Your hard work is finally paying off. Your business has established a foothold within your market. You’re generating revenue, you’re lining up your next round of funding, and your core team is falling into place.
Yep. You’ve graduated from startup status to a real, growth-stage company. So, what’s next?
A shit-ton of work, that’s what. Specifically, now you’re going to need to expand your marketing budget to generate more and better leads. Your competition is going to start to notice there’s a new kid on the block – and they’re going to do what it takes to close ‘dem deals before you even have a chance to make your pitch. And even as you do start to onboard those beautiful new customers, you better believe they’re going to put your support team through the wringer.
As you search for solutions to these new challenges, someone in a sweat-stained buttondown will inevitably scream “what about video?!” during a meeting. And while he’s on the right track, what he probably means to say is, “what about creating a video content marketing strategy?” and just didn’t know that sort of thing existed.
So what, exactly, is a video content marketing strategy? A mouthful, for starters. At Storyboard Media, we actually just call it a “video strategy” because it should apply to more than just marketing. But, you know, keywords… More importantly, though, it is one of the savviest investments you can make during the growth stage of your business.
Why? Let’s take a look at 5 reasons a comprehensive video strategy is especially valuable for growth-stage companies.
1. Video Generates Leads
Not only can effective marketing video increase brand awareness but (when combined with a smart distribution plan within your video content marketing strategy) that video can zero-in on your target customers and pique their interests. Whet their whistles. Tickle their tigers. Stroke their–hey, you get the idea.
By creating marketing videos that appeal specifically to your target audience, then distributing those videos on the platforms that will generate the most engagement from that audience, you can separate the wheat from the chaff. That way, you can get the most from your ad spend while making your sales process more efficient.
2. Video Helps You Close Deals
Video can be what bridges the gap between giving the pitch and closing the deal, and often in less time than traditional sales methods. Video can serve as another opportunity to show your prospects that you understand exactly what they need – while giving them the final push required to get on board, all in one efficient 90-second piece rather than a 20-minute demo.
Video allows your sales team to establish that critical face-to-face, human-to-human connection without having to waste another Thursday at the airport bar in Cleveland waiting for a connecting flight. In fact, if you believe these guys, video can trim up to 25% off of your sales cycle. More than likely, the additional revenue you generate and the resources you save will far exceed your initial investment in video.
Another advantage of well-made videos for sales is their shareability. Your point of contact may not have the final say when it comes to purchasing your product or service, but he or she can share your sales video with the person who is in charge to clearly articulate the features and benefits you’re going to provide.
3. Video Improves Customer Success
It’s no secret that earning your customer’s loyalty is the key to long-term growth. In fact, according to this thing, customers that continue to support your brand over time will spend 67 percent more than new customers – and 60 percent of loyal customers say that they will refer brands to friends and family. Sounds important.
A content strategy that includes customer success video helps you get the most out of your support team – and gives them a little room to breathe. With the influx of new customers that your fist-pumping sales team brings in during this period, even your best customer experience pros may get a bit rattled. Videos that address frequently asked questions can reduce support tickets in a way that still feels personal and interactive, while follow-up videos or thank you videos can secure your customers’ loyalty for years to come.
4. Strategic Video Increases Your Video ROI
While it’s true that, thanks to advances in technology, the overall costs of production have dropped in recent years, that doesn’t mean that creating smart, purposeful video shouldn’t be considered an investment.
According to Vidyard, the average budgets for high-quality, outsourced video production projects “usually land somewhere between $20-30K.” That’s for a single video project! And let’s just say our production pricing more than backs up this stat.
Once you’ve met the minimum financial threshold required to engage in the video production process (read: concept development, securing studio space, hiring freelancers, etc.), you must take advantage of economies of scale; for twice the money, you may be able to create five times as many videos and significantly increase your ROI.
Having a smart strategy in place before you go into the production process will tell you exactly how to allocate that video budget. You can make the right content designed to target the right audience. And by eschewing one-off videos in favor of a more comprehensive video roadmap, you’ll see better results across more areas of your business.
5. Video Is No Longer a Novelty – It’s a Necessity
Hubspot reports that 81 percent of businesses used video as part of their inbound marketing strategy in 2018 – an increase from 63 percent in 2017 and 61 percent in 2016. By our calculations, that means at least 162 percent of businesses will be using video as part of their marketing strategies in 2019. It’s just math, folks.
Today, prospective customers simply expect video content to help guide them through the sales funnel. If you’re not using video, you’re already behind. If you’re not using an intelligent video content marketing strategy, you might as well fire up that dial-up modem and start taking calls on a Nokia flip phone, because you’re going to be behind soon enough.
Did we mention that video improves your SEO, increases the odds that you’ll rank on the first page in search results, and dramatically boost conversion rates?
Let’s Have a Chat
At Storyboard Media, we specialize in strategic video for marketing, sales, and customer experience teams. To put it more precisely, we help you leverage video to generate leads, close deals, and delight customers.
If your company is ready to invest in its future by making the most out of video, let’s have a chat. Because our team is ready to show you how to make it happen.