Is Video too Successful for Video Production BUSINESSES Own Good?

You may have seen articles, such as this one from the Guardian http://www.theguardian.com/small-business-network/2014/jan/14/video-content-marketing-media-online or various infographics https://highq.com/2015-year-of-video-marketing/ that lay on thick and fast the benefits of having video content. Of course I’ve used them myself to promote the Cambridge Video Production Company’s services, and I honestly believe (most of them) to be accurate. We don’t like the ‘hard sell’ approach, so we’re not using these figures and stats to scare customers into thinking that if you don’t have a video right now, you will be missing out and be left behind (by 2018, it is predicted that 79% of all consumer internet traffic will be video).

In the last couple of years, and especially just the last 6 months or so I’ve seen for myself a big shift in awareness of the importance of using video as part of your marketing strategy. 2 or 3 years ago, many business decision makers wouldn’t give video a 2nd thought, maybe thinking video is just a relic of the 90’s corporate video, or just a waste of time and money. Now marketers and decision makers have been seeing a direct ROI from video content, long story short - marketing, web and corporate videos are kind of a big deal now.

Maybe too much of a big deal. Something I’ve noticed the past couple of months, is the increase in full time, in house Video Producer job positions. This makes sense for several reasons, instead of a stand alone video, video can be incorporated into a larger business strategy. Of course a video production company can do this for you, but then costs come into it and it could be more cost effective to employ a video producer.  An in house video producer will have a greater understanding of what direction the business is going in, and can work more efficiently with their colleagues.

I haven’t got any stats or figures to back up the growing resurgence of the in house video producer, that I might just be making up, but I have seen more and more of these positions cropping up. Albeit with the bigger businesses and institutions. Don’t worry, smaller, independent businesses - we will be here and happy to serve you for all your video content needs!

It would be interesting to see how successful these positions are over the next years, as this must be very much uncharted territory. And closer to home, how will video production companies alter their business strategy to keep up?

What Video Can do for your Business (without the Piecharts)

A minute of video is worth 1.8 million words. you might have seen or heard about this before, and it sounds pretty amazing. Of all the video marketing statistics I’ve come across, this is the one that really has stuck in my head. 

It comes from Dr James McQuivey, of Forrester Research, in his study ‘How Video Will Take Over the World’. I thought about using this statistic in a motion infographic I’ve been working on, but I just had this nagging feeling it wasn’t quite right. We had a bit of a think in the office and we worked it out.

It originates from the old adage ‘a picture is worth a thousand words.’ Videos are sped up pictures. Typically 30 frames per second. Most web videos are a minute long. So based on the old saying, one second of video is worth 30,000 words. 30,000 words a second x 60 seconds = 1.8 million. Not the most accurate statistic out there.

After that we pretty much abandoned our planned motion infographic, just because we weren’t 100% sure where the numbers were coming from, how accurate the sources were, how they were even measured in the first place and I’m sure all these studies were done in the US. Just culture wise, businesses and consumers in the UK are different to the States.

There were some great numbers and statistics though! 

  • Video converts better than any other medium.
  • 59% of senior executives prefer to watch video, instead of reading text, if both are available on the same page.
  • Using video on your landing page can increase conversion by 80%.
  • 64% of consumers are more likely to buy a product after watching a video about it.

All what we go on now, is experience. We don’t want to ‘sell’ anybody, based on great sounding soundbites and stats. Everyone’s needs are different, some would benefit from a video more than others. And we’ll tell you that. It’s just how we are. We love working with smaller, independent businesses and we know your advertising and marketing budgets are limited. We’ve advised before “maybe a video at this stage isn’t for you.” But luckily for everyone involved, most of the time, it’s more like “Oh my God what you do is amazing. You absolutely need to have a video to promote this.”

If you are a small business owner, and maybe have been thinking recently about having a video, please get in touch 01223 656354 or email kai@cambridgevideoproductions.co.uk. Get us excited and tell us what amazing thing it is that you do, and in return, let us show you what we can do for you.