Video is king! Some analysts predict that video traffic on the internet will increase by 60% in the next 5 years. It’s no wonder, since most of us would rather push a button on a website and be entertained for 2 - 3 minutes by a corporate video, than read through many pages of text.
Following the introduction of a short corporate video on their website, a customer in the tourism & hospitality sector reported that they quickly became fully booked for the summer period - something which had never occurred in the preceding 14 years of trading. And when you consider that a ‘talking heads’ video costs around £150 all-inclusive and a full corporate film with a voice-over and music can be produced for as little as £700, it is a very cost-effective tool for businesses wanting to up their game.
Therefore, the question you should be asking is not ‘Can I afford to have a corporate video produced’ - the question is can you afford not to?
Having a corporate video is fast becoming the ‘norm’ just as companies are now expected to have a website if they are to be taken seriously. Whether you are a start-up or an established business, sooner or later you’ll need a corporate video of your company or service. For established businesses that could mean a call to your regular video producer, but for the majority it will be a case of trawling the internet for a video production company who’s work reflects your view of your company, product or service...and then comes the inevitable question of price!
So, is it worth it? Will your outlay be justified? Would it be cheaper to hire the local person who makes the occasional film for wedding couples and school theatre productions, or maybe even shoot the film yourself?
As an industry insider I’ve discussed this topic many times with marketing professionals and business owners, and listened to the feedback from a great many customers. The over-riding opinion (as you would probably guess) is an emphatic yes, hiring an experienced corporate video producer is well worth the spend. But what are the reasons.....and the fees?
Buying is an emotional experience for most of us, if something looks good the price quickly becomes a secondary consideration. This is especially so with food, if it looks juicy, succulent, crispy, sweet, savoury, etc., if we can imagine ourselves eating it we’ll buy it (think of the M&S adverts). So that’s part of the emotional aspect from your customers point of view. And good video production will help to evoke those emotions.
But what about you - the business owner, what about your emotions? Will the fear of the costs of hiring a good video producer over-ride your desire to have your product or service looking its best?
What if we remove the business owner’s fear from the equation and simply look at the facts? There’s a huge amount of information available, the figures vary slightly depending where you look, but it all supports the idea of hiring a professional. Professionals have all the equipment, skills and experience - they also have a constant ear to the ground and an eye on the trends of the marketplace. So instead of quoting charts or surveys, I’ll draw on some anecdotal information from the experience of customers.
Overall, and from various sectors, small business customers report an average of around 16% increase in turnover between poor video production or photography on their websites & advertising material, and good video production & commercial photography. Although for some it is as little as 7%. Larger businesses were generally either unable or unwilling to provide the information.
So lets round that up as 10% and assume a very small business with a turnover of £15k, which gives us an increase of £1500 in the first year, offset against an average spend of between £600 - £800 for a corporate video, or £400 - £500 for a days photography. And when you consider that most businesses update their video or photography every 3 - 4 years (unless you are regularly introducing new products) the figures are looking very favourable indeed.
There is also the added bonus of the confidence that your website and advertising material looks as good as, if not better than the competition. But we are letting emotion creep in again there!
We have produced corporate videos for customers in all sectors throughout the UK and Europe and we would welcome the opportunity to discuss your project with you.
Corporate video production in Lincoln, Grimsby, Grantham & Newark, Notts. Full corporate & industrial video production services.