If you’re one of the many CMOs adding video to your marketing mix for the first time, there are a handful of measure you can take to help ensure that your video marketing program is a success.
In the B2B Content Marketing 2019: Benchmarks, Budgets, and Trends report, published by MarketingProfs and the Content Marketing Institute, 94% of survey respondents report that their spending on video will increase or remain the same over the next 12 months. (This is the first time that video is expected to outpace spending for written-word marketing.)
With so many marketing organizations adopting video, success rates are bound to vary.
Experienced marketers can improve their odds of success by employing a few measures that apply not only to video marketing, but to all the other marketing channels you’ve been working with for years.
Don’t use video to compensate for your lack of strategy.
It’s easy to believe in the “magic powers” of a new marketing tactic, and video can certainly be transformational. Like websites, email and social marketing before it, video dramatically changes the way your market engages with you, and it can be leveraged to great advantage.
Still, video remains, at its heart, a tactic, to be utilized as part of a broader marketing strategy. As such, it relies on strategy components, like positioning, targeting, and messaging to make it work.
Video is rarely deployed in a vacuum. Rather, it works with other channels and tactics in order to be truly effective.
If you aren’t properly positioned, if you’re not targeting the right customers, if you don’t have your messaging nailed down, video will be no more effective than the other tactics you’re using. If you don’t have your act together video won’t save you.
Develop a strategy for each video you produce.
Video is a tactic, but each and every video needs its own strategy. Like your other content, you should know exactly what each video is intended to achieve, and how you expect to achieve it.
You may know who your intended audience is, and how best to message to them, but also, before you ever turn on a camera, you should be able to answer the following question about each video you plan to produce:
- What exactly do you want your audience to do when they watch your video? You want them to click on a link? What link? How do they get to the link? What does the link do?
- What other campaign components will be necessary for success? Email? Advertising? SEM? How does the sales team get involved?
- Which channels will you distribute your video through, and how will you optimize it to work equally well on all those channels?
- What metrics for success have you established for your video, and how will you track those metrics?
- What are your testing plans for your video? How can you tweak things over time to ensure that your video is achieving maximum results?
This is the very tip of the video strategy iceberg. By sweating every possible detail, you’ll dramatically increase your chances of video marketing success.
Don’t treat video as a novelty.
Like other elements of your marketing mix, video marketing is most effective when deployed programmatically. You would never send just one email, or write just one blog post. Video is no different.
One-off videos almost never work, so the idea of producing a single video that goes viral and makes everyone rich, is mostly a myth. You need more than one video.
Different videos are geared to work differently at different stages of the customer journey. You should have video that supports your entire pipeline, from awareness, through consideration, conversion, and beyond.
Like your other content, video should be strategically deployed to speed your customers through the funnel, over and around objections, and into a transaction or other significant engagement.
Think before you DIY.
The cost of video equipment has been steadily dropping, and the temptation to produce video content with in-house resources is strong. While there’s no doubt that every CMO should be working to build capacity for video within their teams, be sure you don’t try to build that capacity too quickly, or without sufficient funding.
There are two lenses through which you should look at the video marketing production process.
The first is quality or complexity.
Imagine a spectrum with, let’s say, a quick smartphone video on one end, and a Super Bowl commercial on the other. Where do your videos reside on that quality/complexity spectrum, and what will you need to produce them.
The second lens is the different stages of the video marketing process, and your ability to execute on them effectively.
For starters, there’s strategy, pre-production, production, post-production, and promotion. Each stage requires specific skills. Do you already have all those skills in-house, or will you have to buy them, or develop them overtime?
Don’t make the mistake of trying to produce top-end video, without the in-house capabilities you need at each stage of the video marketing process.
If you’re serious about building in-house capacity for video marketing, start with what you have and outsource everything else you need. The different stages of the process are pretty discrete, and can be easily split between in-house resources, and outside vendors.
For example, you might want to rely on in-house resources to shoot your videos, but outsource the entire editing process.
Find a good video marketing agency that is willing to work with you as you build capacity.
The use of video marketing is only going to grow over time, and every CMO should have a plan for adding video to their marketing mix.
Whether you build capacity in-house, or outsource part or all of the process, you should approach the topic with all the marketing and management experience you have, in order to set yourself up for success.
Not sure which approach to take? Schedule a free consultation with us, and learn whether or not video is right for you, and what steps you’ll need to take to make video a profitable part of your marketing mix.