Buying a New Video is Like Investing in a New Pair of Boots.
You wont know if it was a good investment until you have had some use out of it for a while. Their true value may not even become apparent until you have almost worn them out.
So how can you ensure that you are making a good investment in a video for your business before any money changes hands? Do your due diligence. Just as you would with any other investment.
Here are some questions you might consider asking yourself before parting with your cash.
Ask yourself these four questions first.
1. Why do I need a video?
2. What do I want my video to achieve, its objective?
3. Is my need for a video a long term investment with the return written down against the cost over time? Or is it to meet a short term goal that needs to provide a quick return against the cost?
4. What can I afford to spend to achieve the goal defined in question (3)?
Now you have a goal. What video style will work best?
5. Does your business have a physical product which it sells, hires or otherwise uses to generate income? If your answer is yes go to (9). If your answer is no go to (10).
6. Is your business a technical or professional service based one wherein your only visual resource is your people or your place of work? If your answer is yes go to (10).
7. Are you a business that has people who do interesting things that have a physical outcome? Some examples might be a Builder, a Plumber or Wind Turbine Servicing company. If yes then go to (9)
8. Do you sell a physical product that can be photographed or filmed either being produced, used or serviced? If your answer is yes then please go to (9).
9. If you answered yes to questions 5) 7) or 8) then you sound like a business rich in visual resources that can be filmed and edited to create a variety of visually rich video content. Lucky you, as you have the means at your disposal to create regular content showing your audience the benefits of your business in a visually engaging way.
10. If you answered yes to questions 6) or no to question 5) then we feel for you and the challenges you face in an increasingly visual marketing environment.
You are what we define as being a “Visually Impoverished"™ business.
Be reassured that you are not alone. There are a growing number of your type of business blossoming around the globe. The general shift towards a digitally driven economy fuels this growth.
What does "Visually Impoverished"™ really mean?
People driven businesses all tend to look the same. Yet every business has a unique story to tell. If you find that you fit the “visually Impoverished”™ category of business. Your best alternative to filmed video of your people or your place of work. Is to invest in visually rich animation or illustrated storytelling instead.
The only exception to this, would be customer case studies. Or testimonial videos if your industry regulations permit these. Stories showing outcomes rather than the specifics of your product or service will also work.
Your final challenge? Set your budget
Your final challenge in deciding where and how much to invest in your online video. Is to define its purpose and how much it will cost to distribute it.
Who is your target audience? What would they find of value? Where might this audience be found? How much will it cost to reach them?
Anything which helps you build your reputation as being experts in what you do has value in the long term. But even organic distribution needs to be planned for and requires an initial boost to help make that happen.
You need a distribution plan for how you will reach your audience. This needs to have a budget attached to it. This cost may cause you to reconsider how much it is worth investing in your video in the first place. It will also clarify where the bulk of that investment needs to be spent. Production or distribution.
Your objective may be to grow your audience with a video at the budget end of the production spectrum with a larger sum set aside for to cover distribution costs.
Or opt to create a video with much higher production values, produced specifically to resonate with a well defined and attentive audience you have already have, where your distribution costs will be negligible.
If this article has left you asking more questions than it has provided answers?
Then you might consider talking to a specialist video marketer before engaging a filmmaker, videographer or cameraman.
Or you could always ask us for a steer as to which direction to head in.