One of the buzzwords showing up a lot in business conversations lately is “strategy”. Let’s start by understanding what strategy is. To put it simply, strategy is to used to make high ROI decisions from informed analytics. The process for business strategy differs from company to company, but the process always starts with some kind of problem or goal and ends with a plan to solve that problem.
To put it simply, strategy is to used to make high ROI decisions from informed analytics.
Video strategy follows many of the same rules as a normal business strategy, but it focuses specifically on using video to reach goals or to solve business problems. What kind of business problems you ask? Here’s a list of a few we’ve come across:
So, why is the use of video important as a solution? Great question! 😉
The benefits of using video as part of a business strategy are many. Some of them are quantitative (measured by numbers) and some are qualitative (measured by quality or emotions). Three important reasons for using video are:
That’s just the qualitative stuff. As far as quantitative numbers go, here’s a few stats to keep in mind:
There are many factors, exercises, and activities that go into formulating a video strategy. Things like a company’s audience, key analytics/metrics as well as problem areas or opportunities play a major role in formulating a video strategy. To help discover some of those opportunities, we go to our trusty sales funnel.
The key to a successful video strategy is to go through a company’s funnel one level at a time to find the weak points that may be causing significant leaks and turning away potential customers. Not getting enough traffic to your site? It might be a good idea to use more video content directing more users to your site on platforms like social media. Or another possible solution could be using paid advertising or content marketing to help patch the leak. Have a low conversion rate? Maybe you’re losing the trust of your audience somewhere along their path? A company culture or case study video goes a long way in proving that you’re trustworthy.
The possibilities and potential solutions are endless, but finding the solution always begins with understanding the problem in a company and examining their sales funnel for high ROI opportunities.
A video strategy includes many elements, here’s a list of a few that you could expect.
Once you have your video strategy, it’s time to follow through with the plan. For us, sometimes that means arming a company’s marketing and creative team with the resources or training they need, and sometimes it’s us jumping on for the creative production with one of our other services like motion graphics or video.
Want to start using video strategy in your business? Hit the button below, answer a few simple questions and we’ll be in touch within 2 days.