How Corporate Video Production Can Increases Your Company’s Profitability.
Shane Yeager
Done right, video has a high probability of providing a positive return on investment.
Ah, here we are living happily in the visual era. With Netflix and other large companies making serious cash and producing what seems to be an endless stream of content, some say we have entered the new golden age of television. But even if you don’t fancy TV or have the time to binge watch hour-long episodes, you are probably exposed to just as much short form content. In the new world, Instagram and Facebook videos reign king, and everyone is hungrily digesting digital content on every screen and in every app they open.
It’s no surprise that companies big and small are seeking video production to tell their stories visually and target the massive online audience. There are even claims that video production can and will increase a company’s profitability. But how the heck does one measure that?
You might be saying, “sure, video production sounds neat, but we pay entire sales and marketing departments to poach new prospects and keep projects rolling in. How can I justify spending even more on making a silly little video?”
The reality is that video production is more versatile than most companies think. While making a storytelling video about a company's vision and service to the market is common and can be very successful, there are plenty of other uses for video production that can add efficiency and cost-effectiveness to already existing processes and departments.
Sales and marketing videos
Videos are becoming more and more popular to help companies educate its potential clients on its service or product without getting too wordy or relying on a sales associate to answer questions and explain.
This type of video acts as tool to show a product visually, explain how it functions, and why it’s worth the purchase. Many prospects are much likelier to stop and watch a 2-minute video than read a lengthy article or explanation of a project.
Recruiting and training staff videos
Most serious companies, and especially the big players, spend a lot of time identifying viable recruits and on-boarding and integrating new hires. This not only requires significant man power, but is also a costly operation. By writing and filming a video that delivers all the nuts of bolts of a company's vision, a company can strategically distribute that video to garner attention from potential new hires and use subsequent videos to begin training them on less hands-on tasks.
Fully fleshed out training videos are entirely possible and, if constructed properly, can bring a new hire almost up to speed and be followed by in-person interactions to answer questions the video could not.
Last, but certainly not least...
Improve your brand
Let's say I'm going to buy a new pair of sneakers. I know, this has become a daunting task in 2019! There are thousands of brands out there producing comfortable, stylish sneakers and I only have two feet, how do I pick?!
One method for setting a company apart from others is a unique, punchy, emotional storytelling video or ad. The written word is essential in marketing and for explaining specifics to customers. But music, colors, and images can only be portrayed through a visual medium. A video shows the customer how the product is used and loved by people just like them. The use of video does something entirely new, it captures an emotion.
Since people make purchasing decisions based on their emotions, they are more likely to choose your brand if it connects with them on an emotional level. A video acts as an extension of a brand that consumers can connect to and make a purchasing decision from.
Yeah, but, where's the numbers?
If you are still calculator in hand at this point, you might have missed the point. It's true, videos can be difficult to quantify from a profit and sales standpoint. Some companies rely on number of views, clicks, likes, and subscribers to determine the value of a video. This can be a dangerous practice as converting that data into sales is a bit ambiguous.
Internally, videos can clearly replace outdated methods for explaining products or services, recruiting, and on-boarding. But externally, videos should be a marketing tool that separates a company from their competition. They should establish an emotion and be an extension of a company's motto and vision. This might not be perfectly quantified and measurable but if done correctly, the rewards will be reaped tenfold in profit and attention in the market.
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