Is Video for Business a Worthwhile Investment?
In a day and age where we see video nearly everywhere – both online and off – businesses and organizations are still wondering what the value of video really is. Those who have invested in video wonder if their money was well-spent, while those who haven't are worrying about what they missed out on. Here's what we know:
It Gains Value Over Time
The beauty of video is that it gains value with every view. As recently as 20 years ago, a company may produce a video for a paid commercial spot that was aired for a limited time. Think about that. Companies would invest tens-of-thousands of dollars in a video that could be all but extinct within one year, and only viewable on one device (TV). Now, there are several platforms for businesses to host their video (e.g. website, YouTube, social media platforms, email) – all of which are viewable on desktops, laptops, tablets, and mobile phones. Video posesses a value of endurance that didn't exist a generation ago. Your video may earn only 100 views this year. But it may earn 1,000 the following year, or even 10,000 the year after that. Investing in a professionally produced video project is a more reasonable investment today because of the power of owned media platforms which allow video to live forever.
Return On Investment
When done right, it can. Video hosting platforms like Wistia and Vidyard allow marketers to include call-to-action buttons that drive viewers to landing pages where email addresses can be gathered. Even better, call-to-action buttons can be used to drive viewers to an eCommerce page – where a direct sale can be made.
Have valuable content that you're not willing to offer for free? Go one step further and require an email address (also known as "gating") before the video content can be viewed. Your sales team will be rubbing their hands together with joy.
It's Efficient and Can Build Trust
Video has the ability to provide the greatest amount of information in the least amount of time. The combination of video, audio, photos, graphics and text make it the most efficient form of media communication. This blend of communication also allows your business to be engaging while showing personality. Video can give your brand a face (literally and figuratively) – which in an era of brand mistrust – is a huge benefit.
Consider how important things like body language and tone are when you're deciding whether to trust another person. Brands are no different! Video can convey these non-verbals in a way text, images, or audio alone cannot.
It's Portable and Versatile
Creating video content for your company is an extremely portable and versatile strategy, giving you a lot of options. It's not just that it can be viewed on multiple digital platforms from many different devices. Consider that:
- Your culture video/overview video is both a marketing AND HR tool
- Your video can be transcribed to help with search engine optimization
- Video can help with lead scoring by measuring viewer behavior
- Your full-length About Us video can be sliced into smaller videos for social or email sharing
- Video can be used to communicate case studies, testimonial tutorials, product reviews, events and more
Like any investment, you should know what your business is getting in return from a video production company. We hope this helps.