Hey everybody. Michael here talking about video and marketing. This is part two of Three Hard Truths about Video Marketing.
Truth number two, you're buying it wrong. We do a lot of video. We do a lot of video production. We've been doing it for years and years and years. We're in our 11th year of business, one of the fastest growing companies in the Southeast US, and we see video as absolutely essential to our growth and our success, and you should too. Here's the worst way to buy video and the way that most companies come to us asking about video. They have something that they think is really good, it's sort of a mountaintop experience for them. Maybe they've acquired a new location, want to put on a video. Maybe they have a new member joining, or maybe they have a new product or service, and what they do is they ramp up an entire production process around producing one or maybe a handful of videos, and that is the absolute worst way to do it.
When that happens, your cost per video is pegged at the very highest it can possibly be because you're talking about such low quantities. If you're going to get into video, you have to go into it with a much bigger plan for its use, and there are a lot of different ways it can be used, but planning, you think about your cost per video or even your cost per minute, but say videos are like two to four minutes or three to five minutes, your cost per video should be somewhere around a couple of thousand dollars a video. But the way it always gets shopped when you come out with just, "Hey, we got to make a video about this." Inevitably you're going to end up more in the frame of five to 20K per video, and that's just not productive with digital marketing. So the way to think about it is to think about shoots that are going to lay down a base for the year.
Don't think about producing video unless you're willing to either spend a lot for very high production value for a very small number of videos. Instead, think about producing a minimum of 12 and doing them all in a set shoot day or a couple of days to get them all at one time. What's going to happen if you take a marketing channel approach, rather than a single video approach to thinking about your video marketing, is you're going to distribute those heavy, heavy production costs that happen on the shoot days across the entire year, and think of it more like a channel, and that's really better for any kind of business. It doesn't matter if you have a product or a service, if your audience is B2B, B2C, if you're big ticket or commodity, it doesn't matter, video production is expensive, and if it's distributed over more output of videos, it's going to be better.
We'll talk about that a little bit more in the next video about thinking about the production process. All right, we'll see you on the next one.
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