Video consumption is on the rise. It’s been growing significantly over the last number of years and shows little signs of stopping. Yet there are many myths still residing in the minds of marketers. Let’s set the record straight on 12 of them.
1. It’s Expensive
Incorporating video marketing into your regular, online marketing activities doesn’t have to take a significant chunk of your budget. Of course, the cost will depend on the type of video you’re looking to produce. Outsourced production generally runs from $5,000 to upwards of $10,000 per asset for an explainer-style video. Advanced videos of an “advertising look and feel” will range anywhere from $5,000 to $60,000. If you’re looking to go the in-house production route, you’ll likely be hiring a videographer, with an average salary of about $71,000 according to Indeed.com.
2. It’s a pre-funnel, brand awareness tool
Video can be so much more than a brand-building tool. It can be used throughout the funnel from piquing a prospect’s interest, to driving further action with in-video CTAs, converting them to a lead with email gates and contact forms, to teaching them about your product in a product video, and finally to influencing the ultimate decision with customer testimonials.
3. Success is in the view count
Success is so much more than view counts. View counts tell you how many people clicked play on your video but they don’t tell you anything about viewers’ behavior afterwards. A 90 second video that sees the majority of viewers drop off after 10 seconds wouldn’t generally be considered “successful”, regardless of how many people saw those first 10 seconds. Instead of view count, measure things like attention span, click-through rate, subscription rate, and ROI.
4. YouTube is the only powerful distribution channel
YouTube is definitely a power place for video – we’ve all heard that it’s the second largest search engine in the world. But YouTube is no distraction-free zone, and it’s easy to lose potential customers down the video abyss. What you need is a channel that has multiple ways to learn more about you, your company, and your offering with ample opportunities to convert. Sounds like your website.
So if you’re going to publish to YouTube (and we recommend you do!), just make sure that you’re sending people back to your strongest presence on the web : your website.
5. CTAs can only be text bubbles
Many of us are familiar with YouTube’s text-based CTAs – they’re relatively generic and straightforward. But CTAs don’t have to be. Adding brand-aligned font and coloring can go a long way towards a professional-looking video.
6. People choose to watch videos based on their titles and description
Wrong. Well, partially right. But the majority of people are actually compelled to click play on a particular video based on your splash screen or thumbnail image. Make your thumbnail image clickable by keeping it uncluttered, showcasing emotion, and using a high-resolution image.
7. Video is a nice-to-have, not a need-to-have
Today, video is a must. Here are four research-proven ways why:
- By 2018, 84% of internet traffic will be video – Cisco
- Over 70% of marketers claim that video drives more conversions than any other medium – Demand Metric
- Enjoyment of video ads increase purchase intent by 97% and brand association by 139% – Unruly
- After watching a video, 64% of users are more likely to buy a product online – ComScore
8. It’s a standalone, digital initiative
Video’s a powerhouse, but it’s winning attributes are amplified when used in conjunction and aligned with your other digital marketing activities. Ask yourself: who are we targeting for this upcoming campaign? What stage of the funnel? What are the goals and how can video support these goals?
9. Video is only for passive consumption
This is probably better illustrated with a video, itself. Go here (to Honda’s campaign page). Press play. Then press “R”. I’ll wait.
Interactive video brings endless possibilities to this ever-evolving medium.
10. The opportunity for B2B brands in limited
Why? Because B2B consumers are boring and have a strong preference for text? Not likely. In fact, in a recent study by Demand Metric, they found that 82% of B2B marketers reported success with video marketing initiatives. The online video opportunity for B2Bs is just as big as B2Cs.
11. A web-cam and a quiet room is all you need
I said that the cost of the video doesn’t have to dominate your digital marketing budget, but that doesn’t mean you can go el-cheapo. At the end of the day, it’s about the final product. If you can produce a professional-looking video with your mobile phone (like Jay Baer’s “Jay Today”), all the power to ya! But just be sure to keep these tips for in-house video production in mind!
12. Once it’s published, the production work is complete
There’s always room for improvement. Lucky for you, there are video marketing platforms (like Vidyard!) that help you to identify areas of improvement for your video, like a large percentage of viewers dropping off at a certain point. Great insight into what’s not working means an even greater opportunity for fixing it and reaping the rewards!
There you have it, the most common misconceptions of marketing with video, clarified. Do you have any remaining doubts about the power of video? Shoot ‘em over!
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