Let’s face it. A lot of companies are stuck in the past. They think airing multi-million dollar commercials on television is the only way to get their name seen and recognized by the masses. But today, that’s no longer true.
Companies use digital marketing, including social media, inbound, outbound, content, affiliate marketing, and more to get the word out about their products and services, helping spread word digitally rather than physically about the value they provide. The latest type of marketing that’s changing the game and providing huge returns for relatively little investment? Video marketing!
Today, we’re breaking down exactly why you need video marketing, and how using stock video can not only help strengthen your brand’s efforts, but do so at a low cost with great results.
Why do you need video marketing?
Without video, does your brand even exist online? Maybe not – 81 percent of all businesses say they use video as a marketing tool. Whether it’s on social media, on your website, presentation templates, or via your email communication, if you aren’t using video online, chances are your audience isn’t listening to what you have to say.
And, a little surprisingly, consumers actually want to watch more branded videos from companies. Seventy-two percent of people would rather use video than text to learn about a product or service, and the average user spends 88 percent more time on a website that includes video than on those that don’t. That means people are interacting with and engaging with video more than any other type of medium.
Best of all? Because video is a more powerful method of communication, you can use this openness to really communicate your strongest brand messages, like your company’s story, your mission, or even something like a special promotion or sale.
So. Where should you start? Depending on your goals and financial resources, a stock footage video may be your best bet, so you can start by gathering elements to create a pitch deck.
Isn’t stock video more expensive?
Stock video has a reputation for being too expensive for most companies, but that’s a trend that’s quickly changing.
Videvo, for instance, offers amazing, high-quality stock footage for free, no restrictions and no conditions. Want their premium plan? It’s just $14.99 a month – probably less than you spend on coffee!
Let’s break it down a little further. Imagine formulating your own video marketing plan from start to finish. You want to create one brand video per quarter and you want to do it all in-house.
One 8-hour video shoot will require:
- One actor ($200-$400)
- One production assistant ($120-$240)
- One director/producer ($240-$480)
- One camera operator ($120-$240)
- One location, like a rented studio ($300-$800)
- Props ($40-$100)
- Wardrobe ($100-$200)
- One set designer ($160-$320)
- One video editor ($240-$480)
Average Total: $2,390
And really, this is just the tip of the iceberg. We’re not including the time and effort it will cost you to organize this all, equipment costs, extra hours required to film or edit any footage, or even extra hands on set, like a makeup artist or extra actors you might need. We’re also looking at the average cost, not factoring higher pay based on experience, reshoots that may be required, or bonus b-roll footage, interviews, or other elements that would make your video stand out. Now, multiply that times four for the year, and you’re looking at a total of almost $10,000 per year to create just four videos.
Crazy, right?
Another option is hiring a full-time production team that could create videos for you regularly. This will drive down your individual production costs, but will cost you a lot more in the long run. If you’ve got the resources to do this – great! It really is a sound investment and can provide content for all your digital needs on a regular basis. But unfortunately, this isn’t the reality for most small businesses.
That’s why stock footage can be a steal. Stock footage puts countless videos at your fingertips, with a vast library of options. You just need to edit them together, maybe overlay some text or brand information, and distribute as you wish!
Here’s an example of a stock footage video we created for Gravy Analytics, a location-based analytics platform based out of Dulles, Virginia.
Why outsource?
Awesome – you’re convinced to give stock footage a try. That means you can make your own video fast, at a low cost, and reap all the benefits video marketing provides, right? Well, not exactly…
Getting your footage is the first step! You’ll likely still need to work with experts who can piece together your footage in a way that makes sense for your brand.
You can hire a freelance video editor, or try your hand using some of the free video editing software that’s available. Getting that perfect touch, though, can be difficult, so you’ll want to think long and hard about how much of your budget you can invest per video you make.
This is where outsourcing comes in. Whether you hire a freelance editor or hire a production company like Lemonlight to handle all your video needs, outsourcing can be a huge money-saver. Companies that create and edit video at scale can do it faster and more affordably than you can yourself (if you don’t have your own team.) Plus, expansive experience means they can put together something you and your entire team will be proud of, a video that will represent your brand in a beautiful way.
Conclusion
What are you waiting for? Video isn’t going anywhere! It’s up to you to make sure your business is ready to take it on. Use every tool at your disposal to create high-quality content at a price you can afford. With the right video partners, you’ll be ready.
