Some business owners, directors and even marketing directors are holding outdated ideas about corporate video production.
Is that you? Or your bosses?
Do you assume that video production will be overpriced, a pain to produce, and won’t really provide good return on investment?
Do they have a misconception that in order to produce marketing video they will have to deal with shady youngsters, who spend their time on mysterious social media sites, and will bamboozle with mysterious tech and marketing speak?
Does your company believe it’s hard to find a corporate video production company who will produce high quality video, will be straight about costs, and will work intelligently with your organisation?
Does any of this sound a little familiar?
These Ideas Are Untrue
There are quality video producers and videographers to be found, and they will produce effective and compelling corporate video with reasonable budgets.
It is possible to overcome barriers in your organisation but it takes having the facts at your fingertips.
So here goes…
Budget For Corporate Video
Quality video production has never been cheap, and it still isn’t. However, once you place the cost in the frame of return for investment the picture opens up…
The average cost of a 90 second high quality ‘live action’ promo video breaks down like this:
Pre-production costs – concept development, production planning – approximately $1,000
Production costs for a one day shoot – production crew, equipment, location – approximately $2,000
Post-Production costs – editing, colour grading, voiceover recording, music sourcing, sound mixing/mastering, music licensing – approximately $2,000
So, you are looking at an average of around $5,000 investment.
You or your bosses turn pale at this stage and dismiss the whole idea right? Or suggest cheaper options?
Let’s Make It Cheaper?
Poor quality video damages your brand and will actually make customers less likely to buy from you, or engage with you.
Unless you have experienced videographers on board internally, and decent video production equipment, you’ll end up with something shabby if you try to make video yourself.
It is important to have a sense of what budget you can afford and discuss that with an experienced and reputable corporate video production company.
Be wary of super cheap offers, it usually means you are dealing with less experienced or amateur video producers. This is your brand, semi-professional is not good enough for what will be a common first point of contact with the public.
The difference between $1,200 and $5,000 will pay off when you give your company the best possible chance to increase your sales by 64%.
Return On Investment
ComScore did a study recently to find out how videos influence a website visitors buying decisions. The results were astonishing.
64% of customers were considerably more likely to buy a product or service after watching a video about, or related to, the product or brand in the video.
That is a kind of ROI that speaks for itself.
Corporate Video Production Sydney
In Sydney video seems to be produced by a plethora of companies. At filmstretch we pride ourselves on the level of quality we provide and we are truly experienced film makers and videographers.
We have specialised in corporate video, web video and marketing video, and we have the maturity and industry knowledge to be corporate friendly and web savvy.
We offer pre-priced packages with set budgets that give some saving on the market average for individual corporate videos – a rarity in the corporate video production world – because we know that budgets vary from SMEs to large corporates. See our range of packages here.
If your company comes to us with an idea of budget and has a conversation with filmstretch we will be clear and fair about the level of quality we can offer for your money.
Contact us here for a conversation now.
But How Do I Convince My Boss?
You know that video is a must for businesses large and small now. You know that your company could benefit enormously from creating video – boosting sales, raising brand awareness, training staff more cheaply, recording events…
Your bosses need to understand the ROI proposition of video. If 64% improvement in sales doesn’t tempt them I have listed some useful video marketing statistics at the bottom of this article. All those statistics come from reputable sources.
Facts & Statistics About Marketing & Corporate Video ROI
- Cisco have predicted that by 2019, over 80% of all consumer internet traffic will be video content, with nearly a million minutes of video content being uploaded every single minute
- One minute of video is the equivalent of 1.8 million words online according to Forrester Marketing group research.
- They found that including a marketing video or explainer video in emails increases the rate of readers clicking to the company website by 200-300%.
- YouTube reports that is has over a billion users, representing a third of people on the Internet!
- On mobile alone, YouTube reaches more 18-34 and 18-49 year olds than any cable network in the United States.
- The number of YouTube users watching on mobile devices has increased by over 100% year on year (2014/15).
- comScore – who measure and analyse online engagement and use – give us these juicy stats:
- 45.4% view at least one video online each month, and most users watch an average of 32.2 videos per month. That works out at 100 million internet users watching online video each day.
- comScore also informed us, as previously mentioned, that website visitors are 64% more likely to purchase after watching a video.
- They report that websites with video keep visitors an average of two minutes longer than those without video.
- comScore found that 90% of online shoppers find video very helpful in making buying decisions. They showed that retailers sell significantly more products that do have video than they do products with no video.
- Forbes surveyed executives and found out that they are watching work related videos on business websites at least once each week.
- 50% of those executives watch business related videos on YouTube, and 65% go on to visit the marketers website after having watched their video.
- According to Forbes 59% of senior execs would rather watch a video than read text.
- 45% of executives contact the vendor of viewed online marketing videos and went on to make a purchase for their business.
- The Online Publishers Association’s research showed that 80% of internet users recall watching a video ad or marketing video on a website they visited in the previous month. 46% then took action.
- Action like; searching for more information about the subject of the video, visiting the company featured in the ad, visiting the website of the company being marketed, or purchasing the specific product or service the video was about.
- Here in Australia a real estate group has reported that listing with videos receive 403% more inquiries than listing without. That’s quadruple the leads.
- An Implix survey about email marketing found that including video in an introductory email produced a result of 96% of readers clicking through to the company website. Twice as many people as when intro emails do not include video.
- Eloqua – who provide automated email marketing services – have found that using video in introductory emails reduced subscriber opt outs by 75%.
- Another online marketer described a 51% increase in conversion rates – from subscriber to lead – when video is included in an email marketing campaign.
Enough to persuade your bosses? We hope so.