Three Reasons Video Projects Stall
If you are finding it difficult to move forward with your video projects, you are not alone. It’s a conversation I have frequently with colleagues and clients. The discussion seems to always include these three challenges.
It’s always about the money, especially when implementing resource intensive solutions. Measuring the success and an ROI for your video depends on why and how a video asset is used. The immediate reaction to “what’s the ROI?” tends to be a discussion about video marketing metrics and attribution. This can be problematic if you haven’t yet tied the value of video to strategic business goals. If we translate the value of video in terms of the C-Suite, then the ROI discussion can be about three things: savings (time or money), productivity, and revenues. Tie video ROI back to these three business drivers, and up-selling your video project will be easier. Read some great additional research on this topic from Wainhouse Research and Aberdeen Group.
If video can replace existing events already in the budget – such as a quarterly all-hands meeting or a product launch, bring ROI back to saving money on T&E and increasing productivity; if video is used to increase customer engagement and leads, bring ROI back to revenues associated with new services sold to existing customers or new customers.
Time & Resources
There never seems to be enough hands to take on another project or enough hours in the day. Sound familiar? You need resources for content development, video production, editing and distribution, not to mention time to do your day job too. Taken individually, it can be overwhelming. The good news, it doesn’t have to be. We’ve found that clients who operationalize the video process are able to manage their time and resources more efficiently. As a result, ad hoc video requests can be accommodated without totally disrupting the day. When the process is formalized, it’s easier to create video quickly at a low cost, with minimal disruption to everyday schedules.
In-house or vendor created, it can be expensive to produce online videos. There are two ways to make sense of the costs associated with video production. One way is to create a 12 month video plan. A good plan will identify why, how and when video should be created. You can then determine whether economies of scale can be gained by shooting multiple videos at one time, or by shooting video following the ‘just-in-time’ model. Recently a client asked us if we could shoot an entire day of video, knowing that they would use the full length video roll to create ten or more thought leadership videos to be used throughout the coming months. Costs were managed by having a single shoot, and only editing costs would be incurred for the thought leadership videos. The second way to manage costs is to invest in on-site video production capabilities. This is particularly helpful if you know that video will play a significant role in your marketing plan and/or your business model depends on monetizing intellectual capital. On-site video capabilities maximizes your talent and minimizes the impact of disruptions in their schedule.
Based on conversations from the field, each client has its unique challenges when it comes to executing and scaling video projects. Stay tuned for our next post that will help answer the top reason video projects stall – how do I make a video that people want to watch? In the meanwhile, register for our upcoming live event, Perform Like a Pro for Your Next Video on Tuesday, June 24th at 2pm EDT. You’ll learn from experts how to get your audience to watch your video.Back to All Blog Posts