ROI of Video for Brands: Why Invest in Video Production?
What’s the ROI of using video in your brand’s marketing strategy? Here’s what you need to know about the benefits of investing in video production.
As one of the hottest and fastest-growing areas of marketing in 2023, video marketing is an exciting field. Yet, while some brands have taken to video marketing like TikTok users to their #fyp, other marketers are still sceptical. Is the investment of time and resources in video worth the effort?
Even with big budgets and a star-studded team, there’s always the risk that your video will flop and make your brand look bad – just think about the infamous backlash to Pepsi’s poorly-judged advert with Kendall Jenner in 2017. Moreover, some brands, especially in the B2B space, wonder if video will resonate with their target audience in the first place.
These are natural and valid concerns. As many marketing budgets shrink, it’s more important than ever to carefully select your marketing activities in order to maximise ROI.
So, what are the benefits of investing in video production, and is this marketing strategy right for your brand? Here’s a breakdown of how and why brands can boost their return on investment with video production.
How much does video production cost?
The cost of video production can vary substantially, depending on the type of videos you create, and whether you decide to make them in-house or use a video production agency. For example, short TikToks and Instagram Reels filmed in your office can cost next to nothing, while hiring an experienced agency for a professional-level brand video or case study video can cost a few thousand pounds.
While professional video production isn’t always cheap, it can successfully drive sales and revenue in the long run. Here are some of the ways that effective video marketing can benefit your brand’s ROI.
Video is perfect for building brand awareness
With attention-grabbing visuals and music, creative storytelling, and engaging editing, branded video content allows you to put your brand’s best foot forward. Video marketing can be innovative and powerful, offering easily shareable content that builds awareness of your brand. Compared to other forms of marketing, video can be the best way of gaining a following and grabbing the attention of your target market.
Video increases customer loyalty and trust
Compared to other forms of marketing, video can feel more authentic. By focusing on real peoples’ stories – whether that’s your brand’s founder, team members, or customers – video content helps viewers connect and build trust with your brand. From behind-the-scenes videos to interviews and testimonials from happy customers, video content can lead to more loyal customers who feel aligned with your brand’s mission and products.
Video is memorable and leads to more sales
Research suggests that people retain much more information if they have watched it in a video than if they have read it in written form. With attractive and interesting videos, your brand has a greater chance of sticking in a viewer’s mind and encouraging them to convert into a paying customer.
Video can drive engagement
Whether your video content is inspiring, provocative, funny, or educational, the easily shareable nature of video inspires people to share and engage with it on social media. This helps get your brand in front of a wider audience and better establish your position in your industry.
Video boosts your traffic and SEO for increased revenue
Great video content can gain you recognition. When news sites, influencers, and blogs link to your website’s videos this drives traffic towards your company site and can even aid your search engine optimisation strategy.
Video is an ideal way to educate customers
Whether you’re a B2B brand selling a complex product or a B2C company trying to convey complicated ideas in an easily digestible way, video is one of the best ways to educate customers. From animated or whiteboard explainer videos to easy-to-follow tutorials, video content is a great way to educate customers about your product or service and why they need it.
With all this in mind, it’s no surprise that 92% of video marketers agree that video has a good ROI. Video can be valuable at each stage of the marketing funnel by building brand awareness and showcasing your brand personality, educating customers about the benefits of your products or services, inspiring them to convert with authentic and engaging content,and connecting with customers to build brand loyalty. Overall, video can have a significant impact on your bottom line through increased sales and revenue.
Of course, creating successful brand videos is no easy feat. For this reason, video production agencies like Perspective Pictures have become a popular solution to ensure the best results and ROI from your marketing strategy. Offering a wide range of options from brand videos to explainers, case studies, documentaries, and TikToks, Perspective Pictures helps brands achieve their marketing goals with unique and creative video content.