March 6 2017
Inbound marketing is an effective way to connect with potential customers and strategically deliver information. One of the most successful tools is video. According to a recent Hub Spot article, the amount of videos posted to Facebook has grown 75% over the last year. On Twitter, visuals also produce 18% more clicks, 89% more favorites and 150% more retweets. Although you can’t deny the potential return, there is an investment associated with producing videos. Here are some factors you should consider if you are planning to create original videos.
Platform Where it Will be Viewed
If you are producing your video for television, there are various options associated with airtime to consider. Most inbound marketing efforts are produced for social media. YouTube is the most popular video hosting site. Vine and Snapchat are also gaining popularity. Although these outlets are free, advertising to increase the number of viewers comes with a cost. Facebook adjusted its algorithm to decrease the impressions companies get from their followers, paid advertising will increase your video views. No matter where the video is found, strive for quality in execution and content.
Concept Planning and Execution
Turning an innovative idea into a great video takes planning. Do not make the mistake of not including the value of this time in your cost estimate. Be sure to include the time associated with script writing, story boarding, shooting, any special effects, graphics and multiple sets of edits once the client has access to the video. Many companies do not make proper allowance for the time and costs associated with making a video. A pre-production meeting is recommended.
Not all videos are created equal. If you are planning to create 15 one minute videos, or a 15 minute video the costs are different. Add up the number of days you will need to actually be shooting your videos as you are evaluating costs. If you do a more traditional video shoot using actors in a physical setting, remember to calculate the cost associated with staff. You will need a director, camera operator(s), grip, gaffer, and various other hands on deck for the shoot. If this is a longer shoot do not forget to include the cost associated with housing, travel and food. Locations themselves can also be expensive to rent or dress up to make fit your client’s desires.
The Final Look and Sound
Voice talent and music are a very expensive element of video creation. Music royalties or the cost of having original music recorded can easily amount to thousands of dollars. There are ways to get access to royalty free music, but with the reduced cost you may not get the exact sound you were looking for. Voice over talent is also a costly expense. Ensure you get the sound and read you envisioned for your associated cost.
Acting and graphics can make or break a video. Professional actors are another expensive part of video production, but they will come with the professionalism required to get the shots faster, saving you time and money when it comes to other elements of your video. If you decide to not use actors, but instead to use animation, it is also be costly. You again have to weigh the difference between professional and armature and determine where you want to invest your money. Also consider the software required to successfully complete an animated project.
Videos are an Almost Essential Part of Inbound Marketing
Make sure that your production costs don’t break the bank. Don’t forget the most important part of any video is the content. Educate and entertain your audience. That can be done in your office with a smart phone if it is what you have available or you can spend hundreds, of thousands of dollars on a set. When you are planning your videos make sure you know your budget and stick to it. Videos don’t have to break the bank to break you into a new market segment.
By Stevens Strategic Communications, Inc.
Courtesy of Stevens Strategic Communications, Inc.