The world of video marketing is growing and the impact of video is taking a bigger piece of the marketing pie.
With new tools to create videos and a growing number of online platforms to advertise on, what was never simple has now gotten even more complex with new trends and technological changes. Not to fret, if you’re ready to master video marketing for your business you’ve come to the right place.
This guide is a comprehensive look at everything you need to know to become a video marketing expert. We’ll examine industry best practices, the makeup of a successful marketing video, the best place to post and share, and more. With easy to execute tips and tricks sprinkled throughout you can walk away knowing your online videos are geared for greatness.
If you feel that you’re more familiar with some subjects more than others, go ahead and use this index to skip forward to the sections you need most!
What is video marketing and why it’s important?
While video marketing itself has been around almost as long as the social media channels they’re advertised on, many businesses are still unfamiliar with best practices to make this once exclusive advertisement form work for every business owner and marketer.
Fear not if this is new, you’ve joined the video revolution just in time. As you can see the video trend is here for the long haul and it’s worth investing the time now to learn how to incorporate video marketing into your larger strategy and use it for years to come.
A few more interesting points that may tip the scales towards investing some time into video marketing:
- About 50% of all internet users look for videos about a product or service before making a purchasing decision.
- 73% of marketers said they would create MORE marketing videos if time, budget, and other resources weren’t an obstacle.
- The number of businesses using online video, specifically on their website landing pages, increased by over 10% in the last year alone.
It’s clear that video marketing is growing. It’s also clear that both marketers AND consumers want more of it. What might not be so clear is how easy and effective video marketing can be for businesses of all sizes. Hopefully, 73% of marketers are reading this because they’re about to find out why a lack of time, budget, or other resources do not have to slow down your video marketing growth!
How can video marketing help your business?
Video marketing is certainly an effective tool for businesses of all sizes. However, what small and medium-sized business owners want to know is: what can it do? How does video marketing increase revenue, build brands, and drive sales?
Let’s go back to the stat board:
- Landing page marketing videos can increase conversion rates by up to 80% (Unbounce)
- Over half of marketers say that video content has the best ROI when compared to other forms of online content (Hubspot)
- An overwhelming 90% of consumers say that product videos help them make purchasing decisions (Hubspot)
- 76.5% of professional marketers and SMB owners are seeing results with video marketing (Buffer)
- Brands which use marketing videos experience 49% more year over year growth.
Now that you’ve seen how essential creating marketing videos is for success, what’s holding you back. Cost?
In the past, video marketing was generally reserved for businesses with deep pockets. After all, you had to hire a team to shoot the video, actors to be in the video, and editors to make it all look good. Throw in a price for costumes, makeup, and *gasp* a set and you’ve got yourself a whopper of a price tag. Pile on the fear of it being a mediocre ad with your entire budget promoting it and you’re sorta screwed (use our Video Production Cost Estimator to get a good idea of the potential costs of making a video using a production company).
Well, thanks to the internet, showcasing your marketing videos has never been easier. And thanks to companies like Promo.com, there has never been a better, quicker, more cost-efficient way to create marketing videos without having to sell your vintage video games or limit your other growth strategies.
Create a Plan
Video marketing for business is not something you “just do.” The first step is to create a plan and incorporate it into your overall online marketing strategy in order for your efforts to have true potential.
So, what does a video marketing plan look like? Begin by considering your output. How many marketing videos do you plan on making? Consider your frequency. How often do you want to post them? Are you running ads? Where are you running those ads? What’s your ad budget?
We know that is a lot of questions to ask yourself, but that’s why you’re creating a plan. This plan will let you get to these nitty-gritty details and get a feel for what works with your schedule, and what’s doable. That’s Progress, with a capital P.
6 Elements of a Video Marketing Plan
Define Your Audience
Creating a “buyer persona” as part of your marketing plan allows you to truly know your target audience, especially when creating video stories. It may sound silly, but every company (including your competitors) knows who their ideal customer is. In fact, they’ve named them, given them a personality, a job, and a salary.
Ask yourself – Who are they? What are they looking for? What do they value? What position do they hold in their company? For instance, Lululemon’s buyer persona is a 32-year-old woman called Ocean. She is a single professional that makes $100,000 a year. Feel like you know her? They do too. That’s why they know exactly how to get her into their store. This persona focuses their marketing strategy and reminds them who is taking their products home at the end of the day. It works wonders for them, and it can do it for you too.
