By: Lauren Simkins
Lauren Simkins

How to Utilize Video Marketing Without Breaking the Bank

Video, video marketing

Did you know that 61 percent of businesses currently use video as a marketing tool, according to Wyzowl?

That means twice as many of your competitors are using video in their marketing as those who aren't. Why? It’s simple, really. Video marketing is one of the most powerful marketing tools at your disposal, allowing businesses to provide a personal face and voice connection while demonstrating the features of their product or service.

Unfortunately, people often associate creating a professional B2B video with costing an arm and a leg. That same Wyzowl study also says that 15 percent of businesses say they don't use video because it's too expensive. While some types of videos can carry a hefty price tag, leveraging video as part of your marketing arsenal isn’t always just for big businesses or big budgets.

Let’s take a look at a few ways for businesses of all sizes to take advantage of video marketing without breaking the bank.

VIDEO WITHOUT BREAKING THE BANK

What Do you Want to Accomplish?

First, determine your overall goal for your video as the essential first step in the process. For budget purposes, paint the image of your story yourself. You’ll want to consider your consumers’ wants and needs. Even if your video quality is not as professional as your some of your competitors, your consumers will focus in on your compelling message that stays consistent with your brand image.

Free, On-Demand Webinar: How to Get Started with Video Marketing

In general, your video objectives should directly align with your understanding of what customers are looking for. You can start with a simple “How To” video to demonstrate your product or service. There are a variety of these videos that you can choose from, but more on that later.

By making sure you have your goal outlined at the start, you will avoid potentially inflating your budget unnecessarily down the road. This is because you will be able to check every idea or suggestion against whether or not it ties directly to your objective. Without that benchmark in place, however, you may find yourself without the ability to push back in these situations.

Check Your Pocket

Put down that list of expensive video equipment you "need to buy" and pull out that smartphone.

You would be shocked at the amount of people who use their iPhone and iPad to shoot their marketing videos when working with a limited, or no, budget. Nearly all smartphones shoot HD video and capture quality sound, and yes, there is an app for EVERYTHING.

Get started by checking out these six popular apps for video marketing:

Take advantage of existing content and customers

The great thing about video content is that you most likely already have the working content around you. Maybe you already have individual video clips laying around from an online profile on your website or from events your team has attended. 

Also, don’t be shy about asking your customers to contribute. Many customers will jump at the chance to play a part in a marketing campaign that they support, especially if they are evangelists of your brand. Try running a contest with a small incentive - maybe a free thank you gift or complimentary service.

Not only will this increase the network of people likely to share the finished product, testimonials from real-life clients can be a powerful legitimizer in the eyes of prospects.

Take a Look at Live-Streaming

While you definitely want to make it a point to include more polished marketing videos in your campaigns and on your website, don't overlook the power of live-streaming. We've written about live-streaming before, but at a high level, live-streaming is a great "low budget" way to get your video messaging out there in a format that reads as more "authentic" given its appearance of spontaneity.

Some ways to consider leveraging live-streaming include product launches, frontline "reporting" at industry trade show events, and special announcements.

You'd Be Surprised What You Can Do

There is a reason that 93 percent of companies using video believe it has increased user understanding of their product or service. Have I persuaded you to jump on the video bandwagon yet? Because video marketing does just that: persuade.

What many marketers are surprised to learn, however, is that polished and professional video marketing opportunities are within reach, and are not just reserved for larger companies with expansive budgets. All it takes is a little pre-planning and research. 

And remember, whatever decisions you make - from strategy and subject matter, to video type and sharing platform - they should always be dictated by the desires and the media consumption habits of your audience personas

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