I spend most of my workday talking with business owners and influencer marketers about solving their operational issues.
The one common thread the majority of these business people have in common is being in “Video Marketing Denial”.
Can’t Videos to Work!!!
Yes, Video Marketing Denial. They tell me they do not need videos to market their service or products, but can’t figure out why their phones are not ringing like they use to.
What they are really telling me is they have lost complete contact with reality. They also have lost contact with what their consumers are demanding.
Today, 85% of consumers view videos for over 3 hours each day. Out of that 85%..over 50% of the consumers search YouTube or the internet to find videos that relate to a product or service they need or want.
That is a lot of people who depend on videos to help make their buying decision.
Not Feeling the Need
So why are these businesses not feeling video is needed? The vast majority of them feel there is no ROI for using video marketing. As I hear them tell me the cost of video production is too high, what they are really telling me is they do not value their businesses as much as they should.
In today’s business world, if a business owner is not investing in video marketing they are going to fall behind their competitors who use video marketing. They also are going to lose their market share to the businesses that understand the value of video marketing.
What is the Cost of Not Using Video Marketing?
The cost of video marketing has never been more affordable. In 2010, the cost for one minute of finished video was well over $3000. Today, a high-quality video can be produced for between $1000 to $1500 per finished minute.
DIY Roulette
Many of the businesses I talk to who are in Video Marketing Denial usually have tried producing their own videos either with their smartphone or using a friend’s DSLR.
Granted, there are a number of successful marketers who have pulled off doing DIY videos and have done well. But they represent .001% of the business people who have wasted their time and money producing very low-quality video productions.
Playing DIY Video Marketing Roulette is not a good marketing strategy.
ROI Takes Time
My studies are showing businesses that invest in a quality video marketing strategy have within the first 6 months produced an ROI. And, after 12 months of initiating a video marketing strategy now are investing well over 65% of their marketing budget into routine video production.
Koolaide Drinkers Will Lead You to Nowhere
So why are these businesses in Video Marketing Denial?
There are two answers to this question.
- They took the advice of an inexperienced marketer who sends their video production offshore and wasted a lot of money.
- They attended a video marketing symposium and drank the Koolaide one of the keynote speakers gave them on how they should use their smartphone to do their own videos.
SyncLab Media Way
So, if I caught you before you catch Video Marketing Denial from someone, I recommend you spend a few dollars hiring video marketing consultants like SyncLab Media.
Have them draw up a plan on what you need to do and how much it will cost you to start a Video Marketing Strategy….and how much it will cost you if you do not. Money well spent.
Let me know how I can help.
