Why are business so slow to adopt new advertising methods? With Digital, it’s never been easier to try something and the results are visible so stopping it is super easy.
You don’t need to go back many years and businesses would invest thousands in Yellow Pages adverts or Thompson directories with no hope off updating or changing them for at least 18 months. Compared to nowadays you can tweak, test and update campaigns almost instantly.
Most businesses are very slow to start using a new advertising medium. For example, it was almost 7 years before even half of FTSE 250 companies had a Facebook page. As a result, those businesses lost a major opportunity to smaller, more aggressive businesses that were willing to take the plunge on a new marketing channel.
When scary or risky things are going on around them, instead of taking action, they’ll stick their heads in the sand. Smaller businesses have a major advantage as they can move quickly to seek an advantage than the slower big boys, where there are risks there are rewards.
This was always the case with advertising. The adage says 50% of advertising works we just don’t know which 50%.
Today, businesses are facing a new opportunity with the same potential risks and rewards: video advertising. Video advertising is however very different. It can show which part of your advertising spend is reaching those who are interested in your marketing message.
All businesses and individuals will have concerns around Video Advertising. The question you and every other business out there should ask is, do the benefits of video advertising outweigh the risks?
It isn’t scary, today it’s not a nice to have it’s a must have and it will be critical to the growth of your business.
Here are the most common reasons I hear about why companies are hesitant to take their advertising to the next level using video ads:
1.There’s no guarantee of a return on investment.
2.What if the people hate my video?
3.What if we look stupid because of the video?
4.They take too long to make.
5.They cost too much to make.
Let me dispel some of these concerns:
1) There’s no guarantee of a return on investment
You’re right, there is no guarantee of a return-on-investment with video advertising. There’s also no guarantee of a return-on-investment with text or image ads, and you are already doing those. With Video however there is detailed second by second analysis of who and when and what device and exactly how much of your messages people watch
You can save a ton of time by reaching out to those interest’s prospects first
Video advertising may be a bit of an unknown right now, but that’s why we’re looking at the data in this article. The potential upside of your other advertising channels made them worth the investment, even though they were an unknown. Why is video advertising any different?
2) What if the prospects hate our video?
Unfortunately, you can’t protect yourself from public outrage by avoiding video advertising. Just ask Bic, who received massive criticism for this image ad:
What we can do is target who sees the video to give it the best opportunity to be presented in a target and focussed way
Let’s face it, any time you run any kind of campaign, you risk sending a message you didn’t intend. If you’re too afraid of public backlash to run video ads, you should probably avoid advertising altogether.
3) What if we look stupid because of the video?
Again, look at the above section. People love to mock businesses and advertisements, but that doesn’t mean that advertising isn’t a good idea. If your current image or text ads aren’t making you look stupid, odds are that running a video campaign won’t make you look stupid, either.
4) Video takes too long to make
Contrary to popular belief, videos only take as long to make as they need to. Typically, your time will be under three hours. Trust me, the people making your ad want to make sure that they are doing a good quality job on your project, but they also have other clients that need their time as well. Much like you and your business.
5) They cost too much to make
Now we’re getting to the heart of most people’s concerns. Creating a video campaign costs a lot more than creating a text or an image ad, which makes it feel like a bigger upfront risk for your business.
However, if that upfront risk produces much better results than a text or image ad, wouldn’t the investment be worth it?
To help answer that question, we’ve been running tests with video campaigns for quite a while now. In our tests, changing from image ads to video ads cuts cost-per-conversion and massively improving lead generation quality.
Which would you rather have quality or quantity?
Mitigating the Cost of Video Advertising
Suddenly, the question just changed from “can I afford to do video advertising?” to “can I afford not to do video advertising?”
Most video producers speak the language of “creative”, while most clients speak the language of “business.”
The actual cost of making that video, which is where most businesses get hung up on video campaigns.
Don’t stick your head in the sand. If you are truly looking to make your business grow working with us on LinkedIn Video Marketing Campaigns are absolutely, positively, 100% the route that you should be taking.
So, at less than £500 including your HD quality video and 6-week campaign is cost really an issue any more?
Read my latest article on LinkedIn Video Marketing
If you have questions about how you can work with our video team, let me know here or in the comments below. You can also call us and talk to our sales team at any time.