5 Ways Marketing Managers Can Maximize Your Video Production Budget for Unbeatable ROI
Welcome to the world of video production, where every budget is squeezed to its limits, and every euro spent needs a clear return on investment. Marketers and founders who care about their company know the struggle to create quality video content with limited resources. It can be a real challenge to produce content that delivers the message and a positive ROI. In this post, we'll explore 5 ways to maximize your video production budget for unbeatable ROI, so you can feel comfortable dedicating big bucks to it.
Know What Metrics Matter to Your Business:
Were you paying attention during the yearly strategy video last week? If not, it's linked below. It'll help you determine what metrics will get you closer to achieving your business goal.
You can't get a return on your investment with video if you have no idea what metrics indicate success.
This might be follows, engagement, form submissions or online purchases. Make sure you're tracking the metrics that matter to you so that you can see the real impact of your video production budget.
Make More Content from Your Video Shoots
If you're paying for a video production team, why not get the most bang for your buck? Making more content per shoot takes a bit of advanced planning, but you should schedule multiple videos with every shoot. That's your pillar long-form content. Let's say each of those videos is 5 minutes. Cut them up into 30-second videos and post them on social.
Not only will you save money on separate shoots, but you'll also have a variety of content lengths that perform better on different platforms.
One company we recently tested this with got 7 times the engagement and views per video.
Use Google Analytics to Track the Performance of Each Video:
Using Google Analytics is a great way to see how each video performs regarding views, engagement, and conversions. For example, you might get views and likes on social media, but is the video meeting your business goals? Is it bringing people to your website and getting them to buy? This data is crucial to understand what kind of content resonates with your audience and how to optimize future videos for maximum impact. Make a note of what's converting and double down on it; make a note of what's not making an impact and cut it.
Budget for Distribution and Turn Your Highest Performing Content into Ads:
It's not enough to create excellent video content; you need to ensure your audience sees it.
When you post on social media, your video will only be seen by a fraction of your audience. So pick the post that performs the best with that fraction of your audience, put some money behind it, and the ad will get it in front of thousands of more people.
BONUS tip here: create an ad targeting those that follow you first. Your post will have more traction when your cold audience sees it, so it will perform better overall.
So, always budget 3/5s for production and 2/5s for promotion.
Use a Content Database to See What Type of Content Is Performing the Best for You:
Finally, maintaining a content database is the best way to keep track of your video content and performance. You can pull the numbers you need from social media analytics tools and google analytics to rank all your content in terms of performance. This will give you a clear picture of what type of content resonates with your audience and what kind of videos drive engagement and conversions at a glance.
At Waking Dreams Media, our client portal comes pre-built with a content management database that you can look at and decide on the direction you want to take your content in the future. So if you're interested in a demo, get in touch today!
With these 5 tips, you can maximize your video production budget for unbeatable ROI. Whether you're a seasoned marketer or just starting, these tips will help you create video content that engages your audience and drives real business results. So, start planning your next video production budget today.
In conclusion, quality video content doesn't have to break the bank. Using these 5 tips, you can maximize your video production budget for unbeatable ROI and take your video marketing to the next level.
Let me know how it goes.
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