Marketing with Video: Worth the Money (and Hype)?

Posted by Alchemy AMS - October, 09 2018

As we explored in a previous blog, how much money should you spend on a video? Well, it depends—how much is it worth to you? Some videos can and should be fast and cheap, while others should be bigger budget and higher production values.  So, how do you know which is which? And where do you invest your money? Can you create the video with in-house staff, do you need a young and hungry one-man-band, or should you hire video marketing services from an agency?
 

As a strategic marketing and advertising agency with roots in video production, we are often approached to “make a video” for various business clients. We’ll happily take those meetings, but often they end with a polite “thanks but no thanks” from both parties. Why? Because they lack specific goals or a marketing strategy.  We may be a strategic marketing agency that uses video, but it’s not the only tool in our marketing toolbox. Without a strategy behind the video, it’s less likely to yield the rewards our clients seek.

Before we begin producing the video, we’ll start by asking: what’s the problem to solve? How does this video align with your marketing strategy?  How does it help your company achieve its business goals? Are those business goals firm (or are they likely to shift)? If a client doesn’t have the answer to this question, then they should probably hold off on spending the money on a video until they truly understand its value and how it will be used. The answer to those questions will dictate what possible forms the video should take.

Marketing with video is extremely effective in fact 64% of customers are more likely to buy a product online after watching a video about it, according to statistic on Forbes.com. Different types of videos vary in purpose, length, distribution channel and lifespan. The type of video should be created not just with consideration of who your audience is but also where they are in their customer/buyers journey.  You’ll need to create a different video if you are trying to grab attention than if you are trying to make a sale or reward your most loyal customers.

Stay tuned—over the coming weeks we’ll dive deeper into examples and tips about creating the right kind of video for each stage of the customer journey. 

In the meantime, check out our infographic about 5 reaons your should be using video to boost engagement.

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