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Want to maximize the ROI on your video campaigns? You need to focus on video scalability.
Video marketing is easily one of the most effective ways to connect with your audience, no matter what stage of the digital sales funnel they fall into. It’s easily shared, and short messages that are even thirty seconds or less can pack a powerful punch that makes you memorable while best showcasing the USPs of your product and your brand.
Advanced marketers know that video can yield high ROI and that a well-structured campaign can be worth its cost many times over in profit (direct or otherwise).
Not all video, however, is guaranteed to have that ROI, and there are some common mistakes that businesses are making that are driving costs up so much that it’s causing a big hit on the return that you can expect to see while eating into your profit margin. A lack of scalability is perhaps the biggest one.
In this post, we’re going to go over how to unlock your maximum potential with scalable campaigns.
The Costs That Traditionally Affect Video’s ROI
To truly understand why video at scale is beneficial, let’s take a look at the cost model for a single ad video creative.
Costs often associated with video creation and marketing include:
- Hourly or time costs of your in-house marketing department while they work on strategy, video scripts, and promotion (and time is always money).
- The costs of creating the video.
- Costs involved in promoting the video, including paying influencers to share it or promoting it on PPC platforms for maximum visibility.
- A few flopped experimental campaigns that lead to a successful one.
The costs of creating video content are really the biggest variable and can be the biggest detriment. Video campaigns, after all, generally involve big financial investments. Video filming and creation teams charge high fees to create a single video that might be powerful, but it can’t really be repurposed in any other way.
This is fine if you were to just need a single video to welcome users to your site or explain a product, a la an explainer video (which can cost anywhere from $5,000-10,000 per sixty-second video, if not more).
But almost all brands don’t just need a single video; they need multiple videos on an ongoing basis that they can both test and use to keep users engaged while creating relevant content. And even lower-cost videos coming from a professional team can cost around $1,000 per minute.
These costs are high, and that means the stakes are high, too. But marketing is never a sure-fire thing, and in many cases, concepts need to be tested and new content will always be needed. Since third-party companies can’t always deliver and even the best-planned campaigns sometimes flop with little explanation, there’s a huge risk for loss of profit in a big way.
Scalable video campaigns, though, mitigate the risk of lost ROI and actually increase its potential significantly, and more businesses need to be taking notice.
Why Scalable Video Content Is Key to Higher ROI
Coming up with video creative to uphold conventional methods and best practices come with unprecedented production cost. The more videos you produce, the higher the cost. We’re talking about multiple aspect ratios so you reach your audience across different placement, frequent posting so you don’t go forgotten, A/B testing and funnel segmentation for optimize results and, let’s not forget, personalizing video to decrease ad fatigue— all these come with unprecedented production cost.
You pay $2000 for a video campaign, and you get a single video. It’s a great video, but there’s a lot riding on it, and there’s not much you can do with it moving forward. You want another video, you drop another $2000.
Take the case of e-commerce companies. They usually spend a huge sum of money on ads to promote products or a collection of products. Usually, these are fast-moving products. So, imagine creating multiple videos for each of these collections. Not to mention, targeted or personalized ads campaign.
To personalize a video ad campaign, it will take time, money, and a ton of effort. Personalization is not easy, nor cheap, especially if you do it the traditional way.
In theory, scalable, adaptable content should mitigate skyrocketing costs. Say you have a good performing creative and want to reuse this to retarget other demographics? Or to promote another set of products or services? What if there’s a way to do exactly that?
Such campaigns are agile and adaptable, so you’re not only able to test more strategies and different types of content, but you can branch out and change things up as often as you want. Scalable video content often involves using perfect-for-you video templates that allow you to drag and drop images or video clips or both into them, customizing the text, and then seeing how well they run.
Then, all you need to do is hire a video team to come in and film for a single day, giving you a large number of short clips that you can rework as needed. Whether that includes adding your own voice-over narration to feature different messages to appeal to your segmented audiences, or it means swapping different product images in targeted ads, this is essential.
Your marketing team can handle these changes themselves, and you’re only paying a flat fee for the software instead of rolling out thousands every time you want to change something up. You’re still getting high-quality video, you’ll just be mixing and matching the clips you’ve got and adding in the extra context as needed. This will keep your costs down, but the agility and ability to create mass amounts of video content very quickly will drive sales up, netting your best ROI on video campaigns to date.
Scalable video is efficient and allows you to adapt to everything that comes your way, which is essential because your business, industry, audience, or marketplace can evolve in the blink of an eye. Video templates allow you to mass produce video content in a way that doesn’t feel mass produced, giving you the best of both worlds. Both immediately and long term, this will make it easier to increase your ROI while better connecting with more of your audience, which should always be an important factor in all business decisions.