the viewer to book reservations now and get a discount on accommodations. The objective is to get the user to make a reservation. This directly impacts the bottom line. It’s also possible that a direct response campaign could have a different call to action. For example, “Sign up now for exclusive offers” is designed to inspire the user to make a “direct response” to the message and to fill out the sign up form. This puts the user into the email marketing funnel and helps drive future sales.
  11. 11. Engagement is Good, But What About Revenue? → Brand Awareness Marketing The alternative to direct response marketing is brand awareness marketing. One classic example of a brand awareness campaign is Coca-Cola’s polar bear commercials, where a polar bear will enjoy a bottle of coke. They aren’t trying to sell their product to polar bears. Rather, they’re simply reinforcing that during the holiday season, when it’s cold and you’re spending time with the family, Coca-Cola is there. The commercial is cute, fun, family focused (a family of bears) and makes you feel good. And that’s what the brand wants you to feel, when you think of them. After all, it’s in their logo. “Enjoy” Coca-Cola.
  12. 12. Engagement is Good, But What About Revenue? → Back to the Revenue Topic If the videos you create are direct response focused, then the return on investment (ROI) of your marketing spend will typically be significantly higher than if you focus on creating brand awareness videos. And in most cases, the general rule for a business that’s trying to grow is to invest about 70% of their budget in direct response and 30% in brand awareness. Having a direct response focus can certainly help increase the ROI. But even then, according to an article by Invideo, accurately measuring the ROI for video marketing is the biggest challenge for 44% of small and medium-sized businesses.
  13. 13. Engagement is Good, But What About Revenue? → Back to the Revenue Topic (cont’d) But, video marketing certainly does tend to generate a positive ROI. And according to an article by MarketingCharts, 76% of marketers and agencies expect to increase their online video marketing budgets for 2022. If positive results weren’t being seen, and engagement weren’t so high, then video marketing wouldn’t continue to grow as much as it is. With so much success in video marketing, what options does a business have, when it comes to investing a portion of their advertising dollars in their own video marketing campaign? And to answer that question, let’s move to the next topic related to video marketing!
  14. 14. What Types of Videos Can Be Created? There are many types of videos a business could create, both for marketing purposes and for other purposes. Selecting the type of video that makes the most sense for you is important. According to Wyzowl, explainer videos are the most commonly created type of video. This is followed by social media videos, presentation videos, sales videos, and then video ads. Additionally, 96% of people have watched an explainer video to learn more about a product or service. There are other video options, beyond what’s mentioned above. Here are some other styles of video, from a blog post published by Joshua Lyons Marketing (for marketing purposes and otherwise): Animation, Behind the Scenes, Educational, Entertainment, Event, FAQs, Training, Product Reviews, Success Stories/Testimonials, Thank-You’s, Tutorials and Vlogs. More can be read about each type of video by clicking the link above.
  15. 15. How Much Does Video Marketing Cost? As with many things in life, this is another case of “it depends.” The budget for video creation can range significantly from one project to another. However, there is a general rule. According to DMAK Productions, most production companies agree the average cost per minute for video production is around $1,000 to $5,000 per finished minute. And, that’s a good starting point when it comes to budgeting. However, the budget can definitely vary based on the type of video needed, the quality of the video required, and how it’s produced. For those who don’t have a budget of $1,000 per finished minute, but need an extremely professional video-shoot, consider the following options:
  16. 16. How Much Does Video Marketing Cost? (cont’d) Studio Sessions Rather than having a video production company come to you, see if you can go to them. This doesn’t apply to every video production company. However, there are some video production companies that are set up for the client to come to their studio and essentially purchase a block of time. During the video shoot, the videographer will help the client with strategy, scripting, shooting, production, and everything in between. Then, upon completion of the session, the client will leave with the completed video files. A few sessions like this can be very cost effective.
  17. 17. How Much Does Video Marketing Cost? (cont’d) Freelancers There are pros and cons to using freelancers. One of the cons is that they often can’t handle large video shoots that require a team of video marketing professionals. They are typically better with small projects. But on the flip side, freelancers are often more budget friendly. Just keep in mind, when hiring a freelancer, to look at their portfolio, reviews, availability and anything else you can to make sure they are a good fit for what you need. Finding someone with experience in the type of videos you want created is very important. Fiverr and UpWork are two popular platforms designed for finding and hiring these types of freelancers. And remember, you usually get what you pay for, so tread cautiously. And to that point, consider listening to the Financial Poise webinar titled Marketing First Steps: Planning, Budgeting & Hiring. This episode covers key concepts that relate to the topics discussed in this episode.
  18. 18. How Much Does Video Marketing Cost? (cont’d) Do It Yourself Of course, there’s always the DIY option when it comes to creating videos. And in reality, there are plenty of tools on the internet designed to help you create quality videos. The cost is relatively inexpensive, and significantly less than hiring a video production company. Of course, the level of customization may be lacking, since you would primarily be using templates. And you would still be left with needing to either select from some stock B-Roll to use or still create your own video recordings. But depending on the situation, that may be a perfect solution for you. And if you ever need to improve the quality, you could certainly hire a videographer or use studio sessions, and then upload those professionally made video recordings into the video editing software, for your own post production.
  19. 19. How Long Does it Take? As with the cost, the time required to create a video depends on many factors. In Andrew Stapleton’s blog, he explains that one minute of video can take him anywhere from about two hours to months, to complete, depending on the type of video. A vlog, for example, could take less than two hours. Then again, a one-minute corporate video, with a large budget, could take six to nine months from start to finish. Going back to the studio sessions concept that was previously mentioned, in that scenario, your video would likely be an interview style, a product demonstration, a vlog (video blog) or something else that doesn’t require extensive editing and complex animation. These can be created more quickly, especially if you’ve already worked on the script in advance to the video shoot beginning.
