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Why you shouldn’t cut your video marketing budget

With brands still recovering from the financial effects of Coronavirus and with an energy crisis fast approaching, you may wonder if budgeting for video marketing is the best use of funds.

Why video production marketing is so important:

  1.  85% of consumers want to see more video content from brands. (HubSpot
  2. Businesses who used video production marketing campaigns ended up growing revenue 49% faster than non-video users in 2019.
  3. 64% of consumers will make a purchase after watching branded videos on social platforms. (Tubular Insights
  4. 84% of consumers surveyed were convinced to buy a product or service after watching a brand’s video. (Neil Patel)

Initially, investing funds into video marketing during downturns may sound like a bad idea. However, due to less people considering this and resisting investment in marketing, this is the opportunity to make your brand stand out. With fewer companies in the space and cuts to marketing being made, your films and video will stick in the minds of your potential customers and become their go-to when they’re ready to buy. 

Companies can fail to consider the long term when adjusting their budget. However, when the role of marketing is in some ways to establish a relationship between brand and consumer requiring consistency, keeping your brand updated with video production content maintains a sense of reliability and a positive representation which will resonate with people. 

Audience preference leans toward video content styles of marketing over reading, and good video marketing sticks in the mind of the viewer. A study by Forbes even finds that 80% of users can recall a video ad they’ve seen in the past 30 days (3). Whilst advertisements attract consumers in the first place, explainers, tutorials and testimonial videos are going to be a critical part of your marketing production efforts when the goal is to convert.

Using an experienced and savvy video production company

These reasons show that video content is highly important when forming your video marketing budget which more companies are becoming aware of. Enlisting the skills of a professional video production company will elevate your promotional film in an increasingly competitive medium for many reasons. The right filmmaking company will understand marketing trends and the best methods to produce the right creative content to promote your brand. 

Through use of an experienced, savvy video production  team, brands have access to options in terms of types of video content which you can use to align with your specific marketing strategy. Depending on what you promote, YouTube videos, Instagram posts, longform advertisements or even short TikTok’s all appeal to different customers and markets. 

Access to a video production department’s resources and skills such as a slick combination or camera operating, video editing and photography is also a large advantage. Without help of professionals with the appropriate knowledge and equipment, you risk additional costs investing in trying to create the video content yourself. Remember, not channelling enough budget to a video marketing campaign can leave you with second rate results that could actually prove detrimental to your business.

As Cisco reported that video marketing is going to make up 82% of all consumer internet traffic by the end of 2022 (4) video can (and should) be incorporated into all marketing channels when possible. There’s a saying: “If sales are your problem today, marketing was your problem 12 months ago”, and as the world grows more video content rich, it’s already too late to start prioritising video marketing in your production budget.