73% of B2B marketers say that video has a positive impact on their marketing results, according to the 2015 B2B Video Content Marketing Survey. However, that same study pointed out that only 13% of organisations spend more than $50,000 a year on their video production.
That number is moving upwards with 41% of organisations planning to increase their video spend in 2016. But for now many businesses are still working with a relatively limited budget.
The great thing about video is that you don’t have to spend a fortune in order to achieve outsize results. Here we will look at four ways that you can make the most of your video marketing spend.
#1 Create Multiple Videos To Reduce Your Marginal Cost
One of the best ways to get the most from your budget is to produce multiple videos from the same footage. A production crew can capture more footage than is needed to create a single video edit. Consequently it is not twice as expensive to produce two videos as it would be to produce one. This is where a video production company can really help. They will be able to advise you the best way to get the most out of your budget and the footage that you capture.
#2 Look For Areas Where You Can Economize
Animation has become one of the most popular types of online video. And animation really does have a lot of benefits. Done correctly it can be fun, attention grabbing and your imagination really is the only limit in terms of what you can create. But, some types of animation can be expensive. If you decide that you want full “Lord of the Rings” style CGI animation then the cost will be commensurate.
If instead you opted for 2D animation you may be able to achieve the same marketing goals at a fraction of the cost. Another option is to use a combination of live action and animation. This can be a great option if you want to create a video which looks technically sophisticated but at a lower price point. Below you can see how we overlaid animation onto live action to create an explainer video for the GoTeam App.
#3 Reduce The Length Of The Video
If you decide to create an animated video then you should think carefully about the length. The difference between an animated video which is one minute and one that is thirty seconds longer can be significant. This can be a smart way to economise because in general shorter animated videos are actually more effective. Read this article on the ideal video length for a corporate video to see why going shorter can give your more bang for your buck. A shorter length forces you to think carefully about what features and benefits you really need to include and the most succinct way to present them. The end result is often a video which is more engaging, direct and maximizes viewer retention.
#4 Request Photo Stills
Requesting photo stills is another way to leverage the marketing benefits of your shoot. A production crew can typically capture photos while they are filming. These stills can be used for a range of marketing purposes from preparing promotional materials, to use in blog posts, to sending out as part of a press release package.
Video is one of the best ways of increasing traffic, trust and ultimately sales conversions. Having a limited budget to work with doesn’t mean you can’t make the most of this promotional channel. Get in touch using the form below and we can advise you on the best way for you to achieve your video marketing goals while staying within budget.