Last Updated on April 8, 2023 by Tabraiz
Developing a video marketing strategy seems necessary in today’s market circumstances. Videos have become one of the best instruments to achieve marketing goals. However, you must know the essentials to build a robust video marketing strategy.
For the past few years, videos have become a powerful medium to deliver messages and engage audiences. Videos can always come to the rescue, from explaining heavy topics like cryptocurrency to introducing a brand or product.
The first step into video marketing may be challenging. So, we’ve collected five things you have to do before considering video marketing strategies. The explanations below are applicable for businesses of all scales. So, let’s dive in!
#1. Research Target Audience and Competitors
You know the drill before coming up with a new project; it’s researching. It’s a must, especially for businesses before adjusting to a new marketing approach. The two fundamental research are audience and competitor identifications.
To know your target audience, you can do demographic and psychographic research. Demographic factors include gender, age, education, and income, whereas psychographic characteristics include social class, lifestyle, personality, interest, and behavior.
Moreover, competitor research is also no less important. Start to make a list of your competitors and study their marketing funnel. Consider signing up for their newsletter and find out how they approach audiences.
#2. Define Your Goals
Every business may have different goals from each other. But, they also have one common goal: to see growth in their business.
However, defining certain goals for your business is essential. You may want to improve engagements, boost conversion rates, increase brand awareness, and generate more sales.
Besides, you can also set goals to escalate business revenues, grow your email list, gather prospects, or build loyal customers.
#3. Set Budget and Timeline
Taking measured steps is a part of a successful video marketing effort, including setting a budget and timeline. Especially for small to medium businesses, allocating the proper funding is vital to maintain their continuity.
The rule of thumb for allocating a marketing budget is 2%-5% of sales revenue. But, it’s also normal for companies to spend 7% to 10% of their overall income on marketing.
Moreover, start setting your timeline project for video production and overall video marketing effort. For example, whether you want to create the video with your team or hand it to a video production company.
#4. Plan Your Video Production
There are many types of videos to choose from, such as live-action, animated, how-to, expert review, demo, and product videos. Choosing one style is always subjective, depending on your brand, product, and target audience.
The video production may take longer than you think, so discussing and consulting with experts will be a plus point. Besides, you can also ask them for the most suitable video type for your marketing.
From a general point of view, making a video may include pre-production, production, post-production, and distribution stage.
#5. Learn How to Optimize your Video Performance
Before your video comes out from the production kitchen, you can learn how to optimize your video performance in cyberspace. There is much to learn to boost video performance, including SEO adjustment.
Learn how to implement keywords for your video appropriately. Also, learn to leverage social media platforms, including writing video titles, descriptions, captions, and tags. Last but not least,learn how to create an enticing thumbnail for your video.
More Tips and Wrapping up
One more tip, always define your success by looking at your video performance. You can consider your video engagement rate, view count, social media shares, conversion rates, and email list growth in the analytic page of each social media.
The points above can be a great help if you plan to build a video marketing strategy for your business. Always watch the latest marketing trend to update your marketing approach, reach more audiences, and compete stronger against competitors.
Author
Andre Oentoro is the founder of Breadnbeyond, an award-winning explainer video production company. He helps businesses increase conversion rates, close more sales, and get positive ROI from explainer videos (in that order).
Twitter: @breadnbeyond
Email/Gravatar: [email protected]
LinkedIn: Andre Oentoro
Apart from this, if you want to know about Video Marketing Strategies then please visit our Law category
