It’s all about video. With just about every social media channel having some kind of video sharing option available, the opportunity for business is endless. We can see the growing use of video becoming a medium for advertisers and marketers alike to share content. It, therefore, begs the question, is video worth the investment and how can your business take advantage of it?
YouTube, Facebook, Instagram, TikTok and many more social networks have managed to create a space where businesses can connect with their audience like never before. However, there is the obvious barrier to enter the world of video; cost. Not only are videos expensive to make but the return on investment (ROI) is questionable and is not always necessarily immediate. This being said, there are a number of ways to combat these barriers. First off, there are free tools available, such as Magisto and Powtoon, that allow you to create your own videos using a standard template of graphics and imagery. YouTube has also suggested some excellent tools to make your videos. This is already a starting point to increase your ROI. These video creation alternatives allow you to create multiple videos with the same or varied message. This can actually be beneficial as companies can test each video to see which one has the best or most ideal engagement wanted. By doing this, you are able to see the effect it will have on your ROI. Keep in mind that you will naturally have to invest something into the ad spend on a video and it may take a while to reflect quality results. Check out the pricing to share ads on YouTube. However, this does allow you to share a number of videos across a number of platforms, therefore reaching a larger audience.
Furthermore, another consideration when looking to create video is the diverse targeting opportunities available. Take YouTube, for example, this platform is the second most popular search engine next to Google. Therefore, there are many different opportunities to target a number of different groups – from a very niche community to a much larger community. By making use of these targeting options you will be able to gain insight into your consumer base and see how your product or service is being received. You are additionally able to collect statistics on the videos you create such as views, likes, shares, comments, etc. This creates an open dialogue between the company and it’s consumer. You can ultimately improve your product or service with this unique insight to give your customers what they are truly after.
Finally, keep in mind that you will need to consider your ultimate goal for the project you have for making a video ad. After understanding the ease that comes with creating videos yourself as well as the benefits that targeting options offer, there is also the element of different types of YouTube ads to look into. YouTube offers the use of TrueView, Bumper, Reservation, Outstream, and Masthead ads among others. With so many options available to show your video, you stand the chance of seeing a massive ROI whether it be immediate or later. The idea here is to keep your product or service front-of-mind when customers need it.
Overall, we argue that video is definitely worth the investment. Although aspects of video are largely expensive to create and run there are tools available to help you lower these costs and target effectively. Businesses should take advantage of video in order to positively impact your consumer touchpoints and therefore communicate with your customers. By creating an open dialogue with your customers, you open your business up to a world of opportunities. We would love to know your thoughts on video and how it could impact your business whether it be positive or negative. Let’s chat about how we can work together to make best use of your social media and video elements. Coffee is on us.