It’s the time of the year where most companies are planning out their budget spend for the next go around. This can be a taxing process filled with more questions than answers especially when it comes to marketing. All the available tools and tactics can make it seem overly complex.
We can’t tell you how much you should be spending on video as a percentage of the whole because that comes down to the goals and objectives of the each organization. What we can tell you is that your video spend should be bigger in 2021 for these three reasons.
Story is King
Storytelling is at the forefront of everyone’s mind and for good reason. You will be hard pressed to find another tactic that connects as powerfully as story. This genre of video should be an essential part of connecting with your audience. Identifying your audience is key to this process. Once you have that figured out, set out to create content that caters to those individuals. Build stories around characters that your prospective consumers can relate to. Not only is this great for brand exposure, but also for engaging with people during the buying process.
2020 has become the year of virtual and at least the first half of next year will abide by the same trend. Restrictions on travel as well as meetings and events will remain online. This is a great opportunity to shift those dollars that were advocated for travel and events to up the virtual experience. Video segments and premieres are a fantastic way to engage those in the online space. On the sales front, you can use video(s) to replicate yourself to deliver the same message without being on the ground or to reinforce the pitch.
Many companies are upping the ante when it comes to internal communication through video. There are a couple reasons for this. It’s a great way to raise morale by sharing stories of good from within the organization. Secondarily, it supports new hires and training. Information sticks much better when it’s conveyed in video form. Lastly, a significant amount of people continue to work in home environments. Video is a big plus when engaging with this segment of people. Employees crave not only connection to the business, but also one another.
As you work through your marketing budget, you should be take the step of moving video to the front of the line. This will serve as fuel for your existing strategies or provide you with a healthy baseline to get your new hatched plan off the ground. Video is not a magic bullet. Its use must be surrounded by quality and a plan in order to reap the benefits on both the internal and external fronts.