Many marketing directors feel like they’re in a predicament.

As they increase their budgets for video, they feel the challenge to make it worth the effort and prove the ROI.

71% of Marketing Directors plan to increase their video budgets, according to Tubular Insights.

As you plan your marketing spending, you may want to think about some marketing director personas we know to help make your video spending profitable.

Don’t Be Like Richard and Sara

  • Eager to do a lot of video, Richard hired an internal staff of producers, camera operators and editors and purchased equipment. While all of his staff had video production background, Richard understood his brand, but not video process and strategy.
  • Sara is creating video with an outside production company, but neither she nor the company brought a video strategy and media plan to the table.
  • Then there’s successful Mike… More about him later.

Richard’s team has put out a few pieces of video on a sporadic basis, with none of it is tied to conversion mechanisms.

Since Sara’s content doesn’t have an intentional conversion funnel and a media plan, she hasn’t reached her goals for engagement and sales.

Both know they need to do video because that’s how many customers want to engage (70% of customers say they’d rather watch a video than read a webpage), but managing how to be successful with video is proving to be daunting.

Be Like Mike

Now let’s talk about Mike, Marketing Director at a financial institution. Mike has one person on staff who can take simple videos and stills, but for ongoing media content and strategy, he’s partnering with a video marketing company. He’s worked with them to create digital content pathways for his three types of customers­–in his case, other banks, small business owners looking to expand, and entrepreneurs who need educational support.

He created video content that features small business owners, happy with the bank’s services and created compelling visual stories to draw in prospects. The business owners serve as a guide for prospective customers who may feel daunted to go this road alone. The videos rely on classic, proven storytelling techniques to engage viewers.

Mike had his marketing company cut versions of his videos that are 15-seconds, 30-seconds and a minute and a half. The shorter pieces are sent out in social media, and to Mike’s e-mail list, while the longer piece lives on the company’s website and is activated on YouTube.

Reassure and Simplify

After prospects watch the video from e-mail, social and YouTube, they’re directed to Mike’s landing page that’s separate from the company’s website. This page is designed to do two things:

  • Have customers sort themselves into persona categories by clicking one of those purple buttons.
  • Signal to prospects that they’re in a similar world as the social media and e-mail they just left by including a version of the video with more information.

Let’s Convert

Once someone clicks, let’s say the Resources and Education button, Mike is offering prospects content that helps their business, in this case, a specific whitepaper. To get that content, these prospects need to give him something: Name, E-mail, Company and Industry. It’s these leads that Mike uses to substantiate his time and effort for video with his executive team.

 

Media Support

The important thing to remember is video content must be supported by paid media to break through. While the age-old traditional media versus production split was 20% on creative/80% on media, experts vary about the guidelines with the budgets to promote digital video. Most agree, that even though budgets overall are lower, more money is going to creative. We see budgets of 50% creative/50% media, and 60% creative/40% media all the time.

 

Jordan Bitterman, CMO at The Weather Company and former senior VP at Digitas predicts that the growing importance of earned and owned media will shift the non-working ratio, which might better be termed “content development,”  to 50% or more of marketing spending (as reported by Ad Age).

Takeaways

To engage and move prospects to action, video content must be created with an intentional content strategy plan that gives a simple pathway for the customer to convert plus paid media support to reach the audience.

Mike is enthusiastic to share his video results. With these tips, you will be too.