  20. 20. How Long Does it Take? (cont’d) On the other hand, if you need a two-minute video with 100% custom animation, that could take significantly longer to create. In order to gauge how long it will take, try creating a few videos, in whatever format and style you believe is best for you. Time yourself during the process of creating the video and then you’ll be able to gauge an average amount of time required. Also, definitely take the time to speak with a videographer to see what they suggest, and what they estimate, for your particular needs.
  21. 21. What Type of Video is Best for You? As mentioned, a moment ago, take the time to speak with a videographer to see what they suggest, based on your needs. And in order for them to best advise you, you’ll need to understand what your goals are. What do you hope to get from the video and what do you want to create it? Many companies will create a great video, though it was done for the sake of creating a great video, and not really for accomplishing a more meaningful goal. Every action taken within a business should be done with the intent of accomplishing a goal of some type. And this applies to the production of marketing videos as well.
  22. 22. What Type of Video is Best for You? (cont’d) Before you hire someone to help with your video production, think about your goals. Also, consider where you intend to promote the video. If it’s for Facebook, that could impact the length of the video, as opposed to if it’s meant to be shared directly on the homepage of your website. What’s the goal and where is the video to be published. Understanding that can really be helpful when it comes to narrowing down the type of video that should be created.
  23. 23. Other Video Marketing Tips for Consideration? While the information above is all related to why and how to create a video, that’s not all you’ll want to pay attention to. Once created, you’ll want to actually drive exposure to it. If nobody sees your video, then there isn’t much value for creating it in the first place. And on that note, here are some tips to help you maximize your video exposure. Optimize Your Thumbnail Multiple studies have found that creating a custom thumbnail will generate better performance. An image says 1,000 words, so selecting a great image for the thumbnail that says “you want to play this video more than anything else in the world” is a smart move. Definitely take a little time to brush up on best practices for creating video thumbnails.
  24. 24. Other Video Marketing Tips for Consideration? (cont’d) Share Your Video If you’ve built a list of email subscribers, then send an email to them, so they can view your new video. Also, consider promoting your video via social media, YouTube and any other platforms you’re on. You can even run ads campaigns, if your budget allows, to maximize exposure for your video on these platforms. Use Your Blog & SEO Embed your video in a blog post. And if possible, create many blog posts, each with a related video embedded. Then, optimize the blog post so it will drive more traffic from Google and other search engines. You can also optimize your video on YouTube. Here’s a guide on how to optimize your video for SEO on YouTube: How to Do SEO for Videos on YouTube
  25. 25. Final Words of Advice As with all forms of marketing, start by thinking about the goal. What’s the reason for creating your video? Then, how can you craft a video that will resonate with your target audience, and inspire them to take a desired action (assuming you’re doing direct response marketing)? Once the above has been figured out, think through the types of videos that make the most sense, based on your goal. Speak with a marketing professional who specializes in video and can help you create a plan that works for your goals and budget. Then, once your video, or videos, have been created, share them! Grow exposure for your content, and consider talking to an SEO specialist to help you increase viewership through proper search engine and YouTube optimization.
  26. 26. About the Faculty 27
  27. 27. About The Faculty Josh Lyons - josh@jjlyonsmarketing.com Josh Lyons’ “big harry audacious goal” is to help 3,217,501+ businesses [that aren’t profitable] to become profitable by 2040. He is the founder of Joshua Lyons Marketing, a digital marketing agency that works with small and mid-sized business throughout the United States. Additionally, he is launching 4in10 in Q1 of 2022. 4in10 is a software that’s designed to provide an affordable way to fast-track the profitability of businesses. This software will be priced so even small-sized startups can afford it. Additionally, Josh will open his schedule in 2022, for a limited time, to provide coaching and consulting services. Josh’s Personal Mission Statement: Josh’s mission in life is to be sincere, authentic, righteous, knowledgeable, balanced and harmonious in his personal and professional relationships and to be a catalyst for growth and improvement in both himself and in the lives of the individuals and communities with whom he invests his time. 28
  28. 28. About The Faculty Aaron Ball - aaron@videobrochuresdirect.com Aaron is driven to help people and companies succeed. He is leading the charge to build a global community of innovators who use video and print technologies to improve the world. 29
  29. 29. About The Faculty Michael Perkins - Perkspectivestv@gmail.com Michael Perkins is creative director at Perkspectives TV. 30
  30. 30. Questions or Comments? If you have any questions about this webinar that you did not get to ask during the live premiere, or if you are watching this webinar On Demand, please do not hesitate to email us at info@financialpoise.com with any questions or comments you may have. Please include the name of the webinar in your email and we will do our best to provide a timely response. IMPORTANT NOTE: The material in this presentation is for general educational purposes only. It has been prepared primarily for attorneys and accountants for use in the pursuit of their continuing legal education and continuing professional education. 31
  31. 31. About Financial Poise 32 DailyDAC LLC, d/b/a Financial Poise™ provides continuing education to attorneys, accountants, business owners and executives, and investors. It’s websites, webinars, and books provide Plain English, entertaining, explanations about legal, financial, and other subjects of interest to these audiences. Visit us at www.financialpoise.com Our free weekly newsletter, Financial Poise Weekly, updates you on new articles published on our website and Upcoming Webinars you may be interested in. To join our email list, please visit: https://www.financialpoise.com/subscribe/

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