What to include:
Look at your current customers/clients and use them to help inform your fictional personas. You can even use the name of a well-known customer to make it a little more real. Or, you can go celebrity style and name the persona Apple – it’s up to you.
If you’re looking for what works, there’s no better place to start than by looking at the competition. Observe your competitors marketing efforts. Sign up for their email lists, join their groups, and follow their social media pages. Believe me, if they haven’t already, they’ll be following you soon.
Here’s what you want to notice: What ads are they running? How are they approaching their customers? What’s more, what seems to be working and what isn’t? A common strategy among large corporations is to look at the competition and follow suit. Consider, how many times you see a cluster of fast food joints. Where McDonald’s appears, Burger King is never too far and, suddenly you have three or four places to source your hamburger. Great for us, more competition for them.
When it comes to video marketing, the same rules apply. While you shouldn’t copy your competition’s ads (please don’t) you should take note of their content and see how it resonates with their audience. Are they getting a lot of likes and shares? Why is that? What social platforms are they most active on? What is the key messaging and paint point they are answering? How frequently are they sharing new content?
Observe the competition. See what works (and what doesn’t). Then, do it better!
Like anything else, it’s hard to know what success looks like if you don’t have goals to meet. Your goals will help dictate which platform to begin your video marketing efforts. Facebook, for example, is built for engagement and conversions and Twitter is best used to start a conversation and drive traffic to external sites. When creating your video marketing strategy, consider both the goal of the campaign and the best uses of the platform you’re distributing on.
Your goals may include:
- Increasing your reach (more followers)
- Engagement (likes, shares, etc)
- Conversions (click-through rates, revenue)
- Awareness (impressions, views)
Remember to include a number with each goal. This can change as you learn more but it’s always essential to make realistic and tangible goals rather than theoretical ones to monitor your success. For example, how many more followers do you want? How much are you willing to spend per conversion? To make more informed objectives, check out industry benchmarks to see what numbers you should be reaching. Don’t be afraid to adjust your goals as you gain more experience.
Create a Content Calendar
As a part of your comprehensive online marketing strategy, planning your content publishing and distribution is a crucial component. Create a dedicated calendar where you can plan and arrange your content. Do this for at least a month in advance to avoid being caught without content and make sure you’re hitting all the big moments, like holidays and industry events. You want to keep track of what content you’re creating, where you’re distributing it, and the specific goals of each piece.
This may sound complicated but it really isn’t. Look at it like any other planner or calendar you might use in your regular life. It keeps your content organized and focused on the goals of your strategy. It might sound like a lot of work but there are tons of online tools to get you started. Promo.com monthly calendar covers every single day of the year with great daily content to share on your socials. You can even sync it to your own personal calendar so you are always inspired and up to date with post-worthy events.
Define a Budget
Money makes the world go round, so it isn’t a surprise that cost is a central consideration for any marketing strategy. Define what’s your video marketing budget and what you are willing to spend on each component. Use your marketing dollars wisely and invest in cost-efficient tools like Promo.com’s video creation tool to execute the videos optimized for every social channel. Then set a budget for each platform and adjust as you see your return on investment.
Obviously the more you can budget, the greater your reach. But, you can’t just upload your content, throw in some money and then “set it and forget it.” It’s essential to keep an eye on which ads do better so you can grasp an idea of what your audience wants to adjust your bids accordingly in real-time. Keeping a social media scorecard is a great way to keep track of your efforts and make sure that they are worth your resources.
Continue updating your marketing budget as you see fit and fine-tuning according to your experience and industry benchmark. You should think of your budget like an AC, there is a perfect temperature, you just have to turn the dial to find it.
Part of that strategy we keep going on about entails selecting the objective of your video. What is the “point” of it? What action and reaction do you want from your viewer? This is how you will decide which kind of video you are creating to accompany each ad campaign.
Intro Video / Branding Videos
In short, they’re a great introduction to your brand for first-time viewers. These tell your brand story, show your company’s personality, or tease your audience with some enticing company information. In the past, this type of videos was often filmed by companies looking to create a brand story for investors, customers, or potential partnerships at the beginning of its growth and less frequently shared as an ad to the public. Now that it’s so simple and affordable to make a clever brand video they are worth sharing with your greater audience no matter what stage your business is in. We always want to know more about a company’s DNA.