To say that video content is an important part of modern day marketing is something of a dramatic understatement. To get a better idea of just how critical video can be when it comes to communicating with your audience, consider the following statistics:
- As of 2017, 51.9% of professional marketers worldwide name video as the type of content with the best return on investment.
- As many as 43% of consumers who responded to a survey said that they actually want to see MORE video content from marketers. They would rather watch something than read something, even if those two pieces of content essentially conveyed the exact same message.
- Marketers who rely heavily on video tend to grow their revenue at a rate of 49% faster than those who do not.
- Video is responsible for a 157% increase in organic traffic to company websites from search engines like Google.
- Even just taking the step to include a single video on a landing page can help increase conversion by 80% or more.
- Perhaps the most important statistic of all is the fact that the average CVR for websites that use video is an impressive 4.8%, compared to just 2.9% for websites that do not.
Once you've accepted the fact that video content is one of the most effective ways to get your message out to your target audience, the most important question becomes: "exactly how much money should I be spending on content creation in the first place?"
The answer to that question is not necessarily as straightforward as you may be assuming.
Investing in Video Content is All About ROI
The critical thing for you to understand is that there is no "one size fits all" approach to answering this question. There is no equation that you can use to determine that "I should be spending X% of my budget on video content, or I should be investing $Y every quarter." There is only the answer that makes the most sense for what, specifically, you are trying to accomplish.
The fact of the matter is that video content is at its best when it is purpose-driven - every piece of content that you create needs to be conceived, designed and optimized with a particular goal in mind. You shouldn't be using video content because an article on the Internet told you to - you should be doing so because it's the best way to increase leads, raise awareness, generate stronger levels of engagement, increase sales or whatever other goal you've set for yourself and for your organization.
Because of this, return on investment is all that matters. This goal-driven content creation strategy will also dramatically affect the price of each piece, as every video should be optimized for the channel that it will eventually live on. If you're creating video content for social media consumption on sites like Facebook and Twitter, for example, shorter is almost always better - most successful social media videos only last a couple of minutes, if that. This runs contrary to an educational piece designed for a B2B audience, which will be far longer and will dive far deeper into the topic at hand.
The B2B video piece will obviously be more expensive than the shorter one for social media - often dramatically more expensive given production value considerations alone. But if both types of pieces accomplish the goals you had in mind - meaning that the return on investment is right where you need it to be - it will have been money well spent.
When discussing the topic of video content for company websites in particular, this too will depend heavily on what you're actually trying to do. Are you trying to raise awareness for your products and services from the perspective of new customers, or deepen your relationship with existing ones? Are you trying to build a virtual education resource that lets people get more out of their experience once they've made a purchase, or are you trying to generate as many new purchases as possible?
These are four different types of videos that will require four very different approaches - and budgets. This is a large part of why working with a video production company with experience in your industry is so important. They can make sure that every dollar is spent with your specific goal in mind, helping to optimize videos with an eye towards your objectives to allow the "return on investment" question to take care of itself.
The Horton Group Approach
At Horton Group, we understand what a valuable asset that video content can be for your company website. We also understand, however, that no two businesses are created in quite the same way. If you were to take a look at your closest competitor, you'd probably be looking at a very different organization - even though you're essentially trying to do the same thing in the same basic market.
This is why we deeply believe that there is no "one size fits all" approach to video production services. At Horton Group, we go out of our way to learn as much about you, your employees and your audience as possible - all of which allows us to find precisely what makes you so unique and valuable so that we can present it to the largest audience via the high quality video production services you deserve. Video production is at its best when it is highlighting what makes you special - a goal that we work hard to accomplish for every client, every day, no exceptions.
If you'd like to find out more information about video production services, or if you have any additional questions that you'd like to see answered, please don't delay - contact Horton Group today.