Why You Need Video Marketing
YOGI’S FITNESS – A SMALL BUSINESS CASE STUDY
“In 2022, audiences spend an average of 19 hours per week watching videos online.”
State of Video Marketing Survey 2022
VIDEO USAGE OVER TIME
86% OF BUSINESSES USE VIDEO AS A MARKETING TOOL.
Video is an essential part of any business that wants to raise brand awareness, convert leads, and increase revenue. Many who aren’t yet using video marketing think it’s too difficult, or too expensive. Before opting out, consider the potential benefits of what video marketing can bring you. Yes, it may seem expensive and time consuming up front, but your return on investment has a very high chance of success and growth. Consider it an investment in growth, brand awareness, and potential additional earnings.
It doesn’t matter if you’re selling a product, or a service. If you’re a big brand, or a sole proprietor. Video has been engrained in our modern day society, and it’s here to stay. If you want to grow, you need the tools and platform to do so.
Ok ok – but where’s the evidence?
First, lets consider the studies. According to the highly recognized study published yearly by Wyzowl:
- 23% of non-video marketers don’t use video as they lack time.
- 16% of non-video marketers say they don’t use video as they don’t know where to start with creating it.
- 97% spend less than 10,000 on video.
- 93% of marketers say video has helped them increase brand awareness.
- 81% of marketers say video has helped them directly increase sales.
- 87% of marketers say video has good Return on Investment
Yogi’s Fitness – Small Business Video – Created by Alex Hogue
Yogi is a highly certified personal trainer. She has owned her own fitness studio in Laguna Beach, CA for several years and now continues her business headquartered in Bend, OR. She works both in-person and remotely with her clients who range from highly decorated athletes, to cancer patients.
Let’s initially focus on the two major barriers to entry into video that scare many potential video marketers:
- Lack of time
- Don’t know where to start
There’s no way around it, video is time consuming. But consider it as time spent upfront for a long-term time savings. In addition, you don’t have to do it alone.
Take the small business video example above, Yogi’s Fitness. Yogi runs her own personal training business. Prior to this video, she would repeat her story over and over to prospective clients. That’s time that could be spent in many other ways. By making a video to convey that, she saves herself time by not having to repeat her story, and being able to passively tell her story to a significantly larger online audience.
So how much of HER time did this video actually take?
- ~ 2 hours of initial planning meetings
- ~ 5 hours of production (travel time included)
- ~ 1 hour of review meetings, mostly remote via Frame.io remote video review platform
So for about a day of Yogi’s time, she now has an asset than can be viewed, replayed, and shared with a larger audience than she could ever accomplish in-person during a lifetime.
So, where did she start?
Yogi looked for an expert in a field that she didn’t have experience in.
“People are TWICE AS LIKELY to share video content with their friends than any other type of content, including social media posts, blog posts, and product pages.”
State of Video Marketing Survey 2022
Making a video can be overwhelming. This is why its important to invest in someone who can break-down the process and simplify the workload.
Many are afraid, and outright skeptical of the costs associated with video. Here are a few considerations when it comes to price.
- If live action, the more locations and people, the more complicated and expensive things get.
- Animated videos take a considerable amount of time to storyboard, design, animate, and make changes – these may seem like the easy option, but can easily be more expensive than a basic live-action video because the editor has so much time behind a computer.
- Shorter is typically better. Don’t tell your entire life story, make your talking points have a purpose. This will also help keep costs down exponentially.
- If you’re looking for an low-charging individual, maybe still in college – consider that they are often less honed in their skills and may take longer, require more direct feedback (or 8+ versions), versus a seasoned veteran who might have a video done in 1-3 versions with minimal input needed from you. What may initially appear to be cheaper ends up costing you not only more money, but more time.
Consider video for Instagram targeted advertising. Allowing you to direct a targeted (interested) audience to your product or service. All while gaining insights to your consumer audience.
Save money by working directly with a dedicated individual.
If Yogi invested in an agency to make that same video, it would have easily costed 3x as much. Why? Because often these agencies outsource to other independent contractors. If they do have in-house employees, then they typically need to pay multiple individuals for each area (graphics, editing, production) and provide them employee benefits. All of this costs money and resources. In order for them to make profit, they have to charge more.
By working direct with an artist who knows production, editing, graphics, sound, color…. and in general is experienced in their craft, there is a lot of time and money to be saved. In addition to this, since you work with one person directly – the video typically ends up being more authentic and relatable because you are working working with the same dedicated individual throughout the process.
If you invest smartly, the process can be simple and your destined to grow your business.
Alex Hogue has created video for many global Fortune 500 companies, as well as small businesses and viral media content. To collaborate, visit Connect.