Before the advent of social media, and various video content sharing platforms on the internet, advertising budget was cut and dried: 20% on production and 80% on media buying.
Times have changed since then. Now, the formula for setting an optimal budget for advertising, specifically for video production and promotion, isn’t as easy to pin down for maximum ROI.
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The Dollar Shave Club
Tech Insider
Tech Insider’s most viewed video shows that content that promises to answer interesting questions and fills the gap in the audience’s knowledge can be a big hit.
It’s worth noting that although many believe that the ideal length of an explainer video is 60 seconds, Tech Insider’s is much longer than that. This is a good reminder of how rules are not set in stone.
Check out our post on why explainer videos matter for B2B businesses here.
Code.org
Code.org amassed a massive number of views on YouTube. People get motivated when they hear stories of how successful people started out on their journey.
This video shows the humble beginnings of several iconic companies with founders highlighting that it all started with a simple line of code.
If you want to learn more about how the multi-billion dollar companies of today started out, read one of our previous posts here.
Chuck Testa’s Official Ojai Valley Taxidermy Commercial
As of writing this piece, Chuck Testa’s taxidermy video has racked up more than 17 million views. YouTubers Rhett and Link produced the video for their show Rhett & Link: Commercial Kings.
The humorous nature of the video contrasted with Chuck Testa’s deadpan voice elevated the video and the phrase “Nope, it’s just Chuck Testa!” to viral meme status. Time magazine’s Nick Carbone ranked it at number 10 in his list of the best memes of 2011.
Purina Friskies – Dear Kitten Series
Everyone knows that the internet has an obsession with cats. Buzzfeed and Purina Friskies launched their brilliant ‘Dear Kitten” series that leveraged the cuteness of everyone’s favorite fur balls and gave people exactly what they wanted.
Now that you’re thinking of a budget and strategy for video content production and promotion, an equally important step is to monitor, control, and correct course as you go.
Some of the video content success stories mentioned above don’t really follow a tried and tested ‘winning formula’. Advertisers and marketers must be aware of audience expectations; desires, etc. and adjust strategies accordingly.
To keep up with today’s rapidly changing digital climate, software, such as Agile, have been developed. These allow marketers and advertisers to remain updated on user data and trends.
The software also gives you the ability to tweak your video content production as you go. And allows you to adapt to how your audience responds.
To sum it all up, here’s our take on the video cost vs. promotion debate
1. Use a strategy which focuses on producing video content that is unique, creative, enjoyable, and shareable
2. Invest in creating good quality videos frequently
3. Promote the most promising video content in a non-aggressive way
4. Keep track of your video promotion cost, return, and audience response
5. Set budget accordingly
The best strategy is to invest in creating quality video content that resonates with your target audience. Continue experimenting and keep your fingers on the pulse when it comes to social media. That’s how you’ll know what the people love and want more of.
If you’re thinking about hiring an agency to help your business in the realm of digital marketing, then check out our pick of the 10 best digital marketing agencies in NYC.